I 

114TH CONGRESS 

1ST SESSION H. R. 4012 

To provide for a supplementary payment to Social Security beneficiaries, 

supplemental security income beneficiaries, and recipients of veterans 

benefits, and for other purposes. 

IN THE HOUSE OF REPRESENTATIVES 

NOVEMBER 16, 2015 

Mr. GRAYSON introduced the following bill; which was referred to the Committee on Ways and Means, and in addition to the Committees on Transportation and Infrastructure and Veterans’ Affairs, for a period to be 

subsequently determined by the Speaker, in each case for consideration 

of such provisions as fall within the jurisdiction of the committee concerned 

A BILL 

To provide for a supplementary payment to Social Security 

beneficiaries, supplemental security income beneficiaries, 

and recipients of veterans benefits, and for other purposes. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Seniors And Veterans 

5 Emergency Benefits Act’’ or the ‘‘SAVE Benefits Act’’. 


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1 SEC. 2. ONE-TIME SUPPLEMENTARY PAYMENT TO SOCIAL 

2 SECURITY BENEFICIARIES AND VETERANS. 

3 (a) AUTHORITY TO MAKE PAYMENTS.— 

4 (1) ELIGIBILITY.— 

5 (A) IN GENERAL.—Subject to paragraph 

6 (4)(C), the Secretary of the Treasury shall dis7 burse a payment equal to the amount described 

8 in subsection (e) to each individual who, for any 

9 month during the 3-month period ending with 

10 the month which ends prior to the month that 

11 includes the date of the enactment of this Act, 

12 is entitled to a benefit payment described in 

13 clause (i), (ii), or (iii) of subparagraph (B), or 

14 is eligible for an SSI cash benefit described in 

15 subparagraph (C). 

16 (B) BENEFIT PAYMENT DESCRIBED.—For 

17 purposes of subparagraph (A): 

18 (i) TITLE II BENEFIT.—A benefit pay19 ment described in this clause is a monthly 

20 insurance benefit payable (without regard 

21 to sections 202(j)(1) and 223(b) of the So22 cial Security Act (42 U.S.C. 402(j)(1), 

23 423(b))) under— 

24 (I) section 202(a) of such Act 

25 (42 U.S.C. 402(a)); 


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1 (II) section 202(b) of such Act 

2 (42 U.S.C. 402(b)); 

3 (III) section 202(c) of such Act 

4 (42 U.S.C. 402(c)); 

5 (IV) section 202(d)(1)(B)(ii) of 

6 such Act (42 U.S.C. 

7 402(d)(1)(B)(ii)); 

8 (V) section 202(e) of such Act 

9 (42 U.S.C. 402(e)); 

10 (VI) section 202(f) of such Act 

11 (42 U.S.C. 402(f)); 

12 (VII) section 202(g) of such Act 

13 (42 U.S.C. 402(g)); 

14 (VIII) section 202(h) of such Act 

15 (42 U.S.C. 402(h)); 

16 (IX) section 223(a) of such Act 

17 (42 U.S.C. 423(a)); 

18 (X) section 227 of such Act (42 

19 U.S.C. 427); or 

20 (XI) section 228 of such Act (42 

21 U.S.C. 428). 

22 (ii) RAILROAD RETIREMENT BEN23 EFIT.—A benefit payment described in this 

24 clause is a monthly annuity or pension 

25 payment payable (without regard to section 


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1 5(a)(ii) of the Railroad Retirement Act of 

2 1974 (45 U.S.C. 231d(a)(ii))) under— 

3 (I) section 2(a)(1) of such Act 

4 (45 U.S.C. 231a(a)(1)); 

5 (II) section 2(c) of such Act (45 

6 U.S.C. 231a(c)); 

7 (III) section 2(d)(1)(i) of such 

8 Act (45 U.S.C. 231a(d)(1)(i)); 

9 (IV) section 2(d)(1)(ii) of such 

10 Act (45 U.S.C. 231a(d)(1)(ii)); 

11 (V) section 2(d)(1)(iii)(C) of such 

12 Act to an adult disabled child (45 

13 U.S.C. 231a(d)(1)(iii)(C)); 

14 (VI) section 2(d)(1)(iv) of such 

15 Act (45 U.S.C. 231a(d)(1)(iv)); 

16 (VII) section 2(d)(1)(v) of such 

17 Act (45 U.S.C. 231a(d)(1)(v)); or 

18 (VIII) section 7(b)(2) of such Act 

19 (45 U.S.C. 231f(b)(2)) with respect to 

20 any of the benefit payments described 

21 in clause (i) of this subparagraph. 

