SENIORS Act of 2015

Summary: Saving the Earnings and Noting the Investment of Our Retired Seniors Act of 2015 or the SENIORS Act of 2015 This bill expresses the sense of Congress on a cost-of-living increase to Social Security benefits for seniors. The Department of the Treasury shall disburse a one-time payment to certain individuals who are entitled to a benefit under title II (Old Age, Survivors and Disability Insurance) of the Social Security Act (SSAct), an annuity under the Railroad Retirement Act of 1974, or a veterans benefit, or are eligible for a cash benefit under SSAct title XVI (Supplemental Security Income). The amount disbursed shall be 12% of the amount of such benefit payment or SSI cash benefit payable to the individual for November 2015. The Internal Revenue Code is amended to require a Social Security number to claim the refundable portion of the child tax credit. As offsets for these payments:  all balances under the United States Enrichment Corporation Fund are hereby permanently rescinded; of the amounts obligated, but not expended, under the Emergency Economic Stabilization Act of 2008 for the Making Home Affordable Program, Treasury shall transfer $2.5 million to the general fund of the Treasury; and of the funds made available to the Department of Energy under the Consolidated Security, Disaster Assistance, and Continuing Appropriations Act, 2009 for the Advanced Technology Vehicles Manufacturing Loan Program Account for the cost of direct loans as authorized by the Energy Independence and Security Act of 2007, the unobligated balance is hereby rescinded. 

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Saving the Earnings and Noting the 
Investment of Our Retired Seniors Act of 2015'' or the ``SENIORS Act of 
2015''.

SEC. 2. SENSE OF CONGRESS.

    It is the sense of Congress that--
            (1) seniors, especially those on a fixed income, who were 
        promised social security benefits, paid into the system, and 
        now rely on those benefits, receive a proper cost-of-living 
        increase to fulfill their needs; and
            (2) Congress, in coordination with the heads of the Social 
        Security Administration, the Railroad Retirement Board, the 
        Department of Veterans Affairs, and the Department of Labor, 
        should develop a legislative solution to ensure that the cost-
        of-living adjustment formula for Social Security adequately 
        reflects beneficiaries' needs.

SEC. 3. ONE-TIME SUPPLEMENTARY PAYMENT TO BENEFICIARIES OF SOCIAL 
              SECURITY AND VETERANS BENEFITS.

