A bill to amend Title II of the Social Security Act to permit borrowing between Social Security trust funds under specified conditions when necessary to assist in financing the old age and survivors program.

openUnited States· United States Congress· EN

Introduced

9 September 1981

Last action

—

Status

Committee on Finance requested executive comment from OMB; Treasury Department; Health and Human Services Department.

Summary

Amends title II (Old Age, Survivors and Disability Insurance) of the Social Security Act to permit the Trustees of the Federal Old-Age and Survivors Insurance Trust Fund to borrow from the Disability Insurance Trust Fund or the Federal Hospital Insurance Trust Fund, prior to fiscal year 1991, in any month in which the Federal Old-Age and Survivors Insurance Trust Fund falls below 20 percent of the amount of its disbursements for the 12 months preceding the borrowing. Provides for the repayment of any such loan.

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Documents

1 official file

Introduced in Senate
summary · EN · 9 September 1981
Open at official source

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Sources

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Official source: https://www.congress.gov/bill/97th-congress/senate-bill/1600
Open data entity: https://api.congress.gov/v3/bill/97/s/1600