124 STAT. 1296 PUBLIC LAW 111–192—JUNE 25, 2010 ‘‘(II) APPLICABLE PREFERRED STOCK.—For pur- poses of subclause (I), the term ‘applicable pre- ferred stock’ means preferred stock which was issued before March 1, 2010 (or which was issued after such date and is held by an employee benefit plan subject to the provisions of title I of Employee Retirement Income Security Act of 1974). ‘‘(F) OTHER DEFINITIONS AND RULES.—For purposes of this paragraph— ‘‘(i) PLAN SPONSOR.—The term ‘plan sponsor’ includes any member of the plan sponsor’s controlled group (as defined in section 412(d)(3)). ‘‘(ii) RESTRICTION PERIOD.—The term ‘restriction period’ means, with respect to any election year— ‘‘(I) except as provided in subclause (II), the 3-year period beginning with the election year (or, if later, the first plan year beginning after December 31, 2009), and ‘‘(II) if the plan sponsor elects 15-year amortization for the shortfall amortization base for the election year, the 5-year period beginning with the election year (or, if later, the first plan year beginning after December 31, 2009). ‘‘(iii) ELECTIONS FOR MULTIPLE PLANS.—If a plan sponsor makes elections under paragraph (2)(D) with respect to 2 or more plans, the Secretary shall provide rules for the application of this paragraph to such plans, including rules for the ratable allocation of any installment acceleration amount among such plans on the basis of each plan’s relative reduction in the plan’s shortfall amortization installment for the first plan year in the amortization period described in subpara- graph (A) (determined without regard to this para- graph). ‘‘(iv) MERGERS AND ACQUISITIONS.—The Secretary shall prescribe rules for the application of paragraph (2)(D) and this paragraph in any case where there is a merger or acquisition involving a plan sponsor making the election under paragraph (2)(D).’’. (3) CONFORMING AMENDMENTS.—Section 430 is amended— (A) in subsection (c)(1), by striking ‘‘the shortfall amortization bases for such plan year and each of the 6 preceding plan years’’ and inserting ‘‘any shortfall amortization base which has not been fully amortized under this subsection’’, and (B) in subsection (j)(3), by adding at the end the fol- lowing: ‘‘(F) QUARTERLY CONTRIBUTIONS NOT TO INCLUDE CER- TAIN INCREASED CONTRIBUTIONS.—Subparagraph (D) shall be applied without regard to any increase under subsection (c)(7).’’. (c) EFFECTIVE DATE.—The amendments made by this section shall apply to plan years beginning after December 31, 2007. 26 USC 430 note. Applicability. 26 USC 430. Definition.
