
From the U.S. Code Online via GPO Access
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[Laws in effect as of January 23, 2000]
[Document affected by Public Law 107-134 Section 301]
[CITE: 42USC401]

 
                 TITLE 42--THE PUBLIC HEALTH AND WELFARE
 
                       CHAPTER 7--SOCIAL SECURITY
 
  SUBCHAPTER II--FEDERAL OLD-AGE, SURVIVORS, AND DISABILITY INSURANCE 
                                BENEFITS
 
Sec. 401. Trust Funds


(a) Federal Old-Age and Survivors Insurance Trust Fund

    There is hereby created on the books of the Treasury of the United 
States a trust fund to be known as the ``Federal Old-Age and Survivors 
Insurance Trust Fund''. The Federal Old-Age and Survivors Insurance 
Trust Fund shall consist of the securities held by the Secretary of the 
Treasury for the Old-Age Reserve Account and the amount standing to the 
credit of the Old-Age Reserve Account on the books of the Treasury on 
January 1, 1940, which securities and amount the Secretary of the 
Treasury is authorized and directed to transfer to the Federal Old-Age 
and Survivors Insurance Trust Fund, and, in addition, such gifts and 
bequests as may be made as provided in subsection (i)(1) of this 
section, and such amounts as may be appropriated to, or deposited in, 
the Federal Old-Age and Survivors Insurance Trust Fund as hereinafter 
provided. There is hereby appropriated to the Federal Old-Age and 
Survivors Insurance Trust Fund for the fiscal year ending June 30, 1941, 
and for each fiscal year thereafter, out of any moneys in the Treasury 
not otherwise appropriated, amounts equivalent to 100 per centum of--
        (1) the taxes (including interest, penalties, and additions to 
    the taxes) received under subchapter A of chapter 9 of the Internal 
    Revenue Code of 1939 (and covered into the Treasury) which are 
    deposited into the Treasury by collectors of internal revenue before 
    January 1, 1951; and
        (2) the taxes certified each month by the Commissioner of 
    Internal Revenue as taxes received under subchapter A of chapter 9 
    of such Code which are deposited into the Treasury by collectors of 
    internal revenue after December 31, 1950, and before January 1, 
    1953, with respect to assessments of such taxes made before January 
    1, 1951; and
        (3) the taxes imposed by subchapter A of chapter 9 of such Code 
    with respect to wages (as defined in section 1426 of such Code), and 
    by chapter 21 (other than sections 3101(b) and 3111(b)) of the 
    Internal Revenue Code of 1954 with respect to wages (as defined in 
    section 3121 of such Code) reported to the Commissioner of Internal 
    Revenue pursuant to section 1420(c) of the Internal Revenue Code of 
    1939 after December 31, 1950, or to the Secretary of the Treasury or 
    his delegates pursuant to subtitle F of the Internal Revenue Code of 
    1954 after December 31, 1954, as determined by the Secretary of the 
    Treasury by applying the applicable rates of tax under such 
    subchapter or chapter 21 (other than sections 3101(b) and 3111(b)) 
    to such wages, which wages shall be certified by the Commissioner of 
    Social Security on the basis of the records of wages established and 
    maintained by such Commissioner in accordance with such reports, 
    less the amounts specified in clause (1) of subsection (b) of this 
    section; and
        (4) the taxes imposed by subchapter E of chapter 1 of the 
    Internal Revenue Code of 1939, with respect to self-employment 
    income (as defined in section 481 of such Code), and by chapter 2 
    (other than section 1401(b)) of the Internal Revenue Code of 1954 
    with respect to self-employment income (as defined in section 1402 
    of such Code) reported to the Commissioner of Internal Revenue on 
    tax returns under such subchapter or to the Secretary of the 
    Treasury or his delegate on tax returns under subtitle F of such 
    Code, as determined by the Secretary of the Treasury by applying the 
    applicable rate of tax under such subchapter or chapter (other than 
    section 1401(b)) to such self-employment income, which self-
    employment income shall be certified by the Commissioner of Social 
    Security on the basis of the records of self-employment income 
    established and maintained by the Commissioner of Social Security in 
    accordance with such returns, less the amounts specified in clause 
    (2) of subsection (b) of this section.

The amounts appropriated by clauses (3) and (4) of this subsection shall 
be transferred from time to time from the general fund in the Treasury 
to the Federal Old-Age and Survivors Insurance Trust Fund, and the 
amounts appropriated by clauses (1) and (2) of subsection (b) of this 
section shall be transferred from time to time from the general fund in 
the Treasury to the Federal Disability Insurance Trust Fund, such 
amounts to be determined on the basis of estimates by the Secretary of 
the Treasury of the taxes, specified in clauses (3) and (4) of this 
subsection, paid to or deposited into the Treasury; and proper 
adjustments shall be made in amounts subsequently transferred to the 
extent prior estimates were in excess of or were less than the taxes 
specified in such clauses (3) and (4) of this subsection. All amounts 
transferred to either Trust Fund under the preceding sentence shall be 
invested by the Managing Trustee in the same manner and to the same 
extent as the other assets of such Trust Fund. Notwithstanding the 
preceding sentence, in any case in which the Secretary of the Treasury 
determines that the assets of either such Trust Fund would otherwise be 
inadequate to meet such Fund's obligations for any month, the Secretary 
of the Treasury shall transfer to such Trust Fund on the first day of 
such month the amount which would have been transferred to such Fund 
under this section as in effect on October 1, 1990; and such Trust Fund 
shall pay interest to the general fund on the amount so transferred on 
the first day of any month at a rate (calculated on a daily basis, and 
applied against the difference between the amount so transferred on such 
first day and the amount which would have been transferred to the Trust 
Fund up to that day under the procedures in effect on January 1, 1983) 
equal to the rate earned by the investments of such Fund in the same 
month under subsection (d) of this section.

(b) Federal Disability Insurance Trust Fund

    There is hereby created on the books of the Treasury of the United 
States a trust fund to be known as the ``Federal Disability Insurance 
Trust Fund''. The Federal Disability Insurance Trust Fund shall consist 
of such gifts and bequests as may be made as provided in subsection 
(i)(1) of this section, and such amounts as may be appropriated to, or 
deposited in, such fund as provided in this section. There is hereby 
appropriated to the Federal Disability Insurance Trust Fund for the 
fiscal year ending June 30, 1957, and for each fiscal year thereafter, 
out of any moneys in the Treasury not otherwise appropriated, amounts 
equivalent to 100 per centum of--
        (1)(A) \1/2\ of 1 per centum of the wages (as defined in section 
    3121 of the Internal Revenue Code of 1954) paid after December 31, 
    1956, and before January 1, 1966, and reported to the Secretary of 
    the Treasury or his delegate pursuant to subtitle F of the Internal 
    Revenue Code of 1954, (B) 0.70 of 1 per centum of the wages (as so 
    defined) paid after December 31, 1965, and before January 1, 1968, 
    and so reported, (C) 0.95 of 1 per centum of the wages (as so 
    defined) paid after December 31, 1967, and before January 1, 1970, 
    and so reported, (D) 1.10 per centum of the wages (as so defined) 
    paid after December 31, 1969, and before January 1, 1973, and so 
    reported, (E) 1.1 per centum of the wages (as so defined) paid after 
    December 31, 1972, and before January 1, 1974, and so reported, (F) 
    1.15 per centum of the wages (as so defined) paid after December 31, 
    1973, and before January 1, 1978, and so reported, (G) 1.55 per 
    centum of the wages (as so defined) paid after December 31, 1977, 
    and before January 1, 1979, and so reported, (H) 1.50 per centum of 
    the wages (as so defined) paid after December 31, 1978, and before 
    January 1, 1980, and so reported, (I) 1.12 per centum of the wages 
    (as so defined) paid after December 31, 1979, and before January 1, 
    1981, and so reported, (J) 1.30 per centum of the wages (as so 
    defined) paid after December 31, 1980, and before January 1, 1982, 
    and so reported, (K) 1.65 per centum of the wages (as so defined) 
    paid after December 31, 1981, and before January 1, 1983, and so 
    reported, (L) 1.25 per centum of the wages (as so defined) paid 
    after December 31, 1982, and before January 1, 1984, and so 
    reported, (M) 1.00 per centum of the wages (as so defined) paid 
    after December 31, 1983, and before January 1, 1988, and so 
    reported, (N) 1.06 per centum of the wages (as so defined) paid 
    after December 31, 1987, and before January 1, 1990, and so 
    reported, (O) 1.20 per centum of the wages (as so defined) paid 
    after December 31, 1989, and before January 1, 1994, and so 
    reported, (P) 1.88 per centum of the wages (as so defined) paid 
    after December 31, 1993, and before January 1, 1997, and so 
    reported, (Q) 1.70 per centum of the wages (as so defined) paid 
    after December 31, 1996, and before January 1, 2000, and so 
    reported, and (R) 1.80 per centum of the wages (as so defined) paid 
    after December 31, 1999, and so reported, which wages shall be 
    certified by the Commissioner of Social Security on the basis of the 
    records of wages established and maintained by such Commissioner in 
    accordance with such reports; and
        (2)(A) \3/8\ of 1 per centum of the amount of self-employment 
    income (as defined in section 1402 of the Internal Revenue Code of 
    1954) reported to the Secretary of the Treasury or his delegate on 
    tax returns under subtitle F of the Internal Revenue Code of 1954 
    for any taxable year beginning after December 31, 1956, and before 
    January 1, 1966, (B) 0.525 of 1 per centum of the amount of self-
    employment income (as so defined) so reported for any taxable year 
    beginning after December 31, 1965, and before January 1, 1968, (C) 
    0.7125 of 1 per centum of the amount of self-employment income (as 
    so defined) so reported for any taxable year beginning after 
    December 31, 1967, and before January 1, 1970, (D) 0.825 of 1 per 
    centum of the amount of self-employment income (as so defined) so 
    reported for any taxable year beginning after December 31, 1969, and 
    before January 1, 1973, (E) 0.795 of 1 per centum of the amount of 
    self-employment income (as so defined) so reported for any taxable 
    year beginning after December 31, 1972, and before January 1, 1974, 
    (F) 0.815 of 1 per centum of the amount of self-employment income 
    (as so defined) as reported for any taxable year beginning after 
    December 31, 1973, and before January 1, 1978, (G) 1.090 per centum 
    of the amount of self-employment income (as so defined) so reported 
    for any taxable year beginning after December 31, 1977, and before 
    January 1, 1979, (H) 1.0400 per centum of the amount of self-
    employment income (as so defined) so reported for any taxable year 
    beginning after December 31, 1978, and before January 1, 1980, (I) 
    0.7775 per centum of the amount of self-employment income (as so 
    defined) so reported for any taxable year beginning after December 
    31, 1979, and before January 1, 1981, (J) 0.9750 per centum of the 
    amount of self-employment income (as so defined) so reported for any 
    taxable year beginning after December 31, 1980, and before January 
    1, 1982, (K) 1.2375 per centum of the amount of self-employment 
    income (as so defined) so reported for any taxable year beginning 
    after December 31, 1981, and before January 1, 1983, (L) 0.9375 per 
    centum of the amount of self-employment income (as so defined) so 
    reported for any taxable year beginning after December 31, 1982, and 
    before January 1, 1984, (M) 1.00 per centum of the amount of self-
    employment income (as so defined) so reported for any taxable year 
    beginning after December 31, 1983, and before January 1, 1988, (N) 
    1.06 per centum of the self-employment income (as so defined) so 
    reported for any taxable year beginning after December 31, 1987, and 
    before January 1, 1990, (O) 1.20 per centum of the amount of self-
    employment income (as so defined) so reported for any taxable year 
    beginning after December 31, 1989, and before January 1, 1994, (P) 
    1.88 per centum of the amount of self-employment income (as so 
    defined) so reported for any taxable year beginning after December 
    31, 1993, and before January 1, 1997, (Q) 1.70 per centum of the 
    amount of self-employment income (as so defined) so reported for any 
    taxable year beginning after December 31, 1996, and before January 
    1, 2000, and (R) 1.80 per centum of the amount of self-employment 
    income (as so defined) so reported for any taxable year beginning 
    after December 31, 1999, which self-employment income shall be 
    certified by the Commissioner of Social Security on the basis of the 
    records of self-employment income established and maintained by the 
    Commissioner of Social Security in accordance with such returns.

(c) Board of Trustees; duties; reports to Congress

    With respect to the Federal Old-Age and Survivors Insurance Trust 
Fund and the Federal Disability Insurance Trust Fund (hereinafter in 
this subchapter called the ``Trust Funds'') there is hereby created a 
body to be known as the Board of Trustees of the Trust Funds 
(hereinafter in this subchapter called the ``Board of Trustees'') which 
Board of Trustees shall be composed of the Commissioner of Social 
Security, the Secretary of the Treasury, the Secretary of Labor, and the 
Secretary of Health and Human Services, all ex officio, and of two 
members of the public (both of whom may not be from the same political 
party), who shall be nominated by the President for a term of four years 
and subject to confirmation by the Senate. A member of the Board of 
Trustees serving as a member of the public and nominated and confirmed 
to fill a vacancy occurring during a term shall be nominated and 
confirmed only for the remainder of such term. An individual nominated 
and confirmed as a member of the public may serve in such position after 
the expiration of such member's term until the earlier of the time at 
which the member's successor takes office or the time at which a report 
of the Board is first issued under paragraph (2) after the expiration of 
the member's term. The Secretary of the Treasury shall be the Managing 
Trustee of the Board of Trustees (hereinafter in this subchapter called 
the ``Managing Trustee''). The Deputy Commissioner of Social Security 
shall serve as Secretary of the Board of Trustees. The Board of Trustees 
shall meet not less frequently than once each calendar year. It shall be 
the duty of the Board of Trustees to--
        (1) Hold the Trust Funds;
        (2) Report to the Congress not later than the first day of April 
    of each year on the operation and status of the Trust Funds during 
    the preceding fiscal year and on their expected operation and status 
    during the next ensuing five fiscal years;
        (3) Report immediately to the Congress whenever the Board of 
    Trustees is of the opinion that the amount of either of the Trust 
    Funds is unduly small;
        (4) Recommend improvements in administrative procedures and 
    policies designed to effectuate the proper coordination of the old-
    age and survivors insurance and Federal-State unemployment 
    compensation program; and
        (5) Review the general policies followed in managing the Trust 
    Funds, and recommend changes in such policies, including necessary 
    changes in the provisions of the law which govern the way in which 
    the Trust Funds are to be managed.

