A bill to amend the Internal Revenue Code of 1954 to ensure that the deduction for contributions to a black lung benefit trust be allowed for any such contributions which are made for the purpose of satisfying unfunded future liability, and for other purposes.

Amends the Internal Revenue Code to allow an additional income tax deduction for contributions to a tax-exempt black lung disability trust for the funding of future liabilities incurred by an employer. Limits the amount of the deduction to an amount, determined according to sound actuarial methods, which is necessary to fund the remaining unfunded liability of the taxpayer for black lung claims filed (or expected to be filed) by past or present employees of the taxpayer, or an amount necessary to pay all black lung benefits for the current taxable year.

Requires that deductions for such estimated unfunded liability be taken over a funding period which is the greater of the average remaining working life of miners who are present employees of the taxpayer or ten taxable years. Disallows an income tax deduction taken as an ordinary and necessary business expense for direct payments outside the trust for black lung benefit liabilities.

Opens to public inspection the exemption application and tax returns of a black lung disability trust. Prohibits the disclosure of confidential business information of contributors to a black lung trust.