PUBLIC LAW 96-364—SEPT. 26, 1980
94 STAT. 1225
units with respect to which the employer has an obligation to contribute for such year equals or exceeds 110 percent (or such other percentage as the plan may provide by amendment and which is not prohibited under regulations prescribed by the corporation) of the number of contribution base units with respect to which the employer had an obligation to contribute in the partial withdrawal year, then the amount of the employer's partial withdrawal liability payment for such year shall be reduced pro rata, in accordance with regulations prescribed by the corporation. "(d)(1) An employer to whom section 42020t)) (relating to the building and construction industry) applies is liable for a partial withdrawal only if the employer's obligation to contribute under the plan is continued for no more than an insubstantial portion of its work in the craft and area jurisdiction of the collective bargaining agreement of the type for which contributions are required. "(2) An employer to whom section 4202(c) (relating to the entertainment industry) applies shall have no liability for a partial withdrawal except under the conditions and to the extent prescribed by the corporation by regulation. "(e)(1) The corporation may prescribe regulations providing for the reduction or elimination of partial withdrawal liability under any conditions with respect to which the corporation determines that reduction or elimination of partial withdrawal liability is consistent with the purposes of this Act. "(2) Under such regulations, reduction of withdrawal liability shall be provided only with respect to subsequent changes in the employer's contributions for the same operations, or under the same collective bargaining agreement, that gave rise to the partial withdrawal, and changes in the employer's contribution base units with respect to other facilities or other collective bargaining agreements shall not be taken into account. "(3) The corporation shall prescribe by regulation a procedure by Regulations. which a plan may by amendment adopt rules for the reduction or elimination of partial withdrawal liability under any other conditions, subject to the approval of the corporation based on its determination that adoption of such rules by the plan is consistent with the purposes of this Act. "DE MINIMIS RULE
"SEC. 4209. (a) Except in the case of a plan amended under Unfunded vested subsection (b), the amount of the unfunded vested benefits allocable benefits. 1389. 29 USC under section 4211 to an employer who withdraws from a plan shall be reduced by the smaller of— "(1) % of 1 percent of the plan's unfunded vested obligations (determined as of the end of the plan year ending before the date of withdrawal), or "(2) $50,000, reduced by the amount, if any, by which the unfunded vested benefits allowable to the employer, determined without regard to this subsection, exceeds $100,000. "(b) A plan may be amended to provide for the reduction of the amount determined under section 4211 by not more than the greater of— "(1) the amount determined under subsection (a), or "(2) the lesser of— "(A) the amount determined under subsection (a)(1), or "(B) $100,000,
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