A bill to amend the Social Security Act to provide for the removal of the social security trust funds from the unified budget and to provide for crediting to the social security trust funds in the amount of unnegotiated social security checks.

Summary

Amends part A (General Provisions) of title XI of the Social Security Act to exclude the receipts and disbursements of the Federal Old-Age and Survivors Insurance Trust Fund, the Federal Disability Insurance Trust Fund, and the Federal Hospital Insurance Trust Fund from the totals of the Federal budget. Directs the President to prepare and transmit to Congress requests for new budget authority and estimates of outlays and revenues for the Federal Supplementary Medical Insurance Trust Fund which are separate from the requests for new budget authority and estimates of outlays and revenues included in the budget. Amends title II (Old Age, Survivors and Disability Insurance) of the Social Security Act to direct the Secretary of the Treasury to implement procedures for identifying social security benefit checks issued under title II which have not been negotiated within one year and to credit the appropriate social security trust fund on a monthly basis for the amount of all unnegotiated benefit checks drawn on such trust fund. Requires the Secretary to pay a benefit check presented for payment after it has been credited to one of the trust funds if it is otherwise proper. Authorizes appropriations to reimburse the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund for the total amount of unnegotiated benefit checks.

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Documents

1 official file

• Introduced in House

  summary · EN · 27 April 1982

  Open at official source

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