The report provided for in paragraph (2) of this subsection shall 
include a statement of the assets of, and the disbursements made from, 
the Trust Funds during the preceding fiscal year, an estimate of the 
expected future income to, and disbursements to be made from, the Trust 
Funds during each of the next ensuing five fiscal years, and a statement 
of the actuarial status of the Trust Funds. Such statement shall include 
a finding by the Board of Trustees as to whether the Federal Old-Age and 
Survivors Insurance Trust Fund and the Federal Disability Insurance 
Trust Fund, individually and collectively, are in close actuarial 
balance (as defined by the Board of Trustees). Such report shall include 
an actuarial opinion by the Chief Actuary of the Social Security 
Administration certifying that the techniques and methodologies used are 
generally accepted within the actuarial profession and that the 
assumptions and cost estimates used are reasonable. Such report shall 
also include an actuarial analysis of the benefit disbursements made 
from the Federal Old-Age and Survivors Insurance Trust Fund with respect 
to disabled beneficiaries. Such report shall be printed as a House 
document of the session of the Congress to which the report is made. A 
person serving on the Board of Trustees shall not be considered to be a 
fiduciary and shall not be personally liable for actions taken in such 
capacity with respect to the Trust Funds.

(d) Investments

    It shall be the duty of the Managing Trustee to invest such portion 
of the Trust Funds as is not, in his judgment, required to meet current 
withdrawals. Such investments may be made only in interest-bearing 
obligations of the United States or in obligations guaranteed as to both 
principal and interest by the United States. For such purpose such 
obligations may be acquired (1) on original issue at the issue price, or 
(2) by purchase of outstanding obligations at the market price. The 
purposes for which obligations of the United States may be issued under 
chapter 31 of title 31 are hereby extended to authorize the issuance at 
par of public-debt obligations for purchase by the Trust Funds. Such 
obligations issued for purchase by the Trust Funds shall have maturities 
fixed with due regard for the needs of the Trust Funds and shall bear 
interest at a rate equal to the average market yield (computed by the 
Managing Trustee on the basis of market quotations as of the end of the 
calendar month next preceding the date of such issue) on all marketable 
interest-bearing obligations of the United States then forming a part of 
the public debt which are not due or callable until after the expiration 
of four years from the end of such calendar month; except that where 
such average market yield is not a multiple of one-eighth of 1 per 
centum, the rate of interest of such obligations shall be the multiple 
of one-eighth of 1 per centum nearest such market yield. Each obligation 
issued for purchase by the Trust Funds under this subsection shall be 
evidenced by a paper instrument in the form of a bond, note, or 
certificate of indebtedness issued by the Secretary of the Treasury 
setting forth the principal amount, date of maturity, and interest rate 
of the obligation, and stating on its face that the obligation shall be 
incontestable in the hands of the Trust Fund to which it is issued, that 
the obligation is supported by the full faith and credit of the United 
States, and that the United States is pledged to the payment of the 
obligation with respect to both principal and interest. The Managing 
Trustee may purchase other interest-bearing obligations of the United 
States or obligations guaranteed as to both principal and interest by 
the United States, on original issue or at the market price, only where 
he determines that the purchase of such other obligations is in the 
public interest.

(e) Sale of acquired obligations

    Any obligations acquired by the Trust Funds (except public-debt 
obligations issued exclusively to the Trust Funds) may be sold by the 
Managing Trustee at the market price, and such public-debt obligations 
may be redeemed at par plus accrued interest.

(f) Proceeds from sale or redemption of obligations; interest

    The interest on, and the proceeds from the sale or redemption of, 
any obligations held in the Federal Old-Age and Survivors Insurance 
Trust Fund and the Federal Disability Insurance Trust Fund shall be 
credited to and form a part of the Federal Old-Age and Survivors 
Insurance Trust Fund and the Disability Insurance Trust Fund, 
respectively. Payment from the general fund of the Treasury to either of 
the Trust Funds of any such interest or proceeds shall be in the form of 
paper checks drawn on such general fund to the order of such Trust Fund.

(g) Payments into Treasury

    (1)(A) The Managing Trustee of the Trust Funds (which for purposes 
of this paragraph shall include also the Federal Hospital Insurance 
Trust Fund and the Federal Supplementary Medical Insurance Trust Fund 
established by subchapter XVIII of this chapter) is directed to pay from 
the Trust Funds into the Treasury--
        (i) \1\ the amounts estimated by the Managing Trustee, the 
    Commissioner of Social Security, and the Secretary of Health and 
    Human Services which will be expended, out of moneys appropriated 
    from the general fund in the Treasury, during a three-month period 
    by the Department of Health and Human Services for the 
    administration of subchapter XVIII of this chapter, and by the 
    Department of the Treasury for the administration of subchapters II 
    and XVIII of this chapter and chapters 2 and 21 of the Internal 
    Revenue Code of 1986, less
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    \1\ So in original. Two cls. (i) and (ii) have been enacted.
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        (ii) \1\ the amounts estimated (pursuant to the applicable 
    method prescribed under paragraph (4) of this subsection) by the 
    Commissioner of Social Security which will be expended, out of 
    moneys made available for expenditures from the Trust Funds, during 
    such three-month period to cover the cost of carrying out the 
    functions of the Social Security Administration, specified in 
    section 432 of this title, which relate to the administration of 
    provisions of the Internal Revenue Code of 1986 other than those 
    referred to in clause (i) and the functions of the Social Security 
    Administration in connection with the withholding of taxes from 
    benefits, as described in section 407(c) of this title, pursuant to 
    requests by persons entitled to such benefits or such persons' 
    representative payee.

Such payments shall be carried into the Treasury as the net amount of 
repayments due the general fund account for reimbursement of expenses 
incurred in connection with the administration of subchapters II and 
XVIII of this chapter and chapters 2 and 21 of the Internal Revenue Code 
of 1986. A final accounting of such payments for any fiscal year shall 
be made at the earliest practicable date after the close thereof. There 
are hereby authorized to be made available for expenditure, out of any 
or all of the Trust Funds, such amounts as the Congress may deem 
appropriate to pay the costs of the part of the administration of this 
subchapter, subchapter VIII of this chapter, subchapter XVI of this 
chapter, and subchapter XVIII of this chapter for which the Commissioner 
of Social Security is responsible, the costs of subchapter XVIII of this 
chapter for which the Secretary of Health and Human Services is 
responsible, and the costs of carrying out the functions of the Social 
Security Administration, specified in section 432 of this title, which 
relate to the administration of provisions of the Internal Revenue Code 
of 1986 other than those referred to in clause (i) of the first sentence 
of this subparagraph and the functions of the Social Security 
Administration in connection with the withholding of taxes from 
benefits, as described in section 407(c) of this title, pursuant to 
requests by persons entitled to such benefits or such persons' 
representative payee. Of the amounts authorized to be made available out 
of the Federal Old-Age and Survivors Insurance Trust Fund and the 
Federal Disability Insurance Trust Fund under the preceding sentence, 
there are hereby authorized to be made available from either or both of 
such Trust Funds for continuing disability reviews--
        (i) \1\ for fiscal year 1996, $260,000,000;
        (ii) \1\ for fiscal year 1997, $360,000,000;
        (iii) for fiscal year 1998, $570,000,000;
        (iv) for fiscal year 1999, $720,000,000;
        (v) for fiscal year 2000, $720,000,000;
        (vi) for fiscal year 2001, $720,000,000; and
        (viii) \2\ for fiscal year 2002, $720,000,000.
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    \2\ So in original. Probably should be ``(vii)''.

For purposes of this subparagraph, the term ``continuing disability 
review'' means a review conducted pursuant to section 421(i) of this 
title and a review or disability eligibility redetermination conducted 
to determine the continuing disability and eligibility of a recipient of 
benefits under the supplemental security income program under subchapter 
XVI of this chapter, including any review or redetermination conducted 
pursuant to section 207 or 208 of the Social Security Independence and 
Program Improvements Act of 1994 (Public Law 103-296).
    (B) After the close of each fiscal year--
        (i) the Commissioner of Social Security shall determine--
            (I) the portion of the costs, incurred during such fiscal 
        year, of administration of this subchapter, subchapter VIII of 
        this chapter, subchapter XVI of this chapter, and subchapter 
        XVIII of this chapter for which the Commissioner is responsible 
        and of carrying out the functions of the Social Security 
        Administration, specified in section 432 of this title, which 
        relate to the administration of provisions of the Internal 
        Revenue Code of 1986 (other than those referred to in clause (i) 
        of the first sentence of subparagraph (A)) and the functions of 
        the Social Security Administration in connection with the 
        withholding of taxes from benefits, as described in section 
        407(c) of this title, pursuant to requests by persons entitled 
        to such benefits or such persons' representative payee, which 
        should have been borne by the general fund of the Treasury,
            (II) the portion of such costs which should have been borne 
        by the Federal Old-Age and Survivors Insurance Trust Fund,
            (III) the portion of such costs which should have been borne 
        by the Federal Disability Insurance Trust Fund,
            (IV) the portion of such costs which should have been borne 
        by the Federal Hospital Insurance Trust Fund, and
            (V) the portion of such costs which should have been borne 
        by the Federal Supplementary Medical Insurance Trust Fund, and

        (ii) the Secretary of Health and Human Services shall 
    determine--
            (I) the portion of the costs, incurred during such fiscal 
        year, of the administration of subchapter XVIII of this chapter 
        for which the Secretary is responsible, which should have been 
        borne by the general fund of the Treasury,
            (II) the portion of such costs which should have been borne 
        by the Federal Hospital Insurance Trust Fund, and
            (III) the portion of such costs which should have been borne 
        by the Federal Supplementary Medical Insurance Trust Fund.

    (C) After the determinations under subparagraph (B) have been made 
for any fiscal year, the Commisioner \3\ of Social Security and the 
Secretary shall each certify to the Managing Trustee the amounts, if 
any, which should be transferred from one to any of the other such Trust 
Funds and the amounts, if any, which should be transferred between the 
Trust Funds (or one of the Trust Funds) and the general fund of the 
Treasury, in order to ensure that each of the Trust Funds and the 
general fund of the Treasury have borne their proper share of the costs, 
incurred during such fiscal year, for--
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    \3\ So in original. Probably should be ``Commissioner''.
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        (i) the parts of the administration of this subchapter, 
    subchapter VIII of this chapter, subchapter XVI of this chapter, and 
    subchapter XVIII of this chapter for which the Commissioner of 
    Social Security is responsible,
        (ii) the parts of the administration of subchapter XVIII of this 
    chapter for which the Secretary is responsible, and
        (iii) carrying out the functions of the Social Security 
    Administration, specified in section 432 of this title, which relate 
    to the administration of provisions of the Internal Revenue Code of 
    1986 (other than those referred to in clause (i) of the first 
    sentence of subparagraph (A)) and the functions of the Social 
    Security Administration in connection with the withholding of taxes 
    from benefits, as described in section 407(c) of this title, 
    pursuant to requests by persons entitled to such benefits or such 
    persons' representative payee.

The Managing Trustee shall transfer any such amounts in accordance with 
any certification so made.
    (D) The determinations required under subclauses (IV) and (V) of 
subparagraph (B)(i) shall be made in accordance with the cost allocation 
methodology in existence on August 15, 1994, until such time as the 
methodology for making the determinations required under such subclauses 
is revised by agreement of the Commissioner and the Secretary, except 
that the determination of the amounts to be borne by the general fund of 
the Treasury with respect to expenditures incurred in carrying out the 
functions of the Social Security Administration specified in section 432 
of this title and the functions of the Social Security Administration in 
connection with the withholding of taxes from benefits as described in 
section 407(c) of this title shall be made pursuant to the applicable 
method prescribed under paragraph (4).
    (2) The Managing Trustee is directed to pay from time to time from 
the Trust Funds into the Treasury the amount estimated by him as taxes 
imposed under section 3101(a) of the Internal Revenue Code of 1986 which 
are subject to refund under section 6413(c) of such Code with respect to 
wages (as defined in section 3121 of such Code). Such taxes shall be 
determined on the basis of the records of wages maintained by the 
Commissioner of Social Security in accordance with the wages reported to 
the Secretary of the Treasury or his delegate pursuant to subtitle F of 
such Code, and the Commissioner of Social Security shall furnish the 
Managing Trustee such information as may be required by the Trustee for 
such purpose. The payments by the Managing Trustee shall be covered into 
the Treasury as repayments to the account for refunding internal revenue 
collections. Payments pursuant to the first sentence of this paragraph 
shall be made from the Federal Old-Age and Survivors Insurance Trust 
Fund and the Federal Disability Insurance Trust Fund in the ratio in 
which amounts were appropriated to such Trust Funds under clause (3) of 
subsection (a) of this section and clause (1) of subsection (b) of this 
section.
    (3) Repayments made under paragraph (1) or (2) of this subsection 
shall not be available for expenditures but shall be carried to the 
surplus fund of the Treasury. If it subsequently appears that the 
estimates under either such paragraph in any particular period were too 
high or too low, appropriate adjustments shall be made by the Managing 
Trustee in future payments.
    (4) The Commissioner of Social Security shall utilize the method 
prescribed pursuant to this paragraph, as in effect immediately before 
August 15, 1994, for determining the costs which should be borne by the 
general fund of the Treasury of carrying out the functions of the 
Commissioner, specified in section 432 of this title, which relate to 
the administration of provisions of the Internal Revenue Code of 1986 
(other than those referred to in clause (i) of the first sentence of 
paragraph (1)(A)). The Board of Trustees of such Trust Funds shall 
prescribe the method of determining the costs which should be borne by 
the general fund in the Treasury of carrying out the functions of the 
Social Security Administration in connection with the withholding of 
taxes from benefits, as described in section 407(c) of this title, 
pursuant to requests by persons entitled to such benefits or such 
persons' representative payee. If at any time or times thereafter the 
Boards of Trustees of such Trust Funds consider such action advisable, 
they may modify the method of determining such costs.

