Bill Summary & Status for the 107th Congress

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S.2189
Title: A bill to amend the Trade Act of 1974 to remedy certain effects of injurious steel imports by protecting benefits of steel industry retirees and encouraging the strengthening of the American steel industry.
Sponsor: Sen Rockefeller, Jay [WV] (introduced 4/17/2002)      Cosponsors: 15
Latest Major Action: 4/17/2002 Referred to Senate committee. Status: Read twice and referred to the Committee on Finance.
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TITLE(S):  (italics indicate a title for a portion of a bill)
STATUS: (color indicates Senate actions)
4/17/2002:
Introductory remarks on measure. (CR S2842-2844)
4/17/2002:
Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S2844-2847)
COMMITTEE(S):
RELATED BILL DETAILS:

***NONE***

AMENDMENT(S):

***NONE***

COSPONSORS(15), ALPHABETICAL [followed by Cosponsors withdrawn]:     (Sort: by date)

Sen Bayh, Evan - 8/1/2002 [IN] Sen Clinton, Hillary Rodham - 4/17/2002 [NY]
Sen Daschle, Thomas A. - 4/17/2002 [SD] Sen Dayton, Mark - 4/17/2002 [MN]
Sen DeWine, Michael - 5/14/2002 [OH] Sen Durbin, Richard J. - 4/17/2002 [IL]
Sen Kennedy, Edward M. - 4/29/2002 [MA] Sen Kerry, John F. - 4/23/2002 [MA]
Sen Mikulski, Barbara A. - 4/17/2002 [MD] Sen Sarbanes, Paul S. - 4/17/2002 [MD]
Sen Schumer, Charles E. - 4/22/2002 [NY] Sen Specter, Arlen - 4/17/2002 [PA]
Sen Stabenow, Debbie - 4/24/2002 [MI] Sen Torricelli, Robert G. - 5/7/2002 [NJ]
Sen Wellstone, Paul D. - 4/17/2002 [MN]

SUMMARY AS OF:
4/17/2002--Introduced.

Steel Industry Consolidation and Retiree Benefits Protection Act of 2002 - Amends the Trade Act of 1974 to establish a steel industry retiree benefits protection program administered by the Secretary of Commerce and the Board of Trustees of the Steel Industry Legacy Relief Trust Fund (created by this Act) to provide specified medical and death benefits to eligible steel retirees and beneficiaries.

Prescribes qualifying events (acquisition, closing, election, or bankruptcy transfer) as a result of which the United States shall assume liability for the provision of steel retiree benefits for each eligible retiree and eligible beneficiary certified for participation in the retiree benefits program.

Requires transfer to the Trust Fund by a qualified steel company and any applicable acquiring company of all assets which, under the terms of an applicable collective bargaining agreement, were required to be set aside under an employee benefit plan or otherwise for the provision of the steel retiree benefits. Requires contributions to the Trust Fund by such companies.