S.Amdt. 2855
What it does: 4 changes: inserts text, replaces text in 3 places
Sen. Richard J. Durbin (D-IL)What it changes
4 changes to S.Amdt. 2746
Change 1: Inserts new text on page 186, between lines 4 and 5
InsertsInserted: (2) Insufficient funds in years 1 though 6.--
Inserted: (A) In general.--Notwithstanding any provision of sections 202 or 203 or this section, during the 6-year period beginning on the date of enactment of this Act, if at any time during such period the Administrator determines that there are insufficient funds available to pay all qualifying claims that have been received and to satisfy all other obligations of the Fund, the Administrator shall impose on each defendant participant in Tier I and Tier II a surcharge in such amounts as necessary to meet the cost of paying such claims and satisfying such other obligations.
Inserted: (B) Pro rata basis.--Any surcharge imposed under subparagraph (A) shall be imposed on a prorated basis in accordance with the liability of each defendant participant established under sections 202 and 203.
Original wording
On page 186, between lines 4 and 5, insert the following:
Change 2: Replaces “(2)” with “(3)”
ReplacesPage 186, line 5[struck: (2)][inserted: (3)]Original wording
On page 186, line 5, strike “(2)” and insert “(3)”.
Change 3: Replaces “(3)” with “(4)”
ReplacesPage 186, line 15[struck: (3)][inserted: (4)]Original wording
On page 186, line 15, strike “(3)” and insert “(4)”.
Change 4: Rewrites page 243, lines 7–15
ReplacesRemoves page 243, lines 7–15.
Inserted: (3) Borrowing capacity.--The Administrator is authorized to borrow, in any calendar year, an amount not to exceed anticipated contributions to the Fund in the following calendar year for purposes of carrying out the obligations of the Fund under this Act.
Original wording
On page 243, strike lines 7 through 15, and insert the following:
Read automatically from the Congressional Record. Check the original before relying on it.
As printed
SA 2855. Mr. DURBIN submitted an amendment intended to be proposed to amendment SA 2746 proposed by Mr. Frist (for Mr. Specter (for himself and Mr. Leahy)) to the bill S. 852, to create a fair and efficient system to resolve claims of victims for bodily injury caused by asbestos exposure, and for other purposes; which was ordered to lie on the table; as follows:
On page 186, between lines 4 and 5, insert the following:
(2) Insufficient funds in years 1 though 6.--
(A) In general.--Notwithstanding any provision of sections 202 or 203 or this section, during the 6-year period beginning on the date of enactment of this Act, if at any time during such period the Administrator determines that there are insufficient funds available to pay all qualifying claims that have been received and to satisfy all other obligations of the Fund, the Administrator shall impose on each defendant participant in Tier I and Tier II a surcharge in such amounts as necessary to meet the cost of paying such claims and satisfying such other obligations.
(B) Pro rata basis.--Any surcharge imposed under subparagraph (A) shall be imposed on a prorated basis in accordance with the liability of each defendant participant established under sections 202 and 203.
On page 186, line 5, strike “(2)” and insert “(3)”.
On page 186, line 15, strike “(3)” and insert “(4)”.
On page 243, strike lines 7 through 15, and insert the following:
(3) Borrowing capacity.--The Administrator is authorized to borrow, in any calendar year, an amount not to exceed anticipated contributions to the Fund in the following calendar year for purposes of carrying out the obligations of the Fund under this Act.
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Senate amendment submitted
February 14, 2006