(h) Benefit payments

    Benefit payments required to be made under section 423 of this 
title, and benefit payments required to be made under subsection (b), 
(c), or (d) of section 402 of this title to individuals entitled to 
benefits on the basis of the wages and self-employment income of an 
individual entitled to disability insurance benefits, shall be made only 
from the Federal Disability Insurance Trust Fund. All other benefit 
payments required to be made under this subchapter (other than section 
426 of this title) shall be made only from the Federal Old-Age and 
Survivors Insurance Trust Fund.

(i) Gifts and bequests

    (1) The Managing Trustee may accept on behalf of the United States 
money gifts and bequests made unconditionally to the Federal Old-Age and 
Survivors Insurance Trust Fund, the Federal Disability Insurance Trust 
Fund, the Federal Hospital Insurance Trust Fund, or the Federal 
Supplementary Medical Insurance Trust Fund or to the Social Security 
Administration, the Department of Health and Human Services, or any part 
or officer thereof, for the benefit of any of such Funds or any activity 
financed through such Funds.
    (2) Any such gift accepted pursuant to the authority granted in 
paragraph (1) of this subsection shall be deposited in--
        (A) the specific trust fund designated by the donor or
        (B) if the donor has not so designated, the Federal Old-Age and 
    Survivors Insurance Trust Fund.

(j) Travel expenses

    There are authorized to be made available for expenditure, out of 
the Federal Old-Age and Survivors Insurance Trust Fund, or the Federal 
Disability Insurance Trust Fund (as determined appropriate by the 
Commissioner of Social Security), such amounts as are required to pay 
travel expenses, either on an actual cost or commuted basis, to 
individuals for travel incident to medical examinations requested by the 
Commissioner of Social Security in connection with disability 
determinations under this subchapter, and to parties, their 
representatives, and all reasonably necessary witnesses for travel 
within the United States (as defined in section 410(i) of this title) to 
attend reconsideration interviews and proceedings before administrative 
law judges with respect to any determination under this subchapter. The 
amount available under the preceding sentence for payment for air travel 
by any person shall not exceed the coach fare for air travel between the 
points involved unless the use of first-class accommodations is required 
(as determined under regulations of the Commissioner of Social Security) 
because of such person's health condition or the unavailability of 
alternative accommodations; and the amount available for payment for 
other travel by any person shall not exceed the cost of travel (between 
the points involved) by the most economical and expeditious means of 
transportation appropriate to such person's health condition, as 
specified in such regulations. The amount available for payment under 
this subsection for travel by a representative to attend an 
administrative proceeding before an administrative law judge or other 
adjudicator shall not exceed the maximum amount allowable under this 
subsection for such travel originating within the geographic area of the 
office having jurisdiction over such proceeding.

(k) Experiment and demonstration project expenditures

    Expenditures made for experiments and demonstration projects under 
section 434 of this title shall be made from the Federal Disability 
Insurance Trust Fund and the Federal Old-Age and Survivors Insurance 
Trust Fund, as determined appropriate by the Commissioner of Social 
Security.

(l) Interfund borrowing

    (1) If at any time prior to January 1988 the Managing Trustee 
determines that borrowing authorized under this subsection is 
appropriate in order to best meet the need for financing the benefit 
payments from the Federal Old-Age and Survivors Insurance Trust Fund or 
the Federal Disability Insurance Trust Fund, the Managing Trustee may 
borrow such amounts as he determines to be appropriate from the other 
such Trust Fund, or, subject to paragraph (5), from the Federal Hospital 
Insurance Trust Fund established under section 1395i of this title, for 
transfer to and deposit in the Trust Fund whose need for financing is 
involved.
    (2) In any case where a loan has been made to a Trust Fund under 
paragraph (1), there shall be transferred on the last day of each month 
after such loan is made, from the borrowing Trust Fund to the lending 
Trust Fund, the total interest accrued to such day with respect to the 
unrepaid balance of such loan at a rate equal to the rate which the 
lending Trust Fund would earn on the amount involved if the loan were an 
investment under subsection (d) of this section (even if such an 
investment would earn interest at a rate different than the rate earned 
by investments redeemed by the lending fund in order to make the loan).
    (3)(A) If in any month after a loan has been made to a Trust Fund 
under paragraph (1), the Managing Trustee determines that the assets of 
such Trust Fund are sufficient to permit repayment of all or part of any 
loans made to such Fund under paragraph (1), he shall make such 
repayments as he determines to be appropriate.
    (B)(i) If on the last day of any year after a loan has been made 
under paragraph (1) by the Federal Hospital Insurance Trust Fund to the 
Federal Old-Age and Survivors Insurance Trust Fund or the Federal 
Disability Insurance Trust Fund, the Managing Trustee determines that 
the OASDI trust fund ratio exceeds 15 percent, he shall transfer from 
the borrowing Trust Fund to the Federal Hospital Insurance Trust Fund an 
amount that--
        (I) together with any amounts transferred from another borrowing 
    Trust Fund under this paragraph for such year, will reduce the OASDI 
    trust fund ratio to 15 percent; and
        (II) does not exceed the outstanding balance of such loan.

    (ii) Amounts required to be transferred under clause (i) shall be 
transferred on the last day of the first month of the year succeeding 
the year in which the determination described in clause (i) is made.
    (iii) For purposes of this subparagraph, the term ``OASDI trust fund 
ratio'' means, with respect to any calendar year, the ratio of--
        (I) the combined balance in the Federal Old-Age and Survivors 
    Insurance Trust Fund and the Federal Disability Insurance Trust 
    Fund, as of the last day of such calendar year, to
        (II) the amount estimated by the Commissioner of Social Security 
    to be the total amount to be paid from the Federal Old-Age and 
    Survivors Insurance Trust Fund and the Federal Disability Insurance 
    Trust Fund during the calendar year following such calendar year for 
    all purposes authorized by this section (other than payments of 
    interest on, and repayments of, loans from the Federal Hospital 
    Insurance Trust Fund under paragraph (1), but excluding any transfer 
    payments between such trust funds and reducing the amount of any 
    transfer to the Railroad Retirement Account by the amount of any 
    transfers into either such trust fund from that Account).

    (C)(i) The full amount of all loans made under paragraph (1) 
(whether made before or after January 1, 1983) shall be repaid at the 
earliest feasible date and in any event no later than December 31, 1989.
    (ii) For the period after December 31, 1987, and before January 1, 
1990, the Managing Trustee shall transfer each month to the Federal 
Hospital Insurance Trust Fund from any Trust Fund with any amount 
outstanding on a loan made from the Federal Hospital Insurance Trust 
Fund under paragraph (1) an amount not less than an amount equal to (I) 
the amount owed to the Federal Hospital Insurance Trust Fund by such 
Trust Fund at the beginning of such month (plus the interest accrued on 
the outstanding balance of such loan during such month), divided by (II) 
the number of months elapsing after the preceding month and before 
January 1990. The Managing Trustee may, during this period, transfer 
larger amounts than prescribed by the preceding sentence.
    (4) The Board of Trustees shall make a timely report to the Congress 
of any amounts transferred (including interest payments) under this 
subsection.
    (5)(A) No amounts may be borrowed from the Federal Hospital 
Insurance Trust Fund under paragraph (1) during any month if the 
Hospital Insurance Trust Fund ratio for such month is less than 10 
percent.
    (B) For purposes of this paragraph, the term ``Hospital Insurance 
Trust Fund ratio'' means, with respect to any month, the ratio of--
        (i) the balance in the Federal Hospital Insurance Trust Fund, 
    reduced by the outstanding amount of any loan (including interest 
    thereon) theretofore made to such Trust Fund under this subsection, 
    as of the last day of the second month preceding such month, to
        (ii) the amount obtained by multiplying by twelve the total 
    amount which (as estimated by the Secretary) will be paid from the 
    Federal Hospital Insurance Trust Fund during the month for which 
    such ratio is to be determined (other than payments of interest on, 
    or repayments of loans from another Trust Fund under this 
    subsection), and reducing the amount of any transfers to the 
    Railroad Retirement Account by the amount of any transfer into the 
    Hospital Insurance Trust Fund from that Account.

(m) Accounting for unnegotiated benefit checks

    (1) The Secretary of the Treasury shall implement procedures to 
permit the identification of each check issued for benefits under this 
subchapter that has not been presented for payment by the close of the 
sixth month following the month of its issuance.
    (2) The Secretary of the Treasury shall, on a monthly basis, credit 
each of the Trust Funds for the amount of all benefit checks (including 
interest thereon) drawn on such Trust Fund more than 6 months previously 
but not presented for payment and not previously credited to such Trust 
Fund, to the extent provided in advance in appropriation Acts.
    (3) If a benefit check is presented for payment to the Treasury and 
the amount thereof has been previously credited pursuant to paragraph 
(2) to one of the Trust Funds, the Secretary of the Treasury shall 
nevertheless pay such check, if otherwise proper, recharge such Trust 
Fund, and notify the Commissioner of Social Security.
    (4) A benefit check bearing a current date may be issued to an 
individual who did not negotiate the original benefit check and who 
surrenders such check for cancellation if the Secretary of the Treasury 
determines it is necessary to effect proper payment of benefits.

(Aug. 14, 1935, ch. 531, title II, Sec. 201, 49 Stat. 622; Aug. 10, 
1939, ch. 666, title II, Sec. 201, 53 Stat. 1362; Feb. 25, 1944, ch. 63, 
title IX, Sec. 902, 58 Stat. 93; Aug. 28, 1950, ch. 809, title I, 
Sec. 109(a), 64 Stat. 521; Aug. 1, 1956, ch. 836, title I, Sec. 103(e), 
70 Stat. 819; Pub. L. 85-840, title II, Sec. 205(a), Aug. 28, 1958, 72 
Stat. 1021; Pub. L. 86-346, title I, Sec. 104(2), Sept. 22, 1959, 73 
Stat. 622; Pub. L. 86-778, title VII, Sec. 701(a)-(e), Sept. 13, 1960, 
74 Stat. 992, 993; Pub. L. 89-97, title I, Sec. 108(a), title III, 
Secs. 305, 327, July 30, 1965, 79 Stat. 338, 370, 400; Pub. L. 90-248, 
title I, Secs. 110, 169, Jan. 2, 1968, 81 Stat. 837, 875; Pub. L. 91-
172, title X, Sec. 1005, Dec. 30, 1969, 83 Stat. 741; Pub. L. 92-336, 
title II, Sec. 205, July 1, 1972, 86 Stat. 422; Pub. L. 92-603, title I, 
Secs. 132(a)-(c), 136, title III, Sec. 305(a), Oct. 30, 1972, 86 Stat. 
1360, 1364, 1484; Pub. L. 93-233, Sec. 7, Dec. 31, 1973, 87 Stat. 955; 
Pub. L. 94-202, Sec. 8(d), Jan. 2, 1976, 89 Stat. 1137; Pub. L. 95-216, 
title I, Sec. 102(a), Dec. 20, 1977, 91 Stat. 1513; Pub. L. 96-265, 
title III, Sec. 310(a), title V, Sec. 505(a)(5), June 9, 1980, 94 Stat. 
459, 474; Pub. L. 96-403, Sec. 1, Oct. 9, 1980, 94 Stat. 1709; Pub. L. 
97-123, Sec. 1(a), Dec. 29, 1981, 95 Stat. 1659; Pub. L. 98-21, title I, 
Secs. 126, 141(a), 142(a)(1), (2)(A), (3), (4), 152(a), 154(a), title 
III, Sec. 341(a), Apr. 20, 1983, 97 Stat. 91, 98-100, 105, 107, 135; 
Pub. L. 98-369, div. B, title VI, Secs. 2661(a), 2663(a)(1), 
(j)(2)(A)(i), July 18, 1984, 98 Stat. 1156, 1160, 1170; Pub. L. 99-272, 
title IX, Sec. 9213(a), Apr. 7, 1986, 100 Stat. 180; Pub. L. 100-360, 
title II, Sec. 212(c)(1), July 1, 1988, 102 Stat. 741; Pub. L. 100-647, 
title VIII, Sec. 8005(a), Nov. 10, 1988, 102 Stat. 3781; Pub. L. 101-
234, title II, Sec. 202(a), Dec. 13, 1989, 103 Stat. 1981; Pub. L. 101-
508, title V, Secs. 5106(c), 5115(a), title XIII, Sec. 13304, Nov. 5, 
1990, 104 Stat. 1388-268, 1388-274, 1388-627; Pub. L. 103-296, title I, 
Sec. 107(b), title III, Secs. 301(a), (b), 321(a)(1), (c)(1)(A)(i), 
(B)(i), (C), Aug. 15, 1994, 108 Stat. 1478, 1517, 1535, 1537; Pub. L. 
103-387, Sec. 3(a), (b), Oct. 22, 1994, 108 Stat. 4074, 4075; Pub. L. 
104-121, title I, Sec. 103(a), Mar. 29, 1996, 110 Stat. 848; Pub. L. 
105-277, div. J, title IV, Sec. 4005(b), Oct. 21, 1998, 112 Stat. 2681-
911; Pub. L. 106-169, title II, Sec. 251(b)(1), Dec. 14, 1999, 113 Stat. 
1854; Pub. L. 106-170, title III, Sec. 301(b)(1)(B), Dec. 17, 1999, 113 
Stat. 1902.)

                       References in Text

    Subchapter A of chapter 9 of the Internal Revenue Code of 1939, 
referred to in subsec. (a)(1) to (3), was comprised of sections 1400 to 
1432, and was repealed (subject to certain exceptions) by section 
7851(a)(3) of the Internal Revenue Code of 1986.
    Sections 1426 and 1420(c) of the Internal Revenue Code of 1939, 
referred to in subsec. (a)(3), were a part of subchapter A of chapter 9 
of the 1939 Code. See above.
    Internal Revenue Code of 1954, referred to in subsecs. (a)(3), (4) 
and (b)(1)(A), (2)(A), redesignated Internal Revenue Code of 1986 by 
Pub. L. 99-514, Sec. 2, Oct. 22, 1986, 100 Stat. 2095.
    Subchapter E of chapter 1 of the Internal Revenue Code of 1939, 
referred to in subsec. (a)(4), was comprised of sections 480 to 482, and 
was repealed (subject to certain exceptions) by section 7851(a)(1)(A) of 
the Internal Revenue Code of 1986.
    Section 481 of the Internal Revenue Code of 1939, referred to in 
subsec. (a)(4), was a part of subchapter E of chapter 1 of the 1939 
Code. See above.
    For provision deeming a reference in other laws to a provision of 
the 1939 Code as a reference to the corresponding provision of the 1986 
Code, see section 7852(b) if the 1986 Code. For table of comparisons of 
the 1939 Code to the 1986 Code, see table preceding section 1 of Title 
26, Internal Revenue Code. The Internal Revenue Code of 1986 is 
classified generally to Title 26.
    Chapters 2 and 21 and subtitle F of the Internal Revenue Code of 
1986, referred to in subsec. (g)(1)(A), (2), are classified to sections 
1401 et seq., 3101 et seq., and 6001 et seq., respectively, of Title 26, 
Internal Revenue Code.
    Section 207 or 208 of the Social Security Independence and Program 
Improvements Act of 1994, referred to in subsec. (g)(1)(A), are sections 
207 and 208 of Pub. L. 103-296. Section 208 of Pub. L. 103-296 is set 
out as a note under section 1382 of this title. Section 207 of Pub. L. 
103-296 was set out as a note under section 1382 of this title prior to 
repeal by Pub. L. 104-193, title II, Sec. 212(b)(2), (d), Aug. 22, 1996, 
110 Stat. 2193, 2194.


