PUBLIC LAW 100-203—DEC. 22, 1987 li -r b
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101 STAT. 1330-353
(ii) by striking o u t "SUBSTANTIAL" in the headings of paragraph s (1) and (2).
(C) H A R D S H I P MUST ALSO EXIST AT CONTROLLED GROUP
LEVEL.—Subsection (d) of section 412 of the 1986 Code is amended by adding a t the e n d thereof the following new paragraph:
26 USC 412.
"(5) SPECIAL RULE I F EMPLOYER IS MEMBER O F CONTROLLED GROUP.—
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"(A) IN GENERAL.—In the case of a plan other than a multiemployer plan, if a n employer is a m e m b e r of a controlled group, the temporary substantial business hardship requirements of paragraph (1) shall be treated as m e t only if such requirements a r e met— "(i) with respect to such employer, and "(ii) w i t h respect to the controlled group of which such employer is a m e m b e r (determined by t r e a t i n g all m e m b e r s of such group as a single employer). The Secretary may provide that a n analysis of a trade o r business or i n d u s t r y of a m e m b e r need not be conducted if the Secretary determine s such analysis is not necessary because the taking into account of such m e m b e r would not significantly affect the determination under this subsection. "(B) CONTROLLED G R O U P. — For purposes of subparagraph
(A), the term 'controlled group' means any group t r e a t e d a s a single employer under subsection (b), (c), (m), or (o) of section 414." (2) AMENDMENTS TO ERISA.— (A) APPLICATION MUST BE SUBMITTED BEFORE DATE 2 ¥2
MONTHS AFTER CLOSE OF YEAR.—SectioD 303 of ERISA (relating to v a r i a n c e from minimum funding standard) (29 U.S.C. 1083) is amended by redesignating subsection (d) as subsection (f) and by inserting after subsection (c) the following new subsection: '(d) SPECIAL RULES. — "(1) APPLICATION MUST BE SUBMITTED BEFORE DATE 2 ¥2 MONTHS AFTER CLOSE O F YEAR.—In the case of a p l a n other than a
multiemployer plan, no waiver may be g r a n t e d under this section w i t h respect to any plan for any plan year unless a n application therefor is submitted to the Secretary of the Treasury not l a t e r than the 15th d a y of the 3rd month beginning after the close of such plan year." (B) W A IV E R ALLOWED ONLY FOR TEMPORARY HARDSHIP.—
Section 303 of ERISA (29 U.S.C. 1083) is amended by striking o u t "substantial business h a r d s h i p " in subsections (a) and (b) and inserting in lieu thereof " temporary s u b s t a n t i a l business h a r d s h i p (substantial business h a r d s h i p in the case of a multiemployer plan)". (C) H A R D S H I P MUST ALSO EXIST AT CONTROLLED GROUP
LEVEL.—Subsection (d) of section 303 of ERISA (as amended by subparagraph (A)) (29 U.S.C. 1083) is amended by adding a t the end thereof the following new paragraph: "(2) SPECIAL RULE I F EMPLOYER IS MEMBER O F CONTROLLED GROUP.—
"(A) IN GENERAL.—In the case of a plan other than a multiemployer plan, if a n employer is a m e m b e r of a controlled group, the temporary substantial business hard-
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