    (a) Authority To Make Payments.--
            (1) Eligibility.--
                    (A) In general.--Subject to paragraph (4)(C), the 
                Secretary of the Treasury shall disburse a payment 
                equal to the amount described in subsection (e) to each 
                individual who, for any month during the 3-month period 
                ending with the month which ends prior to the month 
                that includes the date of the enactment of this Act, is 
                entitled to a benefit payment described in clause (i), 
                (ii), or (iii) of subparagraph (B), or is eligible for 
                a SSI cash benefit described in subparagraph (C).
                    (B) Benefit payment described.--For purposes of 
                subparagraph (A):
                            (i) Title ii benefit.--A benefit payment 
                        described in this clause is a monthly insurance 
                        benefit payable under title II of the Social 
                        Security Act (42 U.S.C. 401 et seq.).
                            (ii) Railroad retirement benefit.--A 
                        benefit payment described in this clause is a 
                        monthly annuity or pension payment payable 
                        under subsection (a), (c), or (d) of section 2 
                        of the Railroad Retirement Act of 1974 (45 
                        U.S.C. 231a).
                            (iii) Veterans benefit.--A benefit payment 
                        described in this clause is a payment made by 
                        the Secretary of Veterans Affairs for a benefit 
                        under the laws administered by the Secretary--
                                    (I) that is covered by section 5312 
                                of title 38, United States Code;
                                    (II) for which there was an 
                                increase in rates made pursuant to the 
                                Veterans' Compensation Cost-of-Living 
                                Adjustment Act of 2014 (Public Law 113-
                                181); or
                                    (III) that would otherwise be 
                                increased pursuant to an increase in 
                                benefit amounts payable under title II 
                                of the Social Security Act (42 U.S.C. 
                                401 et seq.).
                    (C) SSI cash benefit described.--A SSI cash benefit 
                described in this subparagraph is a supplemental 
                security income benefit payable under title XVI of the 
                Social Security Act (42 U.S.C. 1381 et seq.).
            (2) No double payments.--An individual shall be paid only 1 
        payment under this section, regardless of whether the 
        individual is entitled to, or eligible for, more than 1 benefit 
        payment described in paragraph (1).
            (3) Limitation.--A payment under this section shall not be 
        made in the case of any individual whose date of death occurs 
        before the date on which the individual is certified under 
        subsection (b) to receive a payment under this section.
            (4) Timing and manner of payments.--
                    (A) In general.--The Secretary of the Treasury 
                shall commence disbursing payments under this section 
                at the earliest practicable date but in no event later 
                than 120 days after the date of enactment of this Act. 
                The Secretary of the Treasury may disburse any payment 
                electronically to an individual in such manner as if 
                such payment was a benefit payment to such individual 
                under the applicable program described in subparagraph 
                (B) or (C) of paragraph (1).
                    (B) Notice.--
                            (i) In general.--The Secretary of the 
                        Treasury shall provide written notice, sent by 
                        mail to each individual receiving a payment 
                        under this section, explaining that the payment 
                        represents a one-time benefit increase to the 
                        benefit payment described in paragraph (1) to 
                        which the individual is entitled.
                            (ii) Public notice.--The Secretary of the 
                        Treasury, in consultation with the Commissioner 
                        of Social Security and the Secretary of 
                        Veterans Affairs, shall publish on a public Web 
                        site information about the payments authorized 
                        under this subsection, including--
                                    (I) information on eligibility for 
                                such payments;
                                    (II) information on the timeframe 
                                in which such payments will be 
                                distributed; and
                                    (III) other relevant information.
                    (C) Deadline.--No payments shall be disbursed under 
                this section after December 31, 2016, regardless of any 
                determinations of entitlement to, or eligibility for, 
                such payments made after such date.
    (b) Identification of Recipients.--The Commissioner of Social 
Security, the Railroad Retirement Board, and the Secretary of Veterans 
Affairs shall certify the individuals entitled to receive payments 
under this section and provide the Secretary of the Treasury with the 
information needed to disburse such payments. A certification of an 
individual shall be unaffected by any subsequent determination or 
redetermination of the individual's entitlement to, or eligibility for, 
a benefit specified in subparagraph (B) or (C) of subsection (a)(1).
    (c) Treatment of Payments.--
            (1) Payment not considered income for purposes of 
        taxation.--A payment under subsection (a) shall not be 
        considered as gross income for purposes of the Internal Revenue 
        Code of 1986.
            (2) Payments protected from assignment.--The provisions of 
        section 207 of the Social Security Act (42 U.S.C. 407) and 
        section 14(a) of the Railroad Retirement Act of 1974 (45 U.S.C. 
        231m(a)) shall apply to any payment made under subsection (a) 
        as if such payment was a benefit payment to such individual 
        under the applicable program described in subsection (a)(1)(B).
            (3) Treatment under social security act.--
                    (A) No effect on family maximum.--For purposes of 
                section 203(a) of the Social Security Act (42 U.S.C. 
                403(a)), a payment under subsection (a) shall be 
                disregarded in determining reductions in benefits under 
                such section.
                    (B) Payment not a general benefit increase.--For 
                purposes of section 215(i) of the Social Security Act 
                (42 U.S.C. 415(i)), a payment under subsection (a) 
                shall not be regarded as a general benefit increase.
            (4) Payments subject to reclamation.--Any payment made 
        under this section shall, in the case of a payment by direct 
        deposit which is made after the date of the enactment of this 
        Act, be subject to the reclamation provisions under subpart B 
        of part 210 of title 31, Code of Federal Regulations (relating 
        to reclamation of benefit payments).
    (d) Payment to Representative Payees and Fiduciaries.--
            (1) In general.--In any case in which an individual who is 
        entitled to a payment under subsection (a) and whose benefit 
        payment or cash benefit described in paragraph (1) of that 
        subsection is paid to a representative payee or fiduciary, the 
        payment under subsection (a) shall be made to the individual's 
        representative payee or fiduciary and the entire payment shall 
        be used only for the benefit of the individual who is entitled 
        to the payment.
            (2) Applicability.--
                    (A) Payment on the basis of a title ii benefit or 
                ssi benefit.--Section 1129(a)(3) of the Social Security 
                Act (42 U.S.C. 1320a-8(a)(3)) shall apply to any 
                payment made on the basis of an entitlement to a 
                benefit specified in paragraph (1)(B)(i) or (1)(C) of 
                subsection (a) in the same manner as such section 
                applies to a payment under title II or XVI of such Act.
                    (B) Payment on the basis of a railroad retirement 
                benefit.--Section 13 of the Railroad Retirement Act (45 
                U.S.C. 231l) shall apply to any payment made on the 
                basis of an entitlement to a benefit specified in 
                paragraph (1)(B)(ii) of subsection (a) in the same 
                manner as such section applies to a payment under such 
                Act.
                    (C) Payment on the basis of a veterans benefit.--
                Sections 5502, 6106, and 6108 of title 38, United 
                States Code, shall apply to any payment made on the 
                basis of an entitlement to a benefit specified in 
                paragraph (1)(B)(iii) of subsection (a) in the same 
                manner as those sections apply to a payment under that 
                title.
    (e) Payment Amount.--The amount described in this subsection, with 
respect to an individual who is entitled to a benefit payment described 
in clause (i), (ii), or (iii) of subparagraph (B) of subsection (a)(1) 
or eligible for a SSI cash benefit described in subparagraph (C) of 
such subsection, is the amount that is equal to 12 percent of the 
amount of such benefit payment or SSI cash benefit payable to the 
individual for the month of November 2015.
    (f) Appropriation.--Out of any sums in the Treasury of the United 
States not otherwise appropriated, the following sums are appropriated 
for the period of fiscal years 2016 through 2017, to remain available 
until expended, to carry out this section:
            (1) For the Secretary of the Treasury, such sums as may be 
        necessary for administrative costs incurred in carrying out 
        this section.
            (2) For the Commissioner of Social Security--
                    (A) such sums as may be necessary for payments to 
                individuals certified by the Commissioner of Social 
                Security as entitled to receive a payment under this 
                section; and
                    (B) such sums as may be necessary to the Social 
                Security Administration's Limitation on Administrative 
                Expenses for costs incurred in carrying out this 
                section.
            (3) For the Railroad Retirement Board--
                    (A) such sums as may be necessary for payments to 
                individuals certified by the Railroad Retirement Board 
                as entitled to receive a payment under this section; 
                and
                    (B) such sums as may be necessary to the Railroad 
                Retirement Board's Limitation on Administration for 
                administrative costs incurred in carrying out this 
                section.
            (4)(A) For the Secretary of Veterans Affairs--
                    (i) such sums as may be necessary for the 
                Compensation and Pensions account, for payments to 
                individuals certified by the Secretary of Veterans 
                Affairs as entitled to receive a payment under this 
                section; and
                    (ii) such sums as may be necessary for the 
                Information Systems Technology account and the General 
                Operating Expenses account for administrative costs 
                incurred in carrying out this section.
            (B) The Department of Veterans Affairs Compensation and 
        Pensions account shall hereinafter be available for payments 
        authorized under subsection (a)(1)(A) to individuals entitled 
        to a benefit payment described in subsection (a)(1)(B)(iii).

