SECTION 1. ELIMINATION OF REMAINDER OF SCHIP FUNDING SHORTFALLS FOR 
              FISCAL YEAR 2007.

    (a) In General.--Section 2104(h) of the Social Security Act (42 
U.S.C. 1397dd(h)), as added by section 201(a) of the National 
Institutes of Health Reform Act of 2006, is amended--
            (1) by redesignating paragraphs (4) through (7) as 
        paragraphs (5) through (8), respectively;
            (2) by inserting after paragraph (3), the following:
            ``(4) Additional amounts to eliminate remainder of fiscal 
        year 2007 funding shortfalls.--
                    ``(A) Allotment authority.--From the amounts made 
                available under subparagraph (D) for additional 
                allotments under this paragraph, subject to 
                subparagraph (C), the Secretary shall allot to each 
                remaining shortfall State described in subparagraph (B) 
                such amount as the Secretary determines will eliminate 
                the estimated shortfall described in such subparagraph 
                for the State for fiscal year 2007.
                    ``(B) Remaining shortfall state described.--For 
                purposes of subparagraph (A), a remaining shortfall 
                State is a State with a State child health plan 
                approved under this title for which the Secretary 
                estimates, on the basis of the most recent data 
                available to the Secretary as of March 31, 2007, that 
                the projected Federal expenditures under such plan for 
                the State for fiscal year 2007 will exceed the sum of--
                            ``(i) the amount of the State's allotments 
                        for each of fiscal years 2005 and 2006 that 
                        will not be expended by the end of fiscal year 
                        2006;
                            ``(ii) the amount of the State's allotment 
                        for fiscal year 2007; and
                            ``(iii) the amounts, if any, that are to be 
                        redistributed to the State during fiscal year 
                        2007 in accordance with paragraphs (1) and (2).
                    ``(C) Proration rule.--If the amount available 
                under subparagraph (D) is less than the total amount of 
                the estimated shortfalls determined by the Secretary 
                under subparagraph (A), the amount of the allotment for 
                each remaining shortfall State determined under such 
                subparagraph shall be reduced proportionally.
                    ``(D) Appropriation; allotment authority.--For the 
                purpose of providing additional allotments to remaining 
                shortfall States under this paragraph there is 
                appropriated, out of any funds in the Treasury not 
                otherwise appropriated, such sums as are necessary for 
                fiscal year 2007, not to exceed $750,000,000. Amounts 
                appropriated pursuant to the preceding sentence are 
                designated as an emergency requirement pursuant to 
                section 402 of H. Con. Res. 95 (109th Congress).''.
    (b) Conforming Amendments.--Such section is further amended--
            (1) in paragraph (1)(B), by striking ``paragraph (4)(B)'' 
        and inserting ``paragraph (5)(B)'';
            (2) in paragraph (2)--
                    (A) in the paragraph heading, by striking 
                ``remainder of reduction'' and inserting ``part'';
                    (B) in subparagraph (A), by striking ``paragraph 
                (5)(B)'' and inserting ``paragraph (6)(B)''; and
                    (C) in subparagraph (B), by striking ``paragraph 
                (4)(B)'' and inserting ``paragraph (5)(B)'';
            (3) in paragraph (5) (as redesignated by subsection 
        (a)(1))--
                    (A) in subparagraph (A), by inserting ``or 
                allotted'' after ``redistributed''; and
                    (B) in subparagraph (B)--
                            (i) by inserting ``or allotted'' after 
                        ``redistributed'';
                            (ii) by striking ``To the'' and inserting 
                        the following:
                            ``(i) In general.--Subject to clause (ii), 
                        to the''; and
                            (iii) by adding at the end the following 
                        new clause:
                            ``(ii) Exception for remaining shortfall 
                        states with lowest third ranking of uninsured 
                        children.--Only with respect to the amounts 
                        allotted under paragraph (4) to a remaining 
                        shortfall State described in subparagraph (B) 
                        of such paragraph, clause (i) shall not apply 
                        to any such State that, on the basis of the 
                        most recent American Community Survey of the 
                        Bureau of the Census (or, until such data is 
                        available, on the basis of the 3 most recent 
                        Annual Social and Economic Supplements of the 
                        Current Population Survey of the Bureau of the 
                        Census), ranks in the lowest \1/3\ of States in 
                        terms of the State's percentage of low-income 
                        children without health insurance.'';
            (4) in subparagraph (6)(A) (as so redesignated), by 
        striking ``and (3)'' and inserting ``(3), and (4)''; and
            (5) in paragraph (7) (as so redesignated)--
                    (A) in the first sentence--
                            (i) by inserting ``or allotted'' after 
                        ``redistributed''; and
                            (ii) by inserting ``or allotments'' after 
                        ``redistributions''; and
                    (B) in the second sentence, by striking ``and (3), 
                in accordance with paragraph (5)'' and inserting ``(3), 
                and (4) in accordance with paragraph (6)''.

SEC. 2. EXTENSION OF SSI ASSET VERIFICATION DEMONSTRATION TO MEDICAID.

    (a) In General.--Subject to subsection (b), the Secretary of Health 
and Human Services shall collaborate with the Commissioner of Social 
Security to provide for the use, for purposes of verifying financial 
eligibility for medical assistance under State plans under title XIX of 
the Social Security Act (42 U.S.C. 1396 et seq.), of the system 
administered by the Commissioner (under section 1631(e)(1)(B)(ii) of 
such Act (42 U.S.C. 1383(e)(1)(B)(ii)) under which the Commissioner may 
obtain information held by financial institutions in order to verify 
eligibility for benefits under title XVI of such Act (42 U.S.C. 1381 et 
seq.).
    (b) Limitation.--For purposes of this section, use of the system 
described in subsection (a), and the information obtained through such 
system, shall be limited to determinations of eligibility for medical 
assistance in States in which such system is being used by the 
Commissioner to verify eligibility for benefits under such title XVI.
    (c) Sharing by Commissioner of Information Obtained From Financial 
Institutions.--Notwithstanding the Right to Financial Privacy Act of 
1978 (12 U.S.C. 3401 et seq.) or any other provision of law, 
information obtained by the Commissioner from financial institutions 
under the system described in subsection (a) may, for purposes of 
carrying out this section, be shared with the agencies of States 
specified in subsection (b) which are administering the plans of such 
States under title XIX of the Social Security Act.
Amends title XXI (State Children's Health Insurance) (SCHIP) of the Social Security Act (SSA) to provide additional amounts to eliminate the remainder of SCHIP funding shortfalls for FY2007.

Directs the Secretary of Health and Human Services, in order to verify SSA title XIX (Medicaid) financial eligibility, to collaborate with the Commissioner of Social Security for use of the system for obtaining financial institution information to verify eligibility for SSA title XVI (Supplemental Security Income) (SSI) benefits.
A bill to amend title XXI of the Social Security Act to eliminate the remainder of funding shortfalls for the State Children's Health Insurance Program (SCHIP) for fiscal year 2007, and for other purposes.