                               Amendments

    1999--Subsec. (g)(1)(A). Pub. L. 106-169, Sec. 251(b)(1)(A), 
inserted ``subchapter VIII of this chapter,'' after ``this subchapter,'' 
in fourth sentence.
    Subsec. (g)(1)(B)(i)(I). Pub. L. 106-169, Sec. 251(b)(1)(B), 
inserted ``subchapter VIII of this chapter,'' after ``this 
subchapter,''.
    Subsec. (g)(1)(C)(i). Pub. L. 106-169, Sec. 251(b)(1)(C), inserted 
``subchapter VIII of this chapter,'' after ``this subchapter,''.
    Subsec. (k). Pub. L. 106-170 substituted ``section 434 of this 
title'' for ``section 505(a) of the Social Security Disability 
Amendments of 1980''.
    1998--Subsec. (g)(1)(A). Pub. L. 105-277, Sec. 4005(b)(2), which 
directed the amendment of subsec. (g) by inserting ``and the functions 
of the Social Security Administration in connection with the withholding 
of taxes from benefits, as described in section 407(c) of this title, 
pursuant to requests by persons entitled to such benefits or such 
persons' representative payee'' before period at end of paragraph 
(1)(A), was executed by inserting this material after ``the first 
sentence of this subparagraph'' in provisions following cl. (ii) to 
reflect the probable intent of Congress.
    Subsec. (g)(1)(A)(ii). Pub. L. 105-277, Sec. 4005(b)(1), inserted 
before period at end ``and the functions of the Social Security 
Administration in connection with the withholding of taxes from 
benefits, as described in section 407(c) of this title, pursuant to 
requests by persons entitled to such benefits or such persons' 
representative payee''.
    Subsec. (g)(1)(B)(i)(I). Pub. L. 105-277, Sec. 4005(b)(3), 
substituted ``subparagraph (A)) and the functions of the Social Security 
Administration in connection with the withholding of taxes from 
benefits, as described in section 407(c) of this title, pursuant to 
requests by persons entitled to such benefits or such persons' 
representative payee,'' for ``subparagraph (A)),''.
    Subsec. (g)(1)(C)(iii). Pub. L. 105-277, Sec. 4005(b)(4), inserted 
before period at end ``and the functions of the Social Security 
Administration in connection with the withholding of taxes from 
benefits, as described in section 407(c) of this title, pursuant to 
requests by persons entitled to such benefits or such persons' 
representative payee''.
    Subsec. (g)(1)(D). Pub. L. 105-277, Sec. 4005(b)(5), inserted ``and 
the functions of the Social Security Administration in connection with 
the withholding of taxes from benefits as described in section 407(c) of 
this title'' after ``section 432 of this title''.
    Subsec. (g)(4). Pub. L. 105-277, Sec. 4005(b)(6), inserted after 
first sentence ``The Board of Trustees of such Trust Funds shall 
prescribe the method of determining the costs which should be borne by 
the general fund in the Treasury of carrying out the functions of the 
Social Security Administration in connection with the withholding of 
taxes from benefits, as described in section 407(c) of this title, 
pursuant to requests by persons entitled to such benefits or such 
persons' representative payee.''
    1996--Subsec. (g)(1)(A). Pub. L. 104-121 inserted at end ``Of the 
amounts authorized to be made available out of the Federal Old-Age and 
Survivors Insurance Trust Fund and the Federal Disability Insurance 
Trust Fund under the preceding sentence, there are hereby authorized to 
be made available from either or both of such Trust Funds for continuing 
disability reviews--
        ``(i) for fiscal year 1996, $260,000,000;
        ``(ii) for fiscal year 1997, $360,000,000;
        ``(iii) for fiscal year 1998, $570,000,000;
        ``(iv) for fiscal year 1999, $720,000,000;
        ``(v) for fiscal year 2000, $720,000,000;
        ``(vi) for fiscal year 2001, $720,000,000; and
        ``(viii) for fiscal year 2002, $720,000,000.
For purposes of this subparagraph, the term `continuing disability 
review' means a review conducted pursuant to section 421(i) of this 
title and a review or disability eligibility redetermination conducted 
to determine the continuing disability and eligibility of a recipient of 
benefits under the supplemental security income program under subchapter 
XVI of this chapter, including any review or redetermination conducted 
pursuant to section 207 or 208 of the Social Security Independence and 
Program Improvements Act of 1994 (Public Law 103-296).''
    1994--Subsec. (a). Pub. L. 103-296, Sec. 321(a)(1), in closing 
provisions substituted ``and'' for ``and and'' before ``such Trust Fund 
shall pay''.
    Subsec. (a)(3). Pub. L. 103-296, Sec. 107(b)(1), (2), substituted 
``Commissioner of Social Security'' and ``such Commissioner'' for 
``Secretary of Health and Human Services'' and ``such Secretary'', 
respectively.
    Subsec. (a)(4). Pub. L. 103-296, Sec. 107(b)(1), substituted 
``Commissioner of Social Security'' for ``Secretary of Health and Human 
Services'' in two places.
    Subsec. (b)(1). Pub. L. 103-296, Sec. 107(b)(1), (2), substituted 
``Commissioner of Social Security'' and ``such Commissioner'' for 
``Secretary of Health and Human Services'' and ``such Secretary'', 
respectively.
    Subsec. (b)(1)(O) to (R). Pub. L. 103-387, Sec. 3(a), substituted 
``(O) 1.20 per centum of the wages (as so defined) paid after December 
31, 1989, and before January 1, 1994, and so reported, (P) 1.88 per 
centum of the wages (as so defined) paid after December 31, 1993, and 
before January 1, 1997, and so reported, (Q) 1.70 per centum of the 
wages (as so defined) paid after December 31, 1996, and before January 
1, 2000, and so reported, and (R) 1.80 per centum of the wages (as so 
defined) paid after December 31, 1999, and so reported,'' for ``(O) 1.20 
per centum of the wages (as so defined) paid after December 31, 1989, 
and before January 1, 2000, and so reported, and (P) 1.42 per centum of 
the wages (as so defined) paid after December 31, 1999, and so 
reported,''.
    Subsec. (b)(2). Pub. L. 103-296, Sec. 107(b)(1), substituted 
``Commissioner of Social Security'' for ``Secretary of Health and Human 
Services'' in two places.
    Subsec. (b)(2)(O) to (R). Pub. L. 103-387, Sec. 3(b), substituted 
``(O) 1.20 per centum of the amount of self-employment income (as so 
defined) so reported for any taxable year beginning after December 31, 
1989, and before January 1, 1994, (P) 1.88 per centum of the amount of 
self-employment income (as so defined) so reported for any taxable year 
beginning after December 31, 1993, and before January 1, 1997, (Q) 1.70 
per centum of the amount of self-employment income (as so defined) so 
reported for any taxable year beginning after December 31, 1996, and 
before January 1, 2000, and (R) 1.80 per centum of the amount of self-
employment income (as so defined) so reported for any taxable year 
beginning after December 31, 1999,'' for ``(O) 1.20 per centum of the 
amount of self-employment income (as so defined) so reported for any 
taxable year beginning after December 31, 1989, and before January 1, 
2000, and (P) 1.42 per centum of the self-employment income (as so 
defined) so reported for any taxable year beginning after December 31, 
1999,''.
    Subsec. (c). Pub. L. 103-296, Sec. 107(b)(3), in introductory 
provisions, inserted ``the Commissioner of Social Security,'' after 
``shall be composed of'' and inserted ``Deputy'' before ``Commissioner 
of Social Security shall serve''.
    Subsec. (d). Pub. L. 103-296, Sec. 301(a), inserted after fifth 
sentence ``Each obligation issued for purchase by the Trust Funds under 
this subsection shall be evidenced by a paper instrument in the form of 
a bond, note, or certificate of indebtedness issued by the Secretary of 
the Treasury setting forth the principal amount, date of maturity, and 
interest rate of the obligation, and stating on its face that the 
obligation shall be incontestable in the hands of the Trust Fund to 
which it is issued, that the obligation is supported by the full faith 
and credit of the United States, and that the United States is pledged 
to the payment of the obligation with respect to both principal and 
interest.''
    Subsec. (f). Pub. L. 103-296, Sec. 301(b), inserted at end ``Payment 
from the general fund of the Treasury to either of the Trust Funds of 
any such interest or proceeds shall be in the form of paper checks drawn 
on such general fund to the order of such Trust Fund.''
    Subsec. (g)(1)(A). Pub. L. 103-296, Sec. 107(b)(4)(C), in text as 
amended by Pub. L. 103-296, Sec. 321(c)(1)(A)(i)(III), substituted 
``subchapters II and XVIII'' for ``subchapters II, XVI, and XVIII'' in 
second sentence and amended last sentence generally. Prior to amendment, 
last sentence read as follows: ``There are hereby authorized to be made 
available for expenditure, out of any or all of the Trust Funds, such 
amounts as the Congress may deem appropriate to pay the costs of the 
part of the administration of this subchapter, subchapter XVI, and 
subchapter XVIII of this chapter for which the Secretary of Health and 
Human Services is responsible and of carrying out the functions of the 
Department of Health and Human Services, specified in section 432 of 
this title, which relate to the administration of provisions of the 
Internal Revenue Code of 1986 other than those referred to in clause (i) 
of the first sentence of this subparagraph.''
    Pub. L. 103-296, Sec. 321(c)(1)(A)(i)(III), substituted ``chapters 2 
and 21 of the Internal Revenue Code of 1986'' for ``subchapter E of 
chapter 1 and subchapter A of chapter 9 of the Internal Revenue Code of 
1939, and chapters 2 and 21 of the Internal Revenue Code of 1954'' in 
second sentence and ``1986 other'' for ``1954 other'' in last sentence.
    Subsec. (g)(1)(A)(i). Pub. L. 103-296, Sec. 321(c)(1)(A)(i)(I), 
substituted ``and chapters 2 and 21 of the Internal Revenue Code of 
1986'' for ``and subchapter E of chapter 1 and subchapter A of chapter 9 
of the Internal Revenue Code of 1939, and chapters 2 and 21 of the 
Internal Revenue Code of 1954''.
    Pub. L. 103-296, Sec. 107(b)(4)(A), substituted ``by the Managing 
Trustee, the Commissioner of Social Security, and the Secretary of 
Health and Human Services'' for ``by him and the Secretary of Health and 
Human Services'' and ``by the Department of Health and Human Services 
for the administration of subchapter XVIII of this chapter, and by the 
Department of the Treasury for the administration of subchapters II and 
XVIII of this chapter'' for ``by the Department of Health and Human 
Services and the Treasury Department for the administration of 
subchapters II, XVI, and XVIII of this chapter''.
    Subsec. (g)(1)(A)(ii). Pub. L. 103-296, Sec. 321(c)(1)(A)(i)(II), 
substituted ``Internal Revenue Code of 1986'' for ``Internal Revenue 
Code of 1954''.
    Pub. L. 103-296, Sec. 107(b)(4)(B), substituted ``applicable method 
prescribed under paragraph (4)'' for ``method prescribed by the Board of 
Trustees under paragraph (4)'', ``Commissioner of Social Security'' for 
``Secretary of Health and Human Services'', and ``Social Security 
Administration'' for ``Department of Health and Human Services''.
    Subsec. (g)(1)(B). Pub. L. 103-296, Sec. 107(b)(4)(A), added subpar. 
(B) and struck out former subpar. (B), as amended by Pub. L. 103-296, 
Sec. 321(c)(1)(A)(i)(IV), which read as follows: ``After the close of 
each fiscal year the Secretary of Health and Human Services shall 
determine the portion of the costs, incurred during such fiscal year, of 
administration of this subchapter, subchapter XVI, and subchapter XVIII 
of this chapter and of carrying out the functions of the Department of 
Health and Human Services, specified in section 432 of this title, which 
relate to the administration of provisions of the Internal Revenue Code 
of 1986 (other than those referred to in clause (i) of the first 
sentence of subparagraph (A)), which should have been borne by the 
general fund in the Treasury and the portion of such costs which should 
have been borne by each of the Trust Funds; except that the 
determination of the amounts to be borne by the general fund in the 
Treasury with respect to expenditures incurred in carrying out such 
functions specified in section 432 of this title shall be made pursuant 
to the method prescribed by the Board of Trustees under paragraph (4) of 
this subsection. After such determination has been made, the Secretary 
of Health and Human Services shall certify to the Managing Trustee the 
amounts, if any, which should be transferred from one to any of the 
other of such Trust Funds and the amounts, if any, which should be 
transferred between the Trust Funds (or one of the Trust Funds) and the 
general fund in the Treasury, in order to insure that each of the Trust 
Funds and the general fund in the Treasury have borne their proper share 
of the costs, incurred during such fiscal year, for the part of the 
administration of this subchapter, subchapter XVI, and subchapter XVIII 
of this chapter for which the Secretary of Health and Human Services is 
responsible and of carrying out the functions of the Department of 
Health and Human Services, specified in section 432 of this title, which 
relate to the administration of provisions of the Internal Revenue Code 
of 1986 (other than those referred to in clause (i) of the first 
sentence of subparagraph (A)). The Managing Trustee is authorized and 
directed to transfer any such amounts in accordance with any 
certification so made.''
    Pub. L. 103-296, Sec. 321(c)(1)(A)(i)(IV), substituted ``Internal 
Revenue Code of 1986'' for ``Internal Revenue Code of 1954'' in two 
places.
    Subsec. (g)(1)(C), (D). Pub. L. 103-296, Sec. 107(b)(4)(A), added 
subpars. (C) and (D).
    Subsec. (g)(2). Pub. L. 103-296, Sec. 321(c)(1)(B)(i), in first 