22 (iii) VETERANS BENEFIT.—A benefit 

23 payment described in this clause is a com24 pensation or pension payment payable 

25 under— 


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1 (I) section 1110, 1117, 1121, 

2 1131, 1141, or 1151 of title 38, 

3 United States Code; 

4 (II) section 1310, 1312, 1313, 

5 1315, 1316, or 1318 of title 38, 

6 United States Code; 

7 (III) section 1513, 1521, 1533, 

8 1536, 1537, 1541, 1542, or 1562 of 

9 title 38, United States Code; or 

10 (IV) section 1805, 1815, or 1821 

11 of title 38, United States Code, 

12 to a veteran, surviving spouse, child, or 

13 parent as described in paragraph (2), (3), 

14 (4)(A)(ii), or (5) of section 101, title 38, 

15 United States Code, who received that ben16 efit during any month within the 3-month 

17 period ending with the month which ends 

18 prior to the month that includes the date 

19 of the enactment of this Act. 

20 (C) SSI CASH BENEFIT DESCRIBED.—An 

21 SSI cash benefit described in this subparagraph 

22 is a cash benefit payable under section 1611 

23 (other than under subsection (e)(1)(B) of such 

24 section) or 1619(a) of the Social Security Act 

25 (42 U.S.C. 1382, 1382h). 


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1 (2) NO DOUBLE PAYMENTS.—An individual 

2 shall be paid only 1 payment under this section, re3 gardless of whether the individual is entitled to, or 

4 eligible for, more than 1 benefit payment described 

5 in paragraph (1). 

6 (3) LIMITATION.—A payment under this section 

7 shall not be made— 

8 (A) in the case of an individual entitled to 

9 a benefit specified in paragraph (1)(B)(i) or 

10 paragraph (1)(B)(ii)(VIII) if, for the most re11 cent month of such individual’s entitlement in 

12 the 3-month period described in paragraph (1), 

13 such individual’s benefit under such paragraph 

14 was not payable by reason of subsection (x) or 

15 (y) of section 202 the Social Security Act (42 

16 U.S.C. 402) or section 1129A of such Act (42 

17 U.S.C. 1320a–8a); 

18 (B) in the case of an individual entitled to 

19 a benefit specified in paragraph (1)(B)(iii) if, 

20 for the most recent month of such individual’s 

21 entitlement in the 3-month period described in 

22 paragraph (1), such individual’s benefit under 

23 such paragraph was not payable, or was re24 duced, by reason of section 1505, 5313, or 

25 5313B of title 38, United States Code; 


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1 (C) in the case of an individual entitled to 

2 a benefit specified in paragraph (1)(C) if, for 

3 such most recent month, such individual’s ben4 efit under such paragraph was not payable by 

5 reason of subsection (e)(1)(A) or (e)(4) of sec6 tion 1611 (42 U.S.C. 1382) or section 1129A 

7 of such Act (42 U.S.C. 1320a–8); 

8 (D) in the case of an individual who has 

9 been penalized under section 1129(a) of the So10 cial Security Act (42 U.S.C. 1320–8(a)); or 

11 (E) in the case of any individual whose 

12 date of death occurs before the date on which 

13 the individual is certified under subsection (b) 

14 to receive a payment under this section. 

15 (4) TIMING AND MANNER OF PAYMENTS.— 

16 (A) IN GENERAL.—The Secretary of the 

17 Treasury shall commence disbursing payments 

18 under this section at the earliest practicable 

19 date but in no event later than 120 days after 

20 the date of enactment of this Act. The Sec21 retary of the Treasury may disburse any pay22 ment electronically to an individual in such 

23 manner as if such payment was a benefit pay24 ment to such individual under the applicable 


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1 program described in subparagraph (B) or (C) 

2 of paragraph (1). 

