§ 192. Contributions to black lung benefit trust
(b)
Limitation
The maximum amount of the deduction allowed by subsection (a) for any taxpayer for any taxable year shall not exceed the greater of—
(c)
Special rules
(1)
Method of determining amounts referred to in subsection (b)
(A)
In general
The amounts described in subsection (b) shall be determined by using reasonable actuarial methods and assumptions which are not inconsistent with regulations prescribed by the Secretary.
(B)
Funding period
Except as provided in subparagraph (C), the funding period for purposes of subsection (b)(1) shall be the greater of—
(2)
Benefit payments taken into account
In determining the amounts described in subsection (b), only those black lung benefit claims the payment of which is expected to be made from the trust shall be taken into account.
(3)
Time when contributions deemed made
For purposes of this section, a taxpayer shall be deemed to have made a payment of a contribution on the last day of a taxable year if the payment is on account of that taxable year and is made not later than the time prescribed by law for filing the return for that taxable year (including extensions thereof).
(4)
Contributions to be in cash or certain other items
No deduction shall be allowed under subsection (a) with respect to any contribution to a trust described in section
501
(c)(21) other than a contribution in cash or in items in which such trust may invest under subclause (II) of section
501
(c)(21)(A)(ii).
(d)
Carryover of excess contributions
If the amount of the deduction determined under subsection (a) for the taxable year (without regard to the limitation imposed by subsection (b)) with respect to a trust exceeds the limitation imposed by subsection (b) for the taxable year, the excess shall be carried over to the succeeding taxable year and treated as contributed to the trust during that year.
(e)
Definition of black lung benefit claim
For purposes of this section, the term “black lung benefit claim” means a claim for compensation for disability or death due to pneumoconiosis under part C of title IV of the Federal Mine Safety and Health Act of 1977 or under any State law providing for such compensation.