sentence substituted ``section 3101(a) of the Internal Revenue Code of 
1986 which are subject to refund under section 6413(c) of such Code with 
respect to wages (as defined in section 3121 of such Code).'' for 
``section 3101(a) which are subject to refund under section 6413(c) of 
the Internal Revenue Code of 1954 with respect to wages (as defined in 
section 1426 of the Internal Revenue Code of 1939 and section 3121 of 
the Internal Revenue Code of 1954) paid after December 31, 1950.'' and 
in second sentence substituted ``wages reported to the Secretary of the 
Treasury or his delegate pursuant to subtitle F of such Code,'' for 
``wages reported to the Commissioner of Internal Revenue pursuant to 
section 1420(c) of the Internal Revenue Code of 1939 and to the 
Secretary of the Treasury or his delegate pursuant to subtitle F of the 
Internal Revenue Code of 1954,''.
    Pub. L. 103-296, Sec. 107(b)(5), in second sentence substituted 
``maintained by the Commissioner of Social Security'' for ``established 
and maintained by the Secretary of Health and Human Services'' and 
``Commissioner of Social Security shall furnish'' for ``Secretary shall 
furnish''.
    Subsec. (g)(4). Pub. L. 103-296, Sec. 107(b)(6), amended generally 
par. (4) as amended by Pub. L. 103-296, Sec. 321(c)(1)(C). Prior to 
amendment, par. (4) read as follows: ``If at any time or times the 
Boards of Trustees of such Trust Funds deem such action advisable, they 
may modify the method prescribed by such Boards of determining the costs 
which should be borne by the general fund in the Treasury of carrying 
out the functions of the Department of Health and Human Services, 
specified in section 432 of this title, which relate to the 
administration of provisions of the Internal Revenue Code of 1986 (other 
than those referred to in clause (i) of the first sentence of paragraph 
(1)(A)).''
    Pub. L. 103-296, Sec. 321(c)(1)(C), substituted ``If at any time or 
times the Boards of Trustees of such Trust Funds deem such action 
advisable, they may modify the method prescribed by such Boards'' for 
``The Board of Trustees shall prescribe before January 1, 1981, the 
method'' and ``Code of 1986'' for ``Code of 1954'' and struck out at end 
``If at any time or times thereafter the Boards of Trustees of such 
Trust Funds deem such action advisable they may modify the method so 
determined.''
    Subsec. (i)(1). Pub. L. 103-296, Sec. 107(b)(7), amended par. (1) 
generally. Prior to amendment, par. (1) read as follows: ``The Managing 
Trustee of the Federal Old-Age and Survivors Insurance Trust Fund, the 
Federal Disability Insurance Trust Fund, the Federal Hospital Insurance 
Trust Fund, and the Federal Supplementary Medical Insurance Trust Fund 
is authorized to accept on behalf of the United States money gifts and 
bequests made unconditionally to any one or more of such Trust Funds or 
to the Department of Health and Human Services, or any part or officer 
thereof, for the benefit of any of such Funds or any activity financed 
through such Funds.''
    Subsec. (j). Pub. L. 103-296, Sec. 107(b)(8), substituted 
``Commissioner of Social Security'' for ``Secretary'' wherever 
appearing.
    Subsec. (k). Pub. L. 103-296, Sec. 107(b)(8), substituted 
``Commissioner of Social Security'' for ``Secretary''.
    Subsec. (l)(3)(B)(iii)(II). Pub. L. 103-296, Sec. 107(b)(9), 
substituted ``Commissioner of Social Security'' for ``Secretary''.
    Subsec. (m)(3). Pub. L. 103-296, Sec. 107(b)(10), substituted 
``Commissioner of Social Security'' for ``Secretary of Health and Human 
Services''.
    1990--Subsec. (a). Pub. L. 101-508, Sec. 5115(a), in first sentence 
following cl. (4), substituted ``from time to time'' for ``monthly on 
the first day of each calendar month'' in two places and ``paid to or 
deposited into the Treasury'' for ``to be paid to or deposited into the 
Treasury during such month'', and in last sentence substituted ``Fund. 
Notwithstanding the preceding sentence, in any case in which the 
Secretary of the Treasury determines that the assets of either such 
Trust Fund would otherwise be inadequate to meet such Fund's obligations 
for any month, the Secretary of the Treasury shall transfer to such 
Trust Fund on the first day of such month the amount which would have 
been transferred to such Fund under this section as in effect on October 
1, 1990; and'' for ``Fund;''.
    Subsec. (c). Pub. L. 101-508, Sec. 13304, inserted after first 
sentence following cl. (5) ``Such statement shall include a finding by 
the Board of Trustees as to whether the Federal Old-Age and Survivors 
Insurance Trust Fund and the Federal Disability Insurance Trust Fund, 
individually and collectively, are in close actuarial balance (as 
defined by the Board of Trustees).''
    Subsec. (j). Pub. L. 101-508, Sec. 5106(c), inserted at end ``The 
amount available for payment under this subsection for travel by a 
representative to attend an administrative proceeding before an 
administrative law judge or other adjudicator shall not exceed the 
maximum amount allowable under this subsection for such travel 
originating within the geographic area of the office having jurisdiction 
over such proceeding.''
    1989--Subsecs. (g)(1)(A), (i)(1). Pub. L. 101-234 repealed Pub. L. 
100-360, Sec. 212(c)(1), and provided that the provisions of law amended 
or repealed by such section are restored or revised as if such section 
had not been enacted, see 1988 Amendment note below.
    1988--Subsec. (c). Pub. L. 100-647 inserted after first sentence ``A 
member of the Board of Trustees serving as a member of the public and 
nominated and confirmed to fill a vacancy occurring during a term shall 
be nominated and confirmed only for the remainder of such term. An 
individual nominated and confirmed as a member of the public may serve 
in such position after the expiration of such member's term until the 
earlier of the time at which the member's successor takes office or the 
time at which a report of the Board is first issued under paragraph (2) 
after the expiration of the member's term.''
    Subsec. (g)(1)(A). Pub. L. 100-360, Sec. 212(c)(1)(A), substituted 
``, Federal Supplementary Medical Insurance Trust Fund, and the Federal 
Catastrophic Drug Insurance Trust Fund'' for ``and the Federal 
Supplementary Medical Insurance Trust Fund''.
    Subsec. (i)(1). Pub. L. 100-360, Sec. 212(c)(1)(B), substituted ``, 
Federal Hospital Insurance Catastrophic Coverage Reserve Fund, Federal 
Supplementary Medical Insurance Trust Fund, and the Federal Catastrophic 
Drug Insurance Trust Fund'' for ``and the Federal Supplementary Medical 
Insurance Trust Fund''.
    1986--Subsec. (c). Pub. L. 99-272, in provisions following par. (5), 
substituted ``. Such report shall'' for ``: Provided, That the 
certification shall not refer to economic assumptions underlying the 
Trustee's report, and shall''.
    1984--Subsecs. (a)(3), (4), (b)(1), (2). Pub. L. 98-369, 
Sec. 2663(j)(2)(A)(i), substituted ``Health and Human Services'' for 
``Health, Education, and Welfare''.
    Subsec. (d). Pub. L. 98-369, Sec. 2663(a)(1)(A), substituted 
``chapter 31 of title 31'' for ``the Second Liberty Bond Act, as 
amended'' and ``public-debt obligations'' for ``public-debt 
obligation''.
    Subsec. (g)(1). Pub. L. 98-369, Sec. 2663(j)(2)(A)(i), substituted 
``Health and Human Services'' for ``Health, Education, and Welfare''.
    Subsec. (g)(1)(B). Pub. L. 98-369, Sec. 2663(a)(1)(B), substituted 
``clause'' for ``clauses'' in first sentence.
    Subsecs. (g)(2), (4), (i)(1). Pub. L. 98-369, Sec. 2663(j)(2)(A)(i), 
substituted ``Health and Human Services'' for ``Health, Education, and 
Welfare''.
    Subsec. (l)(3)(B)(i). Pub. L. 98-369, Sec. 2661(a), inserted 
``Insurance'' after ``Survivors''.
    1983--Subsec. (a). Pub. L. 98-21, Sec. 141(a), in provisions 
following par. (4), substituted ``monthly on the first day of each 
calendar month'' for ``from time to time'', wherever appearing, and ``to 
be paid or deposited into the Treasury during such month'' for ``paid to 
or deposited into the Treasury'', and inserted provision that all 
amounts transferred to either Trust Fund under the preceding sentence 
shall be invested by the Managing Trustee in the same manner and to the 
same extent as the other assets of such Trust Fund; and such Trust Fund 
shall pay interest to the general fund on the amount so transferred on 
the first day of any month at a rate (calculated on a daily basis, and 
applied against the difference between the amount so transferred on such 
first day and the amount which would have been transferred to the Trust 
Fund up to that day under the procedures in effect on Jan. 1, 1983) 
equal to the rate earned by the investments of such Fund in the same 
month under subsection (d) of this section.
    Subsec. (b)(1)(K) to (P). Pub. L. 98-21, Sec. 126(a), substituted, 
in cls. (K), (L), and (M), appropriations equivalent to 100 per centum 
of (K) 1.65 per centum of the wages (as so defined) paid after Dec. 31, 
1981, and before Jan. 1, 1983, and so reported, (L) 1.25 per centum of 
the wages (as so defined) paid after Dec. 31, 1982, and before Jan. 1, 
1984, and so reported, (M) 1.00 per centum of the wages (as so defined) 
paid after Dec. 31, 1983, and before Jan. 1, 1988, and so reported, for 
such appropriations of (K) 1.65 per centum of the wages (as so defined) 
paid after Dec. 31, 1981, and before Jan. 1, 1985, and so reported, (L) 
1.90 per centum of the wages (as so defined) paid Dec. 31, 1984, and 
before Jan. 1, 1990, and so reported, and (M) 2.20 per centum of the 
wages (as so defined) paid after Dec. 31, 1989, and so reported, and 
added cls. (N) to (P).
    Subsec. (b)(2)(K) to (P). Pub. L. 98-21, Sec. 126(b), substituted, 
in cls. (K), (L), and (M), appropriations equivalent to 100 per centum 
of (K) 1.2375 per centum of the amount of self-employment income (as so 
defined) so reported for any taxable year beginning after Dec. 31, 1981, 
and before Jan. 1, 1983, (L) 0.9375 per centum of the amount of self-
employment income (as so defined) so reported for any taxable year 
beginning after Dec. 31, 1982, and before Jan. 1, 1984, (M) 1.00 per 
centum of the amount of self-employment income (as so defined) so 
reported for any taxable year beginning after Dec. 31, 1983, and before 
Jan. 1, 1988, for such appropriations of (K) 1.2375 per centum of the 
amount of self-employment income (as so defined) so reported for any 
taxable year beginning after Dec. 31, 1981, and before Jan. 1, 1985, (L) 
1.4250 per centum of the amount of self-employment income (as so 
defined) so reported for any taxable year beginning after Dec. 31, 1984, 
and before Jan. 1, 1990, and (M) 1.6500 per centum of the amount of 
self-employment income (as so defined) so reported for any taxable year 
beginning after Dec. 31, 1989, and added cls. (N) to (P).
    Subsec. (c). Pub. L. 98-21, Sec. 341(a), substituted ``Secretary of 
Health and Human Services, all ex officio, and of two members of the 
public (both of whom may not be from the same political party), who 
shall be nominated by the President for a term of four years and subject 
to confirmation by the Senate'' for ``Secretary of Health, Education, 
and Welfare, all ex officio'' in provisions preceding par. (1), and 
inserted provision that a person serving on the Board of Trustees shall 
not be considered to be a fiduciary and shall not be personally liable 
for actions taken in such capacity with respect to the Trust Funds, in 
provisions following par. (5).
    Pub. L. 98-21, Sec. 154(a), in provisions following par. (5), 
inserted provision that the report referred to in par. (2) shall include 
an actuarial opinion by the Chief Actuary of the Social Security 
Administration certifying that the techniques and methodologies used are 
generally accepted within the actuarial profession and that the 
assumptions and cost estimates used are reasonable, and provided further 
that the certification shall not refer to economic assumptions 
underlying the Trustee's report.
    Subsec. (l)(1). Pub. L. 98-21, Sec. 142(a)(1), substituted reference 
to January 1988 for reference to January 1983, and inserted ``, subject 
to paragraph (5),'' after ``such Trust Fund, or''.
    Subsec. (l)(2). Pub. L. 98-21, Sec. 142(a)(2)(A), substituted ``on 
the last day of each month after such loan is made'' for ``from time to 
time'', substituted ``the total interest accrued to such day'' for 
``interest'', and inserted ``(even if such an investment would earn 
interest at a rate different than the rate earned by investments 
redeemed by the lending fund in order to make the loan)''.
    Subsec. (l)(3). Pub. L. 98-21, Sec. 142(a)(3), designated existing 
provisions as subpar. (A) and added subpars. (B) and (C).
    Subsec. (l)(5). Pub. L. 98-21, Sec. 142(a)(4), added par. (5).
    Subsec. (m). Pub. L. 98-21, Sec. 152(a), added subsec. (m).
    1981--Subsec. (l). Pub. L. 97-123 added subsec. (l).
    1980--Subsec. (b)(1)(H) to (M). Pub. L. 96-403, Sec. 1(a), 
substituted in cl. (H) reference to Jan. 1, 1980, for Jan. 1, 1981; 
added cls. (I) and (J); redesignated as cl. (K) former cl. (I) 
substituting reference to Dec. 31, 1981, for Dec. 31, 1980; and 
redesignated as cls. (L) and (M) former cls. (J) and (K).
    Subsec. (b)(2)(H) to (M). Pub. L. 96-403, Sec. 1(b), substituted in 
cl. (H) reference to Jan. 1, 1980, for Jan. 1, 1981; added cls. (I) and 
(J); redesignated as cl. (K) former cl. (I) substituting reference to 
Dec. 31, 1981, for Dec. 31, 1980; and redesignated as cls. (L) and (M) 
former cls. (J) and (K).
    Subsec. (j). Pub. L. 96-265, Sec. 310(a), added subsec. (j).
    Subsec. (k). Pub. L. 96-265, Sec. 505(a)(5), added subsec. (k).
    1977--Subsec. (b)(1)(G) to (K). Pub. L. 95-216, Sec. 102(a)(1), 
substituted ``(G) 1.55 per centum of the wages (as so defined) paid 
