PUBLIC LAW 109–280—AUG. 17, 2006
120 STAT. 823
‘‘(C) EXCEPTION FOR CERTAIN WAIVERS.— ‘‘(i) IN GENERAL.—The preceding provisions of this paragraph shall not apply to any plan with respect to which the sum of— ‘‘(I) the aggregate unpaid minimum required contributions (within the meaning of section 4971(c)(4)) for the plan year and all preceding plan years, and ‘‘(II) the present value of all waiver amortization installments determined for the plan year and succeeding plan years under section 430(e)(2), is less than $1,000,000. ‘‘(ii) TREATMENT OF WAIVERS FOR WHICH APPLICATIONS ARE PENDING.—The amount described in clause (i)(I) shall include any increase in such amount which would result if all applications for waivers of the minimum funding standard under this subsection which are pending with respect to such plan were denied. ‘‘(5) SPECIAL RULES FOR SINGLE-EMPLOYER PLANS.— ‘‘(A) APPLICATION MUST BE SUBMITTED BEFORE DATE 1⁄2 MONTHS AFTER CLOSE OF YEAR.—In the case of a defined 2 benefit plan which is not a multiemployer plan, no waiver may be granted under this subsection with respect to any plan for any plan year unless an application therefor is submitted to the Secretary not later than the 15th day of the 3rd month beginning after the close of such plan year. ‘‘(B) SPECIAL RULE IF EMPLOYER IS MEMBER OF CONTROLLED GROUP.—In the case of a defined benefit plan which is not a multiemployer plan, if an employer is a member of a controlled group, the temporary substantial business hardship requirements of paragraph (1) shall be treated as met only if such requirements are met— ‘‘(i) with respect to such employer, and ‘‘(ii) with respect to the controlled group of which such employer is a member (determined by treating all members of such group as a single employer). The Secretary may provide that an analysis of a trade or business or industry of a member need not be conducted if the Secretary determines such analysis is not necessary because the taking into account of such member would not significantly affect the determination under this paragraph. ‘‘(6) ADVANCE NOTICE.— ‘‘(A) IN GENERAL.—The Secretary shall, before granting a waiver under this subsection, require each applicant to provide evidence satisfactory to the Secretary that the applicant has provided notice of the filing of the application for such waiver to each affected party (as defined in section 4001(a)(21) of the Employee Retirement Income Security Act of 1974). Such notice shall include a description of the extent to which the plan is funded for benefits which are guaranteed under title IV of the Employee Retirement Income Security Act of 1974 and for benefit liabilities. ‘‘(B) CONSIDERATION OF RELEVANT INFORMATION.—The Secretary shall consider any relevant information provided
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