; and (3) by adding at the end the following: In the case of a failure with respect to section 6059A, the amount imposed under this subsection shall not be paid from the assets of the plan. . (c) Clerical amendment The table of sections for subpart E of part III of subchapter A of chapter 61 of the Internal Revenue Code of 1986 is amended by adding at the end the following new item: Sec. 6059A. Reports of plans receiving pension rehabilitation loans. . 8. PBGC financial assistance (a) In general Section 4261 of the Employee Retirement Income Security Act of 1974 ( 29 U.S.C. 1431 ) is amended by adding at the end the following new subsection: (d) (1) The plan sponsor of a multiemployer plan— (A) which is in critical and declining status (within the meaning of section 305(b)(6)), or (B) which is insolvent but has not been terminated and is receiving assistance from the corporation (other than assistance under this subsection), and which is applying for a loan under section 4(a) of the Butch Lewis Act of 2017 may also apply to the corporation for financial assistance under this subsection, by jointly submitting such applications in accordance with section 4(d)(2) of such Act. The application for financial assistance under this subsection shall demonstrate, based on projections by the plan actuary, that after the receipt of the anticipated loan amount under section 4(a) of such Act, the plan will still become (or remain) insolvent within the 30-year period beginning on the date of the loan. (2) In the case of a plan described in paragraph (1)(A), the financial assistance provided pursuant to such application under this subsection shall be the amount (determined by the plan actuary and submitted on the application) equal to the sum of— (A) the percentage of benefits of participants and beneficiaries of the plan in pay status at the time of the application, and (B) the percentage of future benefits to which participants who have separated from service but are not yet in pay status are entitled, which, if such