after December 31, 1977, and before January 1, 1979, and so reported, 
(H) 1.50 per centum of the wages (as so defined) paid after December 31, 
1978, and before January 1, 1981, and so reported, (I) 1.65 per centum 
of the wages (as so defined) paid after December 31, 1980, and before 
January 1, 1985, and so reported, (J) 1.90 per centum of the wages (as 
so defined) paid after December 31, 1984, and before January 1, 1990, 
and so reported, and (K) 2.20 per centum of the wages (as so defined) 
paid after December 31, 1989, and so reported'' for ``(G) 1.2 per centum 
of the wages (as so defined) paid after December 31, 1977, and before 
January 1, 1981, and so reported, (H) 1.3 per centum of the wages (as so 
defined) paid after December 31, 1980, and before January 1, 1986, and 
so reported, (I) 1.4 per centum of the wages (as so defined) paid after 
December 31, 1985, and before January 1, 2011, and so reported, and (J) 
1.7 per centum of the wages (as so defined) paid after December 31, 
2010, and so reported''.
    Subsec. (b)(2)(G) to (K). Pub. L. 95-216, Sec. 102(a)(2), 
substituted ``(G) 1.090 per centum of the amount of self-employment 
income (as so defined) so reported for any taxable year beginning after 
December 31, 1977, and before January 1, 1979, (H) 1.0400 per centum of 
the amount of self-employment income (as so defined) so reported for any 
taxable year beginning after December 31, 1978, and before January 1, 
1981, (I) 1.2375 per centum of the amount of self-employment income (as 
so defined) so reported for any taxable year beginning after December 
31, 1980, and before January 1, 1985, (J) 1.4250 per centum of the 
amount of self-employment income (as so defined) so reported for any 
taxable year beginning after December 31, 1984, and before January 1, 
1990, and (K) 1.650 per centum of the amount of self-employment income 
(as so defined) so reported for any taxable year beginning after 
December 31, 1989'' for ``(G) 0.850 of 1 per centum of the amount of 
self-employment income (as so defined) so reported for any taxable year 
beginning after December 31, 1977, and before January 1, 1981, (H) 0.920 
of 1 per centum of the amount of self-employment income (as so defined) 
so reported for any taxable year beginning after December 31, 1980, and 
before January 1, 1986, (I) 0.990 of 1 per centum of the amount of self-
employment income (as so defined) so reported for any taxable year 
beginning after December 31, 1985, and before January 1, 2011, and (J) 1 
per centum of the amount of self-employment income (as so defined) so 
reported for any taxable year beginning after December 31, 2010''.
    1976--Subsec. (g)(1). Pub. L. 94-202, Sec. 8(d)(1), incorporated 
changes in the operations and responsibilities of the Managing Trustee 
of the Trust Funds and the Secretary of Health, Education, and Welfare 
occasioned by changes in the annual method of reporting wages for social 
security purposes, by directing that estimated amounts paid from the 
Trust Funds into the Treasury, to replace amounts expended from the 
general fund in the Treasury, be estimated by both the Managing Trustee 
and the Secretary and that the Secretary determine the portion of costs 
attributable to the general fund in the Treasury and the portion 
attributable to the Trust Funds at the close of the fiscal year, by 
striking out reference to section 1381 of this title, and by inserting 
reference to par. (4) of this section, section 432 of this title, and 
subchapter E of chapter 1 and subchapter A of chapter 9 of the Internal 
Revenue Code of 1939.
    Subsec. (g)(4). Pub. L. 94-202, Sec. 8(d)(2), added par. (4).
    1973--Subsec. (b)(1)(E) to (J). Pub. L. 93-233, Sec. 7(a), 
substituted in: cl. (E) ``January 1, 1974'' for ``January 1, 1978''; cl. 
(F) ``December 31, 1973'' and ``January 1, 1978'' for ``December 31, 
1977'' and January 1, 2011''; cl. (G) ``1.2'' for ``1.5'' per centum and 
``paid after December 31, 1977, and before January 1, 1981'' for ``paid 
after December 31, 2010,'' and added cls. (H) to (J).
    Subsec. (b)(2)(E) to (J). Pub. L. 93-233, Sec. 7(b), substituted in: 
cl. (E) ``January 1, 1974'' for January 1, 1978''; cl. (F) ``0.815 of 1 
per centum'' for ``0.84 per centum'' and ``as reported for any taxable 
year beginning after December 31, 1973, and before January 1, 1978'' for 
``so reported for any taxable year beginning after December 31, 1977, 
and before January 1, 2011''; cl. (G) ``0.850 of 1 percentum'' for 
``0.895 per centum'' and ``taxable year beginning after December 31, 
1977, and before January 1, 1981'' for ``taxable year beginning after 
December 31, 2010''; and added cls. (H) to (J).
    1972--Subsec. (a). Pub. L. 92-603, Sec. 132(a), inserted ``such 
gifts and bequests as may be made as provided in subsection (i)(1) of 
this section, and'' after ``in addition,'' in provisions preceding par. 
(1).
    Subsec. (b). Pub. L. 92-603, Sec. 132(b), inserted ``such gifts and 
bequests as may be made as provided in subsection (i)(1) of this 
section, and'' after ``consist of'' in provisions preceding par. (1).
    Subsec. (b)(1). Pub. L. 92-603, Sec. 136(a), substituted ``1.1'' for 
``1.0'' in cl. (E), ``1.15'' for ``1.1'' in cl. (F), and ``1.5'' for 
``1.4'' in cl. (G).
    Pub. L. 92-336, Sec. 205(a), struck out ``and'' before ``(D)'', 
inserted reference to wages paid before January 1, 1973, in cl. (D), and 
added cls. (E), (F), and (G).
    Subsec. (b)(2). Pub. L. 92-603, Sec. 136(b), substituted ``0.795'' 
for ``0.75'' in cl. (E), ``0.84'' for ``0.825'' in cl. (F), and 
``0.895'' for ``0.915'' in cl. (G).
    Pub. L. 92-336, Sec. 205(b), struck out ``and'' before ``(D)'', 
inserted reference to self-employment income before January 1, 1973, in 
cl. (D), and added cls. (E), (F), and (G).
    Subsec. (g)(1)(A). Pub. L. 92-603, Sec. 305(a), inserted references 
to subchapter XVI of this chapter and provisions relating to the general 
revenues of the United States with respect to subchapter XVI of this 
chapter and to the appropriations made pursuant to section 1381 of this 
title.
    Subsec. (i). Pub. L. 92-603, Sec. 132(c), added subsec. (i).
    1969--Subsec. (b)(1). Pub. L. 91-172, Sec. 1005(a), inserted 
reference to wages paid before Jan. 1, 1969, and inserted provision for 
the appropriation of amounts equal to 1.10 per centum of wages paid 
after Dec. 31, 1969.
    Subsec. (b)(2). Pub. L. 91-172, Sec. 1005(b), inserted reference to 
self-employment income before Jan. 1, 1970, and inserted provision for 
the appropriation of 0.825 of 1 percent of the amount of self-employment 
income for taxable years beginning after Dec. 31, 1969.
    1968--Subsec. (b)(1). Pub. L. 90-248, Sec. 110(a), designated 
existing provisions as cls. (A) and (B), inserted ``and before January 
1, 1968,'' after ``1965,'' in cl. (B), and added cl. (C).
    Subsec. (b)(2). Pub. L. 90-248, Sec. 110(b), designated existing 
provisions as cls. (A) and (B), inserted ``and before January 1, 1968, 
and'' after ``1965,'' in cl. (B), and added cl. (C).
    Subsec. (c)(2). Pub. L. 90-248, Sec. 169(a), substituted ``April'' 
for ``March''.
    Subsec. (c). Pub. L. 90-248, Sec. 169(b), inserted penultimate 
sentence for inclusion in reports of board of trustees to Congress of an 
actuarial analysis of the benefit disbursements made from the Federal 
Old-Age and Survivors Insurance Trust Fund with respect to disabled 
beneficiaries.
    1965--Subsec. (a)(3). Pub. L. 89-97, Sec. 108(a)(1), inserted 
``(other than sections 3101(b) and 3111(b))'' after ``chapter 21'' in 
two places.
    Subsec. (a)(4). Pub. L. 89-97, Sec. 108(a)(2), inserted ``(other 
than section 1401(b))'' after ``chapter 2'' and ``such subchapter or 
chapter''.
    Subsec. (b)(1). Pub. L. 89-97, Sec. 305(a), inserted ``and before 
January 1, 1966,'' after ``December 31, 1956,'' and ``and 0.70 of 1 per 
centum of the wages (as so defined) paid after December 31, 1965, and so 
reported,'' after ``1954,''.
    Subsec. (b)(2). Pub. L. 89-97, Sec. 305(b), inserted ``and before 
January 1, 1966, and 0.525 of 1 per centum of the amount of self-
employment income (as so defined) so reported for any taxable year 
beginning after December 31, 1965,'' after ``December 31, 1956,''.
    Subsec. (c). Pub. L. 89-97, Sec. 327, extended from once each six 
months to once each calendar year the minimum number of times the Board 
of Trustees must meet.
    Subsec. (g)(1). Pub. L. 89-97, Sec. 108(a)(3), included the Federal 
Hospital Insurance Trust Fund and the Federal Supplementary Medical 
Insurance Trust Fund among the Trust Funds available for reimbursement 
of the Treasury for administrative costs of this subchapter and 
subchapter XVIII of this chapter, deleted references to administrative 
costs of subchapter VIII of this chapter and subchapter E of chapter 1 
and subchapter 9 of the Internal Revenue Code of 1939, and also provided 
for adjustment among the Trust Funds during each fiscal year so that the 
Funds bear the proportionate share of the administration costs.
    Subsec. (g)(2). Pub. L. 89-97, Sec. 108(a)(4), inserted ``imposed 
under section 3101(a)'' after ``the amount estimated by him as taxes''.
    Subsec. (h). Pub. L. 89-97, Sec. 108(a)(5), inserted ``(other than 
section 426 of this title)'' after ``this subchapter''.
    1960--Subsec. (c). Pub. L. 86-778, Sec. 701(a)-(c), required the 
Board of Trustees to meet not less frequently than once each six months, 
struck out provisions from cl. (3) which required the Board to report 
immediately to the Congress whenever the Board is of the opinion that 
during the ensuing five fiscal years either of the Trust Funds will 
exceed three times the highest annual expenditures from such Trust Fund 
anticipated during that five-fiscal-year period, and added cl. (5).
    Subsec. (d). Pub. L. 86-778, Sec. 701(d), substituted ``shall bear 
interest at a rate equal to the average market yield (computed by the 
Managing Trustee on the basis of market quotations as of the end of the 
calendar month next preceding the date of such issue) on all marketable 
interest-bearing obligations of the United States then forming a part of 
the public debt which are not due or callable until after the expiration 
of four years from the end of such calendar month'' for ``bear interest 
at a rate equal to the average rate of interest, computed as to the end 
of the calendar month next preceding the date of such issue, borne by 
all marketable interest-bearing obligations of the United States then 
forming a part of the Public Debt that are not due or callable until 
after the expiration of five years from the date of original issue'', 
and substituted provisions authorizing the purchase of other interest-
bearing obligations when the Managing Trustee determines that it is in 
the public interest for provisions which authorized the issuance of 
obligations by the Trust Funds only if the Managing Trustee determined 
that the purchase of other obligations was not in the public interest.
    Subsec. (e). Pub. L. 86-778, Sec. 701(e), substituted ``public-debt 
obligations'' for ``special obligations'' in two places.
    1959--Subsec. (d). Pub. L. 86-346 substituted ``on original issue at 
the issue price'' for ``on original issue at par''.
    1958--Subsec. (h). Pub. L. 85-840 provided that benefit payments 
required to be made under subsection (b), (c), or (d) of section 402 of 
this title to individuals entitled to benefits on the basis of the wages 
and self-employment income of an individual entitled to disability 
insurance benefits be made only from the Federal Disability Insurance 
Trust Fund.
    1956--Act Aug. 1, 1956, amended section generally, inserting 
references to taxes imposed by the Internal Revenue Code of 1954, 
substituting ``Secretary of Health, Education, and Welfare'' for 
``Federal Security Administrator,'' creating the Federal Disability 
Insurance Trust Fund, requiring obligations issued for purchase by the 
Trust Funds to have maturities fixed with due regard for the needs of 
the Trust Funds, authorizing to be made available for expenditure out of 
the Trust Funds such amounts as Congress deems necessary to pay costs of 
administration of subchapter, and requiring the Secretary of Health, 
Education, and Welfare to analyze costs of administration so that each 
Trust Fund may be charged with its proper share.
    1950--Subsec. (a). Act Aug. 28, 1950, Sec. 109(a)(1)-(3), 
substituted ``such amounts as may be appropriated to, or deposited in, 
the Trust Fund'' for ``such amounts as may be appropriated to the Trust 
Fund'' in second sentence, simplified the accounting and collection 
processes required for determining the amounts appropriated to the trust 
fund, as set out in third sentence, and struck out fourth sentence 
authorizing appropriation of additional funds.
    Subsec. (b). Act Aug. 28, 1950, Sec. 109(a)(4)-(8), substituted 
``Federal Security Administrator'' for ``Chairman of the Social Security 
Board'', changed filing date for annual report from first day of each 
regular session of Congress to March 1 of each year, added par. (4), 
inserted sentence to require report to be printed as a House document, 
and made Commissioner of Social Security the Secretary of the Board of 
Trustees.
    Subsec. (f). Act. Aug. 28, 1950, Sec. 109(a)(9), changed reference 
in text from Title II of the Federal Insurance Contributions Act to 
subchapter A of chapter 9 and subchapter E of chapter 1 of the Internal 
Revenue Code of 1939 to avoid confusion and to include the new 
provisions of such Code relating to the collection of taxes from the 
self-employed.
    1944--Subsec. (a). Act Feb. 25, 1944, inserted sentence authorizing 
appropriation of additional funds.
    1939--Act Aug. 10, 1939, amended section generally.


