((a)) ** Establishment of four revolving funds on books of Treasury of the United States** There are established on the books of the Treasury of the United States four revolving funds to be used by the corporation in carrying out its duties under this subchapter. One of the funds shall be used with respect to basic benefits guaranteed under , one of the funds shall be used with respect to basic benefits guaranteed under , one of the funds shall be used with respect to nonbasic benefits guaranteed under (if any), and the remaining fund shall be used with respect to nonbasic benefits guaranteed under (if any), other than subsection (g)(2) thereof (if any). Whenever in this subchapter reference is made to the term “fund” the reference shall be considered to refer to the appropriate fund established under this subsection.section 1322 of this titlesection 1322a of this titlesection 1322 of this titlesection 1322a of this title

((b)) ** Credits to funds; availability of funds; investment of moneys in excess of current needs**

((1)) Each fund established under this section shall be credited with the appropriate portion of—

((A)) premiums, penalties, interest, and charges collected under this subchapter,

((B)) the value of the assets of a plan administered under by a trustee to the extent that they exceed the liabilities of such plan,

((C)) the amount of any employer liability payments under subtitle D, to the extent that such payments exceed liabilities of the plan (taking into account all other plan assets),

((D)) earnings on investments of the fund or on assets credited to the fund under this subsection,

((E)) attorney’s fees awarded to the corporation, and

((F)) receipts from any other operations under this subchapter.

((2)) Subject to the provisions of subsection (a), each fund shall be available—

((A)) for making such payments as the corporation determines are necessary to pay benefits guaranteed under section 1322 or 1322a of this title or benefits payable under ,

((B)) to purchase assets from a plan being terminated by the corporation when the corporation determines such purchase will best protect the interests of the corporation, participants in the plan being terminated, and other insured plans,

((C)) to pay the operational and administrative expenses of the corporation, including reimbursement of the expenses incurred by the Department of the Treasury in maintaining the funds, and the Comptroller General in auditing the corporation, and

((D)) to pay to participants and beneficiaries the estimated amount of benefits which are guaranteed by the corporation under this subchapter and the estimated amount of other benefits to which plan assets are allocated under , under single-employer plans which are unable to pay benefits when due or which are abandoned.

((3))

((A)) Whenever the corporation determines that the moneys of any fund are in excess of current needs, it may request the investment of such amounts as it determines advisable by the Secretary of the Treasury in obligations issued or guaranteed by the United States.

((B)) Notwithstanding subparagraph (A)—

((i)) the amounts of premiums received under with respect to the fund to be used for basic benefits under in a fiscal year in the period beginning with fiscal year 2016 and ending with fiscal year 2020 shall be placed in a noninterest-bearing account within such fund in the following amounts:

((I)) for fiscal year 2016, $108,000,000;

((II)) for fiscal year 2017, $111,000,000;

((III)) for fiscal year 2018, $113,000,000;

((IV)) for fiscal year 2019, $149,000,000; and

((V)) for fiscal year 2020, $296,000,000;

((ii)) premiums received in fiscal years specified in subclauses (I) through (V) of clause (i) shall be allocated in order first to the noninterest-bearing account in the amount specified and second to any other accounts within such fund; and

((iii)) financial assistance, as provided under , shall be withdrawn proportionately from the noninterest-bearing and other accounts within the fund.

((c)) ** Repealed. , , **

((d)) ** Establishment of fifth fund; purpose, availability, etc.**

((1)) A fifth fund shall be established for the reimbursement of uncollectible withdrawal liability under , and shall be credited with the appropriate—

((A)) premiums, penalties, and interest charges collected under this subchapter, and

((B)) earnings on investments of the fund or on assets credited to the fund.

((2)) The corporation may invest amounts of the fund in such obligations as the corporation considers appropriate.

((e)) ** Establishment of sixth fund; purpose, availability, etc.**

((1)) A sixth fund shall be established for the supplemental benefit guarantee program provided under .

((2)) Such fund shall be credited with the appropriate—

((A)) premiums, penalties, and interest charges collected under , and

((B)) earnings on investments of the fund or on assets credited to the fund.

((3)) The corporation may invest amounts of the fund in such obligations as the corporation considers appropriate.

((f)) ** Deposit of premiums into separate revolving fund**

((1)) A seventh fund shall be established and credited with—

((A)) premiums, penalties, and interest charges collected under (not described in subparagraph (B)) to the extent attributable to the amount of the premium in excess of $8.50,

((B)) premiums, penalties, and interest charges collected under , and

((C)) earnings on investments of the fund or on assets credited to the fund.

((2)) Amounts in the fund shall be available for transfer to other funds established under this section with respect to a single-employer plan but shall not be available to pay—

((A)) administrative costs of the corporation, or

((B)) benefits under any plan which was terminated before ,

((3)) The corporation may invest amounts of the fund in such obligations as the corporation considers appropriate.

((g)) ** Other use of funds; deposits of repayments**

((1)) Amounts in any fund established under this section may be used only for the purposes for which such fund was established and may not be used to make loans to (or on behalf of) any other fund or to finance any other activity of the corporation.

((2)) Any repayment to the corporation of any amount paid out of any fund in connection with a multiemployer plan shall be deposited in such fund.

((h)) ** Voting by corporation of stock paid as liability** Any stock in a person liable to the corporation under this subchapter which is paid to the corporation by such person or a member of such person’s controlled group in satisfaction of such person’s liability under this subchapter may be voted only by the custodial trustees or outside money managers of the corporation.

((i)) ** Special financial assistance for multiemployer pension plans**

((1)) An eighth fund shall be established for special financial assistance to multiemployer pension plans, as provided under , and to pay for necessary administrative and operating expenses of the corporation relating to such assistance.

((2)) There is appropriated from the general fund such amounts as are necessary for the costs of providing financial assistance under and necessary administrative and operating expenses of the corporation. The eighth fund established under this subsection shall be credited with amounts from time to time as the Secretary of the Treasury, in conjunction with the Director of the Pension Benefit Guaranty Corporation, determines appropriate, from the general fund of the Treasury, but in no case shall such transfers occur after .