Federal Trust Fund Restoration and Protection Act of 1985

Summary

Federal Trust Fund Restoration and Protection Act of 1985 - Requires the Secretary of the Treasury to: (1) pay to the Federal Old-Age and Survivors Insurance Trust Fund, the Federal Disability Insurance Trust Fund, the Federal Hospital Insurance Trust Fund, the Federal Supplementary Medical Insurance Trust Fund, the Railroad Retirement Account, the Civil Service Retirement and Disability Fund, the Department of Defense Military Retirement Fund, and other Government trust funds the net amount of interest that would have accrued to each fund but for any noninvestments, redemptions, and disinvestments of such fund between September 1, 1984, and the date of enactment of this Act to avoid violating the public debt limit; and (2) issue to each trust fund obligations with maturities and interest rates that will ensure the trust fund the same projected annual interest income that the fund would have received but for any such noninvestments, redemptions, and disinvestments. Requires the Secretary to take the same actions to restore lost interest resulting from future debt-limit related noninvestments, redemptions, and disinvestments of the trust funds.

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1 official file

• Introduced in House

  summary · EN · 10 December 1985

  Open at official source

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