                    Effective Date of 1998 Amendment

    Pub. L. 105-277, div. J, title IV, Sec. 4005(c), Oct. 21, 1998, 112 
Stat. 2681-912, provided that: ``The amendments made by subsection (b) 
[amending this section] shall apply to benefits paid on or after the 
first day of the second month beginning after the month in which this 
Act is enacted [October 1998].''


                    Effective Date of 1994 Amendments

    Section 3(c) of Pub. L. 103-387 provided that: ``The amendments made 
by this section [amending this section] shall apply with respect to 
wages paid after December 31, 1993, and self-employment income for 
taxable years beginning after such date.''
    Section 110 of title I of Pub. L. 103-296 provided that:
    ``(a) In General.--Except as otherwise provided in this title, this 
title [see Tables for classification], and the amendments made by such 
title, shall take effect March 31, 1995.
    ``(b) Transition Rules.--Section 106 [amending section 5315 of Title 
5, Government Organization and Employees, and enacting provisions set 
out as a note under section 901 of this title] shall take effect on the 
date of the enactment of this Act [Aug. 15, 1994].
    ``(c) Exceptions.--The amendments made by section 103 [amending 
section 903 of this title], subsections (b)(4) and (c) of section 105 
[enacting provisions set out in a note under section 901 of this title], 
and subsections (a)(1), (e)(1), (e)(2), (e)(3), and (l)(2) of section 
108 [enacting section 913 of this title and amending sections 5312, 
5313, and 5315 of Title 5 and section 11 of Pub. L. 95-452, Inspector 
General Act of 1978, set out in the Appendix to Title 5] shall take 
effect on the date of the enactment of this Act.''
    Section 301(c) of Pub. L. 103-296 provided that:
    ``(1) In general.--The amendments made by this section [amending 
this section] shall apply with respect to obligations issued, and 
payments made, after 60 days after the date of the enactment of this Act 
[Aug. 15, 1994].
    ``(2) Treatment of outstanding obligations.--Not later than 60 days 
after the date of the enactment of this Act, the Secretary of the 
Treasury shall issue to the Federal Old-Age and Survivors Insurance 
Trust Fund or the Federal Disability Insurance Trust Fund, as 
applicable, a paper instrument, in the form of a bond, note, or 
certificate of indebtedness, for each obligation which has been issued 
to the Trust Fund under section 201(d) of the Social Security Act 
[subsec. (d) of this section] and which is outstanding as of such date. 
Each such document shall set forth the principal amount, date of 
maturity, and interest rate of the obligation, and shall state on its 
face that the obligation shall be incontestable in the hands of the 
Trust Fund to which it was issued, that the obligation is supported by 
the full faith and credit of the United States, and that the United 
States is pledged to the payment of the obligation with respect to both 
principal and interest.''
    Section 321(c)(1)(A)(ii) of Pub. L. 103-296 provided that: ``The 
amendments made by clause (i) [amending this section] shall apply only 
with respect to periods beginning on or after the date of the enactment 
of this Act [Aug. 15, 1994].''
    Section 321(c)(1)(B)(ii) of Pub. L. 103-296 provided that: ``The 
amendments made by clause (i) [amending this section] shall apply only 
with respect to wages paid on or after January 1, 1995.''


                    Effective Date of 1990 Amendment

    Section 5106(d) of Pub. L. 101-508 provided that: ``The amendments 
made by this section [amending this section and sections 406, 1320a-6, 
1383, and 1395i of this title] shall apply with respect to 
determinations made on or after July 1, 1991, and to reimbursement for 
travel expenses incurred on or after April 1, 1991.''
    Section 5115(c)[(b)] of Pub. L. 101-508 provided that: ``The 
amendments made by this section [amending this section] shall become 
effective on the first day of the month following the month in which 
this Act is enacted [November 1991].''
    Amendment by section 13304 of Pub. L. 101-508 effective for annual 
reports of the Board of Trustees issued in or after calendar year 1991, 
see section 13306 of Pub. L. 101-508, set out as a note under section 
632 of Title 2, The Congress.


                    Effective Date of 1989 Amendment

    Section 202(b) of Pub. L. 101-234 provided that: ``The provisions of 
subsection (a) [set out below] shall take effect January 1, 1990, and 
the repeal of section 211 of MCCA [Pub. L. 100-360, which amended 
sections 1395r, 1395w, and 1395mm of this title and enacted provisions 
set out as a note under section 1395r of this title] shall apply to 
premiums for months beginning after December 31, 1989.''


                    Effective Date of 1988 Amendment

    Section 8005(b) of Pub. L. 100-647 provided that: ``The amendments 
made by this section [amending this section and sections 1395i and 1395t 
of this title] shall apply to members of the Boards of Trustees of the 
Federal Old-Age and Survivors Insurance Trust Fund and the Federal 
Disability Insurance Trust Fund, of the Federal Hospital Insurance Trust 
Fund, and of the Federal Supplementary Medical Insurance Trust Fund 
serving on such Boards of Trustees as members of the public on or after 
the date of the enactment of this Act [Nov. 10, 1988].''


                    Effective Date of 1986 Amendment

    Section 9213(c) of Pub. L. 99-272 provided that: ``The amendments 
made by this section [amending this section and sections 1395i and 1395t 
of this title] shall become effective on the date of the enactment of 
this Act [Apr. 7, 1986].''


                    Effective Date of 1984 Amendment

    Section 2664 of Pub. L. 98-369 provided that:
    ``(a) Except as otherwise specifically provided, the amendments made 
by sections 2661 and 2662 [amending this section and sections 402, 403, 
405, 409, 410, 415, 416, 423, 428, and 429 of this title and sections 
86, 134, 422A, 3121, 3306, and 6334 of Title 26, Internal Revenue Code, 
enacting provisions set out as notes under sections 402 and 403 of this 
title and sections 3121 and 3306 of Title 26, and amending provisions 
set out as notes under sections 415 and 902 of this title, section 3121 
of Title 26, and section 3023 [now 5123] of Title 38, Veterans' 
Benefits] shall be effective as though they had been included in the 
enactment of the Social Security Amendments of 1983 (Public Law 98-21).
    ``(b) Except to the extent otherwise specifically provided in this 
subtitle [subtitle D (Secs. 2661-2664) of Pub. L. 98-369], the 
amendments made by section 2663 [amending this section and sections 402, 
403, 405, 408-410, 411, 413, 415, 416-418, 421-423, 426, 428, 430, 431, 
433, 502, 503, 602, 603, 606, 607, 609, 610, 614, 615, 620, 631, 632, 
633, 634, 636, 641, 643-645, 652-654, 656, 660, 662, 674, 902, 903, 907, 
1101, 1104, 1108, 1301, 1302, 1306, 1307, 1314-1316, 1320, 1320a-5, 
1320b-1, 1381a-1382a, 1382c, 1382d, 1382g, 1382j, 1383, 1395i, 1395s-
1395u, 1396, 1397a, and 1397e of this title and sections 51, 1402, 3121, 
6057, 6103, and 6511 of Title 26, repealing sections 1331-1336 of this 
title, and enacting provisions set out as notes under sections 1301 and 
1307 of this title] shall be effective on the date of the enactment of 
this Act [July 18, 1984]; but none of such amendments shall be construed 
as changing or affecting any right, liability, status, or interpretation 
which existed (under the provisions of law involved) before that date.''


                    Effective Date of 1983 Amendment

    Section 141(c) of Pub. L. 98-21 provided that: ``The amendments made 
by this section [amending this section and section 1395i of this title] 
shall become effective on the first day of the month following the month 
in which this Act is enacted [April 1983].''
    Section 142(a)(2)(B) of Pub. L. 98-21 provided that: ``The amendment 
made by this paragraph [amending this section] shall apply with respect 
to months beginning more than thirty days after the date of enactment of 
this Act [Apr. 20, 1983].''
    Section 152(b) of Pub. L. 98-21 provided that: ``The amendment made 
by subsection (a) [amending this section] shall apply with respect to 
all checks for benefits under title II of the Social Security Act [this 
subchapter] which are issued on or after the first day of the twenty-
fourth month following the month in which this Act is enacted [April 
1983].''
    Section 154(e) of Pub. L. 98-21 provided that: ``The amendments made 
by this section [amending this section and sections 1395i and 1395t of 
this title] shall take effect on the date of the enactment of this Act 
[Apr. 20, 1983].''
    Section 341(d) of Pub. L. 98-21 provided that: ``The amendments made 
by this section [amending this section and sections 1395i and 1395t of 
this title] shall become effective on the date of enactment of this Act 
[Apr. 20, 1983].''


                    Effective Date of 1981 Amendment

    Section 1(c) of Pub. L. 97-123 provided that: ``The amendments made 
by this section [amending this section and section 1395i of this title] 
shall be effective on the date of the enactment of this Act [Dec. 29, 
1981].''


                    Effective Date of 1980 Amendment

    Section 2 of Pub. L. 96-403 provided that: ``The amendments made by 
the first section of this Act [amending this section] shall apply with 
respect to remuneration paid, and taxable years beginning after December 
31, 1979.''


                    Effective Date of 1977 Amendment

    Amendment by Pub. L. 95-216 applicable with respect to remuneration 
paid or received, and taxable years beginning after 1977, see section 
104 of Pub. L. 95-216, set out as a note under section 1401 of Title 26, 
Internal Revenue Code.


                    Effective Date of 1972 Amendment

    Section 132(f) of Pub. L. 92-603 provided that: ``The amendments 
made by this section [amending this section and sections 1395i and 1395t 
of this title] shall apply with respect to gifts and bequests received 
after the date of enactment of this Act [Oct. 30, 1972].''
    Section 305(c) of Pub. L. 92-603 provided that: ``The provisions of 
this section [amending this section and enacting provisions set out as a 
note under this section] shall become effective on the date of enactment 
of this Act [Oct. 30, 1972].''


                    Effective Date of 1960 Amendment

    Section 701(f) of Pub. L. 86-778 provided that: ``The amendments 
made by this section [amending this section] shall take effect on the 
first day of the first month beginning after the date of the enactment 
of this Act [Sept. 13, 1960].''


                    Effective Date of 1958 Amendment

    Amendment by Pub. L. 85-840 applicable with respect to monthly 
benefits under this subchapter for months after August 1958, but only if 
an application for such benefits is filed on or after Aug. 28, 1958, see 
section 207(a) of Pub. L. 85-840, set out as a note under section 416 of 
this title.


                    Effective Date of 1939 Amendment

    Section 201 of act Aug. 10, 1939, provided that the amendment made 
by that section is effective Jan. 1, 1940.


                     Construction of 1994 Amendment

    Section 321(d) of Pub. L. 103-296 provided that:
    ``(1) The preceding provisions of this section [amending this 
section and sections 402, 403, 405, 408 to 411, 413, 415, 416, 418, 423, 
429, 430, and 432 of this title, and enacting provisions set out as 
notes under this section and sections 402 and 430 of this title] shall 
be construed only as technical and clerical corrections and as 
reflecting the original intent of the provisions amended thereby.
    ``(2) Any reference in title II of the Social Security Act [this 
subchapter] to the Internal Revenue Code of 1986 [26 U.S.C. 1 et seq.] 
shall be construed to include a reference to the Internal Revenue Code 
of 1954 to the extent necessary to carry out the provisions of paragraph 
(1).''


 Study by General Accounting Office of Existing Coordination of the DI 
   and SSI Programs as They Relate to Individuals Entering or Leaving 
                         Concurrent Entitlement

    Pub. L. 106-170, title III, Sec. 303(b), Dec. 17, 1999, 113 Stat. 
1904, provided that:
    ``(1) Study.--As soon as practicable after the date of the enactment 
of this Act [Dec. 17, 1999], the Comptroller General of the United 
States shall undertake a study to evaluate the coordination under 
current law of the disability insurance program under title II of the 
Social Security Act (42 U.S.C. 401 et seq.) and the supplemental 
security income program under title XVI of such Act (42 U.S.C. 1381 et 
seq.), as such programs relate to individuals entering or leaving 
concurrent entitlement under such programs. In such study, the 
Comptroller General shall specifically address the effectiveness of work 
incentives under such programs with respect to such individuals and the 
effectiveness of coverage of such individuals under titles XVIII and XIX 
of such Act (42 U.S.C. 1395 et seq., 1396 et seq.).
    ``(2) Report.--Not later than 3 years after the date of the 
enactment of this Act, the Comptroller General shall transmit to the 
Committee on Ways and Means of the House of Representatives and the 
Committee on Finance of the Senate a written report presenting the 
results of the Comptroller General's study conducted pursuant to this 
subsection, together with such recommendations for legislative or 
administrative changes as the Comptroller General determines are 
appropriate.''


    Use of Continuing Disability Review Funds and Report Requirement

    Section 103(d) of Pub. L. 104-121, as amended by Pub. L. 104-193, 
title II, Sec. 211(d)(5)(D), Aug. 22, 1996, 110 Stat. 2192, provided 
that:
    ``(1) In general.--The Commissioner of Social Security shall ensure 
that funds made available for continuing disability reviews (as defined 
in section 201(g)(1)(A) of the Social Security Act [subsec. (g)(1)(A) of 
this section]) are used, to the greatest extent practicable, to maximize 
the combined savings in the old-age, survivors, and disability 
insurance, supplemental security income, Medicare, and medicaid 
programs, except that the amounts appropriated pursuant to the 
authorization and discretionary spending allowance provisions in section 
211(d)(2)(5) of the Personal Responsibility and Work Opportunity 
Reconciliation Act of 1996 [probably means section 211(d)(5) of Pub. L. 
104-193, which amended sections 665e and 901 of Title 2, The Congress, 
enacted provisions set out as a note under section 1382c of this title, 
and amended this note] shall be used only for continuing disability 
reviews and redeterminations under title XVI of the Social Security Act 
[subchapter XVI of this chapter].
    ``(2) Report.--The Commissioner of Social Security shall provide 
annually (at the conclusion of each of the fiscal years 1996 through 
2002) to the Congress a report on continuing disability reviews which 
includes--
        ``(A) the amount spent on continuing disability reviews in the 
    fiscal year covered by the report, and the number of reviews 
    conducted, by category of review;
        ``(B) the results of the continuing disability reviews in terms 
    of cessations of benefits or determinations of continuing 
    eligibility, by program; and
        ``(C) the estimated savings over the short-, medium-, and long-
    term to the old-age, survivors, and disability insurance, 
    supplemental security income, Medicare, and medicaid programs from 
    continuing disability reviews which result in cessations of benefits 
    and the estimated present value of such savings.''