3 (B) NOTICE.— 

4 (i) IN GENERAL.—The Secretary of 

5 the Treasury shall provide written notice, 

6 sent by mail to each individual receiving a 

7 payment under this section, explaining that 

8 the payment represents a one-time benefit 

9 increase to the benefit payment described 

10 in paragraph (1) to which the individual is 

11 entitled. 

12 (ii) PUBLIC NOTICE.—The Secretary 

13 of the Treasury, in consultation with the 

14 Commissioner of Social Security and the 

15 Secretary of Veterans Affairs, shall publish 

16 on a public website information about the 

17 payments authorized under this subsection, 

18 including— 

19 (I) information on eligibility for 

20 such payments; 

21 (II) information on the time22 frame in which such payments will be 

23 distributed; and 

24 (III) other relevant information. 


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1 (C) DEADLINE.—No payments shall be 

2 disbursed under this section after December 31, 

3 2016, regardless of any determinations of enti4 tlement to, or eligibility for, such payments 

5 made after such date. 

6 (b) IDENTIFICATION OF RECIPIENTS.—The Commis7 sioner of Social Security, the Railroad Retirement Board, 

8 and the Secretary of Veterans Affairs shall certify the in9 dividuals entitled to receive payments under this section 

10 and provide the Secretary of the Treasury with the infor11 mation needed to disburse such payments. A certification 

12 of an individual shall be unaffected by any subsequent de13 termination or redetermination of the individual’s entitle14 ment to, or eligibility for, a benefit specified in subpara15 graph (B) or (C) of subsection (a)(1). 

16 (c) TREATMENT OF PAYMENTS.— 

17 (1) PAYMENT TO BE DISREGARDED FOR PUR18 POSES OF ALL FEDERAL AND FEDERALLY ASSISTED

19 PROGRAMS.—A payment under subsection (a) shall 

20 not be regarded as income and shall not be regarded 

21 as a resource for the month of receipt and the fol22 lowing 9 months, for purposes of determining the 

23 eligibility of the recipient (or the recipient’s spouse 

24 or family) for benefits or assistance, or the amount 

25 or extent of benefits or assistance, under any FedVerDate Sep 11 2014 05:01 Nov 17, 2015 Jkt 059200 PO 00000 Frm 00009 Fmt 6652 Sfmt 6201 E:\BILLS\H4012.IH H4012

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1 eral program or under any State or local program fi2 nanced in whole or in part with Federal funds. 

3 (2) PAYMENT NOT CONSIDERED INCOME FOR

4 PURPOSES OF TAXATION.—A payment under sub5 section (a) shall not be considered as gross income 

6 for purposes of the Internal Revenue Code of 1986. 

7 (3) PAYMENTS PROTECTED FROM ASSIGN8 MENT.—The provisions of section 207 of the Social 

9 Security Act (42 U.S.C. 407) and section 14(a) of 

10 the Railroad Retirement Act of 1974 (45 U.S.C. 

11 231m(a)) shall apply to any payment made under 

12 subsection (a) as if such payment was a benefit pay13 ment to such individual under the applicable pro14 gram described in subsection (a)(1)(B). 

15 (4) TREATMENT UNDER SOCIAL SECURITY

16 ACT.— 

17 (A) NO EFFECT ON FAMILY MAXIMUM.— 

18 For purposes of section 203(a) of the Social Se19 curity Act (42 U.S.C. 403(a)), a payment under 

20 subsection (a) shall be disregarded in deter21 mining reductions in benefits under such sec22 tion. 

23 (B) PAYMENT NOT A GENERAL BENEFIT

24 INCREASE.—For purposes of section 215(i) of 

25 the Social Security Act (42 U.S.C. 415(i)), a 


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1 payment under subsection (a) shall not be re2 garded as a general benefit increase. 

3 (5) PAYMENTS SUBJECT TO RECLAMATION.— 

4 Any payment made under this section shall, in the 

5 case of a payment by direct deposit which is made 

6 after the date of the enactment of this Act, be sub7 ject to the reclamation provisions under subpart B 

8 of part 210 of title 31, Code of Federal Regulations 

9 (relating to reclamation of benefit payments). 

