1. Short titles
This Act may be cited as the “Railroad Employee Equity and Fairness Act” or the “REEF Act”.
Railroad Employee Equity and Fairness Act
A BILL
To exempt payments made from the Railroad Unemployment Insurance Account from sequestration under the Balanced Budget and Emergency Deficit Control Act of 1985.
2. Treatment of payments from the Railroad Unemployment Insurance Account
In general— Section 256(i)(1) of the Balanced Budget and Emergency Deficit Control Act of 1985 (2 U.S.C. 906(i)(1)) is amended—
in subparagraph (B), by striking “and” at the end;
in subparagraph (C), by inserting “and” at the end; and
by inserting after subparagraph (C) the following new subparagraph:
“(D) any payment made from the Railroad Unemployment Insurance Account (established by section 10 of the Railroad Unemployment Insurance Act) for the purpose of carrying out the Railroad Unemployment Insurance Act, and funds appropriated or transferred to or otherwise deposited in such Account,”
Effective date— The treatment of payments made from the Railroad Unemployment Insurance Account pursuant to the amendment made by subsection (a) shall take effect 7 days after the date of enactment of this Act and shall apply only to obligations incurred on or after such effective date for such payments.