   Repeal of Changes in Medicare Part B Monthly Premium and Financing

    Section 202(a) of Pub. L. 101-234 provided that: ``Sections 211 
through 213 (other than sections 211(b) and 211(c)(3)(B)) of MCCA [Pub. 
L. 100-360, which enacted sections 1395t-1 and 1395t-2 of this title, 
amended this section and sections 1395i, 1395l, 1395r, 1395s, 1395t, 
1395w, and 1395mm of this title, and enacted provisions set out as a 
note under section 1395r of this title] are repealed and the provisions 
of law amended or repealed by such sections are restored or revised as 
if such sections had not been enacted.''


  Transfer of Equivalent of 1983 Tax Increases to Payor Funds; Reports

    Section 121(e) of Pub. L. 98-21, as amended by Pub. L. 99-514, 
Sec. 2, Oct. 22, 1986, 100 Stat. 2095; Pub. L. 103-66, title XIII, 
Sec. 13215(c), Aug. 10, 1993, 107 Stat. 476; Pub. L. 104-188, title I, 
Sec. 1703(n)(12), Aug. 20, 1996, 110 Stat. 1877, provided that:
    ``(1) In general.--(A) There are hereby appropriated to each payor 
fund amounts equivalent to (i) the aggregate increase in tax liabilities 
under chapter 1 of the Internal Revenue Code of 1986 [26 U.S.C. 1 et 
seq.] which is attributable to the application of sections 86 and 
871(a)(3) of such Code (as added by this section) [26 U.S.C. 86, 
871(a)(3)] to payments from such payor fund, less (ii) the amounts 
equivalent to the aggregate increase in tax liabilities under chapter 1 
of the Internal Revenue Code of 1986 which is attributable to the 
amendments to section 86 of such Code made by section 13215 of the 
Revenue Reconciliation Act of 1993 [Pub. L. 103-66].
    ``(B) There are hereby appropriated to the hospital insurance trust 
fund amounts equal to the increase in tax liabilities described in 
subparagraph (A)(ii). Such appropriated amounts shall be transferred 
from the general fund of the Treasury on the basis of estimates of such 
tax liabilities made by the Secretary of the Treasury. Transfers shall 
be made pursuant to a schedule made by the Secretary of the Treasury 
that takes into account estimated timing of collection of such 
liabilities.
    ``(2) Transfers.--The amounts appropriated by paragraph (1)(A) to 
any payor fund shall be transferred from time to time (but not less 
frequently than quarterly) from the general fund of the Treasury on the 
basis of estimates made by the Secretary of the Treasury of the amounts 
referred to in such paragraph. Any such quarterly payment shall be made 
on the first day of such quarter and shall take into account social 
security benefits estimated to be received during such quarter. Proper 
adjustments shall be made in the amounts subsequently transferred to the 
extent prior estimates were in excess of or less than the amounts 
required to be transferred.
    ``(3) Definitions.--For purposes of this subsection--
        ``(A) Payor fund.--The term `payor fund' means any trust fund or 
    account from which payments of social security benefits are made.
        ``(B) Hospital insurance trust fund.--The term `hospital 
    insurance trust fund' means the fund established pursuant to section 
    1817 of the Social Security Act [section 1395i of this title].
        ``(C) Social security benefits.--The term `social security 
    benefits' has the meaning given such term by section 86(d)(1) of the 
    Internal Revenue Code of 1986 [26 U.S.C. 86(d)(1)].
    ``(4) Reports.--The Secretary of the Treasury shall submit annual 
reports to the Congress and to the Secretary of Health and Human 
Services and the Railroad Retirement Board on--
        ``(A) the transfers made under this subsection during the year, 
    and the methodology used in determining the amount of such transfers 
    and the funds or account to which made, and
        ``(B) the anticipated operation of this subsection during the 
    next 5 years.''


      Reimbursement to Trust Funds for Unnegotiated Benefit Checks

    Section 152(c) of Pub. L. 98-21 provided that:
    ``(1) The Secretary of the Treasury shall transfer from the general 
fund of the Treasury to the Federal Old-Age and Survivors Insurance 
Trust Fund and to the Federal Disability Insurance Trust Fund, in the 
month following the month in which this Act is enacted [April 1983] and 
in each of the succeeding 30 months, such sums as may be necessary to 
reimburse such Trust Funds in the total amount of all checks (including 
interest thereof) which he and the Secretary of Health and Human 
Services jointly determine to be unnegotiated benefit checks, to the 
extent provided in advance in appropriation Acts. After any amounts 
authorized by this subsection have been transferred to a Trust Fund with 
respect to any benefit check, the provisions of paragraphs (3) and (4) 
of section 201(m) of the Social Security Act [subsec. (m)(3), (4) of 
this section] (as added by subsection (a) of this section) shall be 
applicable to such check.
    ``(2) As used in paragraph (1), the term `unnegotiated benefit 
checks' means checks for benefits under title II of the Social Security 
Act [this subchapter] which are issued prior to the twenty-fourth month 
following the month in which this Act is enacted [April 1983], which 
remain unnegotiated after the sixth month following the date on which 
they were issued, and with respect to which no transfers have previously 
been made in accordance with the first sentence of such paragraph.''


        Study of Float Period of Monthly Insurance Benefit Checks

    Section 153 of Pub. L. 98-21 directed Secretary of Health and Human 
Services and Secretary of the Treasury jointly to undertake a thorough 
study with respect to period of time (referred to as ``float period'') 
between issuance of checks from general fund of Treasury in payment of 
monthly insurance benefits under title II of the Social Security Act 
[this subchapter] and transfer to general fund from Federal Old-Age and 
Survivors Insurance Trust Fund or Federal Disability Insurance Trust 
Fund, as applicable, of amounts necessary to compensate general fund for 
issuance of such checks, with Secretaries to submit a report to 
President an Congress not later than twelve months after Apr. 20, 1983, 
on their findings as to necessity of making adjustments in procedures 
governing payment of monthly insurance benefits.


     Due Date for 1983 Report on Operation and Status of Trust Fund

    Section 154(d) of Pub. L. 98-21 provided that notwithstanding 
sections 401(c)(2), 1395i(b)(2), and 1395t(b)(2) of this title, the 
annual reports of the Boards of Trustees of the Trust Funds which are 
required in calendar year 1983 under those sections may be filed at any 
time not later than forty-five days after Apr. 20, 1983.


  Study Relating to Establishment of Time Limitations for Decisions on 
                       Claims for Benefits; Report

    Section 308 of Pub. L. 96-265 directed Secretary of Health and Human 
Services to submit to Congress, no later than July 1, 1980, a report 
recommending establishment of appropriate time limitations governing 
decisions on claims for benefits under this subchapter, taking into 
account both need for expeditious processing of claims for benefits and 
need to assure that all such claims will be thoroughly considered and 
accurately determined.


         Effects of Certain Amendments by Pub. L. 96-265; Report

    Section 312 of Pub. L. 96-265 directed Secretary of Health and Human 
Services to submit to Congress, not later than Jan. 1, 1985, a full and 
complete report as to effects produced by reason of preceding provisions 
of this Act and amendments made thereby (see Tables for classification).


  Appointment and Compensation of Individuals Necessary To Assist the 
                            Board of Trustees

    Section 8(e) of Pub. L. 94-202 provided that: ``Any persons the 
Board of Trustees finds necessary to employ to assist it in performing 
its functions under section 201(g)(4) of the Social Security Act 
[subsec. (g)(4) of this section] may be appointed without regard to the 
civil service or classification laws, shall be compensated, while so 
employed at rates fixed by the Board of Trustees, but not exceeding $100 
per day, and, while away from their homes or regular places of business, 
they may be allowed traveling expenses, including per diem in lieu of 
subsistence, as authorized by law for persons in the Government service 
employed intermittently.''


    Method of Determining Costs Prescribed by the Board of Trustees 
                   Certification and Transfer of Funds

    Section 8(f) of Pub. L. 94-202, as amended by Pub. L. 99-514, 
Sec. 2, Oct. 22, 1986, 100 Stat. 2095, provided that: ``The Secretary 
shall not make any estimates pursuant to section 201(g)(1)(A)(ii) of the 
Social Security Act [subsec. (g)(1)(A)(ii) of this section] before the 
Board of Trustees prescribes the method of determining costs as provided 
in section 201(g)(4) of such Act [subsec. (g)(4) of this section]. The 
determinations pursuant to section 201(g)(1)(B) of the Social Security 
Act [subsec. (g)(1)(B) of this section] with respect to the carrying out 
of the functions of the Department of Health, Education, and Welfare 
[now Health and Human Services] specified in section 232 of such Act 
[section 432 of this title], which relate to the administration of 
provisions of the Internal Revenue Code of 1986 [formerly I.R.C. 1954] 
(other than those referred to in clause (i) of the first sentence of 
section 201(g)(1)(A) of the Social Security Act [subsec. (g)(1)(A) of 
this section]), during fiscal years ending before the Board of Trustees 
prescribes the method of making such determinations, shall be made after 
the Board of Trustees has prescribed such method. The Secretary of 
Health, Education, and Welfare [now Health and Human Services] shall 
certify to the Managing Trustee the amounts that should be transferred 
from the general fund in the Treasury to the Trust Funds (as referred to 
in section 201(g)(1)(A) of the Social Security Act [subsec. (g)(1)(A) of 
this section]) to insure that the general fund in the Treasury bears its 
proper share of the costs of carrying out such functions in such fiscal 
years. The Managing Trustee is authorized and directed to transfer any 
such amounts in accordance with any certification so made.''


          Advances From Trust Funds for Administrative Expenses

    Section 305(b) of Pub. L. 92-603 provided that:
    ``(1) Sums appropriated pursuant to section 1601 of the Social 
Security Act [section 1381 of this title] shall be utilized from time to 
time, in amounts certified under the second sentence of section 
201(g)(1)(A) of such Act [subsec. (g)(1)(A) of this section], to repay 
the Trust Funds for expenditures made from such Funds in any fiscal year 
under section 201(g)(1)(A) of such Act (as amended by subsection (a) of 
this section) [amending subsec. (g)(1)(A) of this section] on account of 
the costs of administration of title XVI of such Act [subchapter XVI of 
this chapter] (as added by section 301 of this Act).
    ``(2) If the Trust Funds have not theretofore been repaid for 
expenditures made in any fiscal year (as described in paragraph (1)) to 
the extent necessary on account of--
        ``(A) expenditures made from such Funds prior to the end of such 
    fiscal year to the extent that the amount of such expenditures 
    exceeded the amount of the expenditures which would have been made 
    from such Funds if subsection (a) had not been enacted,
        ``(B) the additional administrative expenses, if any, resulting 
    from the excess expenditures described in subparagraph (A), and
        ``(C) any loss in interest to such Funds resulting from such 
    excess expenditures and such administrative expenses,
in order to place each such Fund in the same position (at the end of 
such fiscal year) as it would have been in if such excess expenditures 
had not been made, the amendments made by subsection (a) shall cease to 
be effective at the close of the fiscal year following such fiscal year.
    ``(3) As used in this subsection, the term `Trust Funds' has the 
meaning given it in section 201(g)(1)(A) of the Social Security Act 
[subsec. (g)(1)(A) of this section].''


   Advances From Trust Funds for Administrative Purposes; Fiscal Year 
 Transition Period of July 1, 1976, Through September 30, 1976, Deemed 
                               Fiscal Year

    Fiscal year transition period of July 1, 1976, through Sept. 30, 
1976, deemed fiscal year for purposes of section 305(b) of Pub. L. 92-
603, set out as a note above, relating to advances from trust funds for 
administrative purposes, see section 201(11) of Pub. L. 94-274, title 
II, Apr. 21, 1976, 90 Stat. 390, set out as a note under section 343 of 
Title 7, Agriculture.


Gifts and Bequests for the Use of the United States and for Exclusively 
                             Public Purposes

    Section 132(g) of Pub. L. 92-603 provided that: ``For the purpose of 
Federal income, estate, and gift taxes, any gift or bequest to the 
Federal Old-Age and Survivors Insurance Trust Fund, the Federal 
Disability Insurance Trust Fund, the Federal Hospital Insurance Trust 
Fund, or the Federal Supplementary Medical Insurance Trust Fund, or to 
the Department of Health, Education, and Welfare [now Health and Human 
Services], or any part or officer thereof, for the benefit of any of 
such Funds or any activity financed through any of such Funds, which is 
accepted by the Managing Trustee of such Trust Funds under the authority 
of section 201(i) of the Social Security Act [subsec. (i) of this 
section], shall be considered as a gift or bequest to or for the use of 
the United States and as made for exclusively public purposes.''


 Taxes on Services Rendered by Employees of International Organizations 
                          Prior to Jan. 1, 1946

    Section 5(b) of act Dec. 29, 1945, ch. 652, title I, 59 Stat. 671, 
prohibited collection of tax under title VIII or IX of the Social 
Security Act or under the Federal Insurance Contributions Act or the 
Federal Unemployment Tax Act with respect to services rendered prior to 
January 1, 1946, which were described in paragraph (16) of sections 
1426(b) and 1607(c) of the Internal Revenue Code of 1939, and authorized 
refund of taxes collected.

                        Executive Order No. 12335

    Ex. Ord. No. 12335, Dec. 16, 1981, 46 F.R. 61633, as amended by Ex. 
Ord. No. 12397, Dec. 23, 1982, 47 F.R. 57651; Ex. Ord. No. 12402, Jan. 
15, 1983, 48 F.R. 2311, which established the National Commission on 
Social Security Reform and provided for its membership, functions, etc., 
was revoked by Ex. Ord. No. 12534, Sept. 30, 1985, 50 F.R. 40319, 
formerly set out as a note under section 14 of the Federal Advisory 
Committee Act in the Appendix to Title 5, Government Organization and 
Employees.

                  Section Referred to in Other Sections

    This section is referred to in sections 415, 417, 421, 429, 909, 
910, 1320b-1, 1395i, 1395t of this title; title 2 section 901; title 26 
section 3121.
