Prioritizing Our Workers Act

II 116TH CONGRESS 1ST SESSION S. 1486 To amend title 11, United States Code, to include certain pensions as administrative expenses in bankruptcy, and for other purposes. IN THE SENATE OF THE UNITED STATES MAY 15, 2019 Mr. MANCHIN introduced the following bill; which was read twice and referred to the Committee on Health, Education, Labor, and Pensions A BILL To amend title 11, United States Code, to include certain pensions as administrative expenses in bankruptcy, and for other purposes. Be it enacted by the Senate and House of Representa- 1 tives of the United States of America in Congress assembled, 2 SECTION 1. SHORT TITLE. 3 This Act may be cited as the ‘‘Prioritizing Our Work- 4 ers Act’’. 5 SEC. 2. ALLOWANCE OF ADMINISTRATIVE EXPENSES. 6 (a) IN GENERAL.—Section 503(b) of title 11, United 7 States Code, is amended— 8 (1) in paragraph (8)(B), by striking ‘‘and’’ at 9 the end; 10 VerDate Sep 11 2014 19:01 May 31, 2019 Jkt 034408 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\S1486.IS S1486 pbinns on DSK79D2C42PROD with BILLS 2 •S 1486 IS (2) in paragraph (9), by striking the period at 1 the end and inserting a semicolon; and 2 (3) by inserting after paragraph (9) the fol- 3 lowing: 4 ‘‘(10) notwithstanding section 507(a)(5), all un- 5 funded vested benefits in a defined benefit pension 6 plan; and 7 ‘‘(11) withdrawal liability determined under 8 part 1 of subtitle E of title IV of the Employee Re- 9 tirement Income Security Act of 1974 (29 U.S.C. 10 1381 et seq.).’’. 11 (b) CONFORMING AMENDMENT.—Section 507(a)(5) 12 is amended by inserting ‘‘except as provided in section 13 503(b)(10),’’ after ‘‘Fifth,’’. 14 Æ VerDate Sep 11 2014 19:01 May 31, 2019 Jkt 034408 PO 00000 Frm 00002 Fmt 6652 Sfmt 6301 E:\BILLS\S1486.IS S1486 pbinns on DSK79D2C42PROD with BILLS