10 (d) PAYMENT TO REPRESENTATIVE PAYEES AND FI11 DUCIARIES.— 

12 (1) IN GENERAL.—In any case in which an in13 dividual who is entitled to a payment under sub14 section (a) and whose benefit payment or cash ben15 efit described in paragraph (1) of that subsection is 

16 paid to a representative payee or fiduciary, the pay17 ment under subsection (a) shall be made to the indi18 vidual’s representative payee or fiduciary and the en19 tire payment shall be used only for the benefit of the 

20 individual who is entitled to the payment. 

21 (2) APPLICABILITY.— 

22 (A) PAYMENT ON THE BASIS OF A TITLE

23 II BENEFIT OR SSI BENEFIT.—Section 

24 1129(a)(3) of the Social Security Act (42 

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1 ment made on the basis of an entitlement to a 

2 benefit specified in paragraph (1)(B)(i) or 

3 (1)(C) of subsection (a) in the same manner as 

4 such section applies to a payment under title II 

5 or XVI of such Act. 

6 (B) PAYMENT ON THE BASIS OF A RAIL7 ROAD RETIREMENT BENEFIT.—Section 13 of 

8 the Railroad Retirement Act (45 U.S.C. 231l) 

9 shall apply to any payment made on the basis 

10 of an entitlement to a benefit specified in para11 graph (1)(B)(ii) of subsection (a) in the same 

12 manner as such section applies to a payment 

13 under such Act. 

14 (C) PAYMENT ON THE BASIS OF A VET15 ERANS BENEFIT.—Sections 5502, 6106, and 

16 6108 of title 38, United States Code, shall 

17 apply to any payment made on the basis of an 

18 entitlement to a benefit specified in paragraph 

19 (1)(B)(iii) of subsection (a) in the same manner 

20 as those sections apply to a payment under that 

21 title. 

22 (e) PAYMENT AMOUNT.—The amount described in 

23 this subsection is the amount that is equal to 3.9 percent 

24 of the average amount of annual benefits received by an 

25 individual entitled to benefits under title II of the Social 


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1 Security Act (42 U.S.C. 401 et seq.) in calendar year 

2 2015, as determined by the Commissioner of Social Secu3 rity, rounded to the next lowest multiple of $1. 

4 (f) APPROPRIATION.—Out of any sums in the Treas5 ury of the United States not otherwise appropriated, the 

6 following sums are appropriated for the period of fiscal 

7 years 2016 through 2017, to remain available until ex8 pended, to carry out this section: 

9 (1) For the Secretary of the Treasury, such 

10 sums as may be necessary for administrative costs 

11 incurred in carrying out this section. 

12 (2) For the Commissioner of Social Security— 

13 (A) such sums as may be necessary for 

14 payments to individuals certified by the Com15 missioner of Social Security as entitled to re16 ceive a payment under this section; and 

17 (B) such sums as may be necessary to the 

18 Social Security Administration’s Limitation on 

19 Administrative Expenses for costs incurred in 

20 carrying out this section. 

21 (3) For the Railroad Retirement Board— 

22 (A) such sums as may be necessary for 

23 payments to individuals certified by the Rail24 road Retirement Board as entitled to receive a 

25 payment under this section; and 


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1 (B) such sums as may be necessary to the 

2 Railroad Retirement Board’s Limitation on Ad3 ministration for administrative costs incurred in 

4 carrying out this section. 

5 (4)(A) For the Secretary of Veterans Affairs— 

6 (i) such sums as may be necessary for the 

7 Compensation and Pensions account, for pay8 ments to individuals certified by the Secretary 

9 of Veterans Affairs as entitled to receive a pay10 ment under this section; and 

11 (ii) such sums as may be necessary for the 

12 Information Systems Technology account and 

13 the General Operating Expenses account for ad14 ministrative costs incurred in carrying out this 

15 section. 

16 (B) The Department of Veterans Affairs Com17 pensation and Pensions account shall hereinafter be 

18 available for payments authorized under subsection 

19 (a)(1)(A) to individuals entitled to a benefit payment 

20 described in subsection (a)(1)(B)(iii). 

