US HR1916

Bill

US HR1916

Save Community Newspaper Act of 2019

Introduced
03/27/2019

In Committee
03/27/2019

Crossed Over

Passed

Dead
12/31/2020

Introduced Session

116th Congress

Bill Summary

To amend the Internal Revenue Code of 1986 and the Employee Retirement Income Security Act of 1974 to provide alternative minimum funding rules for certain single-employer plans maintained by a community newspaper. This bill allows community newspapers to elect to apply certain alternative minimum funding standards for single-employer defined benefit pension plans that meet specified requirements.

AI Summary

This bill, the Save Community Newspaper Act of 2019, allows community newspapers to elect to apply certain alternative minimum funding standards for single-employer defined benefit pension plans that meet specified requirements. The key provisions include: allowing community newspapers to use an 8% interest rate for determining funding targets and normal costs, instead of the standard segment rates; resetting any previous shortfall amortization bases to zero; and extending the amortization period for any new shortfall amortization bases from 7 to 30 years. These alternative funding rules are intended to provide relief to community newspapers that have maintained single-employer pension plans without increasing participant accrued benefits since the end of 2017.

Committee Categories

Education

Sponsors (4)

Suzan DelBene (D)*, Cathy McMorris Rodgers (R), Dan Newhouse (R), Adam Smith (D),

Last Action

Referred to the Committee on Education and Labor, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. (on 03/27/2019)

Official Document

https://www.congress.gov/bill/116th-congress/house-bill/1916/all-info

(2 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://www.congress.gov/bill/116th-congress/house-bill/1916/all-info
BillText	https://www.congress.gov/116/bills/hr1916/BILLS-116hr1916ih.pdf
Bill	https://www.congress.gov/116/bills/hr1916/BILLS-116hr1916ih.pdf.pdf

Bill	Bill Name	Last Action	Type
HR1994	Setting Every Community Up for Retirement Enhancement Act of 2019	Received in the Senate.	Related
HRes389	Providing for consideration of the bill (H.B. 1500) to require the Consumer Financial Protection Bureau to meet its statutory purpose, and for other purposes; providing for consideration of the bill (H.B. 1994) to amend the Internal Revenue Code of 1986 to encourage retirement savings, and for other purposes; providing for proceedings during the period from May 24, 2019, through May 31, 2019; and for other purposes.	Motion to reconsider laid on the table Agreed to without objection.	Similar To

Bill > HR1916

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (4)

Last Action

Official Document

bill text

bill summary

bill summary

bill summary