SEC. 4. OFFSETS.

    (a) Rescission of Funds in U.S. Enrichment Corporation Fund.--All 
balances under ``United States Enrichment Corporation Fund'' are hereby 
permanently rescinded. No amounts may be rescinded from amounts that 
were designated by the Congress as an emergency requirement pursuant to 
a concurrent resolution on the budget or the Balanced Budget and 
Emergency Deficit Control Act of 1985.
    (b) Social Security Number Required To Claim the Refundable Portion 
of the Child Tax Credit.--
            (1) In general.--Section 24(d) of the Internal Revenue Code 
        of 1986 is amended by adding at the end the following new 
        paragraph:
            ``(5) Identification requirement with respect to taxpayer 
        and qualifying child.--
                    ``(A) In general.--Paragraph (1) shall not apply to 
                any taxpayer for any taxable year unless the taxpayer 
                includes on the return of tax for such taxable year the 
                taxpayer's social security number.
                    ``(B) Joint returns.--In the case of a joint 
                return, the requirement of subparagraph (A) shall be 
                treated as met if the social security number of either 
                spouse is included on such return.
                    ``(C) Limitation.--Subparagraph (A) shall not apply 
                to the extent that the tentative minimum tax (as 
                defined in section 55(b)(1)(A)) exceeds the credit 
                allowed under section 32.''.
            (2) Omissions treated as mathematical or clerical error.--
        Section 6213(g)(2)(I) of such Code is amended to read as 
        follows:
                    ``(I) an omission of a correct social security 
                number required under section 24(d)(5) (relating to 
                refundable portion of child tax credit), or a correct 
                TIN under section 24(e) (relating to child tax credit), 
                to be included on a return,''.
            (3) Conforming amendment.--Section 24(e) of such Code is 
        amended by inserting ``With Respect to Qualifying Children'' 
        after ``Identification Requirement'' in the heading thereof.
            (4) Effective date.--The amendments made by this section 
        shall apply to taxable years beginning after December 31, 2015.
    (c) Rescission of Funds for the Making Home Affordable Program.--Of 
the amounts obligated, but not expended, under the Emergency Economic 
Stabilization Act of 2008 for the Making Home Affordable Program of the 
Department of the Treasury, the Secretary of the Treasury shall 
transfer $2,500,000,000 to the general fund of the Treasury.
    (d) Rescission of Funds for the DOE ATVM Loan Program.--Of the 
funds made available by section 129 of the Consolidated Security, 
Disaster Assistance, and Continuing Appropriations Act, 2009, Public 
Law 110-329, the unobligated balance is hereby rescinded.

SEC. 5. REPORT.

    Not later than 1 year after the date of the enactment of this Act, 
the heads of the Social Security Administration, the Railroad 
Retirement Board, the Department of Veterans Affairs, and the 
Department of Labor shall jointly submit a report to Congress that 
includes a legislative solution to ensure that the cost-of-living 
adjustment formula for Social Security adequately reflects 
beneficiary's needs.