21 SEC. 3. SPECIAL CREDIT FOR CERTAIN GOVERNMENT RE22 TIREES. 

23 (a) IN GENERAL.—In the case of an eligible indi24 vidual, there shall be allowed as a credit against the tax 

25 imposed by subtitle A of the Internal Revenue Code of 


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1 1986 for the first taxable year beginning in 2015 an 

2 amount equal to $581 ($1,162 in the case of a joint return 

3 where both spouses are eligible individuals). 

4 (b) ELIGIBLE INDIVIDUAL.— 

5 (1) IN GENERAL.—For purposes of this section, 

6 the term ‘‘eligible individual’’ means any indi7 vidual— 

8 (A) who receives during the first taxable 

9 year beginning in 2015 any amount as a pen10 sion or annuity for service performed in the em11 ploy of the United States or any State, or any 

12 instrumentality thereof, which is not considered 

13 employment for purposes of sections 3101(a) 

14 and 3111(a) of the Internal Revenue Code of 

15 1986, and 

16 (B) who does not receive a payment under 

17 section 2 during such taxable year. 

18 (2) IDENTIFICATION NUMBER REQUIREMENT.— 

19 (A) IN GENERAL.—The term ‘‘eligible indi20 vidual’’ shall not include any individual who 

21 does not include on the return of tax for the 

22 taxable year— 

23 (i) such individual’s social security ac24 count number, and 


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1 (ii) in the case of a joint return, the 

2 social security account number of one of 

3 the taxpayers on such return. 

4 (B) EXCLUSION OF TIN.—For purposes of 

5 subparagraph (A), the social security account 

6 number shall not include a TIN (as defined in 

7 section 7701(a)(41) of the Internal Revenue 

8 Code of 1986) issued by the Internal Revenue 

9 Service. Any omission of a correct social secu10 rity account number required under this para11 graph shall be treated as a mathematical or 

12 clerical error for purposes of applying section 

13 6213(g)(2) of such Code to such omission. 

14 (c) TREATMENT OF CREDIT.— 

15 (1) REFUNDABLE CREDIT.— 

16 (A) IN GENERAL.—The credit allowed by 

17 subsection (a) shall be treated as allowed by 

18 subpart C of part IV of subchapter A of chap19 ter 1 of the Internal Revenue Code of 1986. 

20 (B) APPROPRIATIONS.—For purposes of 

21 section 1324(b)(2) of title 31, United States 

22 Code, the credit allowed by subsection (a) shall 

23 be treated in the same manner as a refund 

24 from the credit allowed under section 36A of 

25 the Internal Revenue Code of 1986. 


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1 (2) DEFICIENCY RULES.—For purposes of ap2 plying section 6211(b)(4)(A) of the Internal Revenue 

3 Code of 1986, the credit allowable by subsection (a) 

4 shall be treated in the same manner as the credits 

5 listed in subparagraph (A) of section 6211(b)(4). 

6 (d) REFUNDS DISREGARDED IN THE ADMINISTRA7 TION OF FEDERAL PROGRAMS AND FEDERALLY AS8 SISTED PROGRAMS.—Any credit or refund allowed or 

9 made to any individual by reason of this section shall not 

10 be taken into account as income and shall not be taken 

11 into account as resources for the month of receipt and the 

12 following 2 months, for purposes of determining the eligi13 bility of such individual or any other individual for benefits 

14 or assistance, or the amount or extent of benefits or assist15 ance, under any Federal program or under any State or 

16 local program financed in whole or in part with Federal 

17 funds. 

18 SEC. 4. MODIFICATION OF LIMITATION ON EXCESSIVE RE19 MUNERATION. 

20 (a) REPEAL OF PERFORMANCE-BASED COMPENSA21 TION AND COMMISSION EXCEPTIONS FOR LIMITATION ON

22 EXCESSIVE REMUNERATION.— 

23 (1) IN GENERAL.—Paragraph (4) of section 

24 162(m) of the Internal Revenue Code of 1986 is 

25 amended by striking subparagraphs (B) and (C) and 


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1 by redesignating subparagraphs (D) through (G) as 

2 subparagraphs (B) through (E), respectively. 

3 (2) CONFORMING AMENDMENTS.— 

4 (A) Section 162(m)(5) of such Code is 

5 amended— 

6 (i) by striking ‘‘subparagraphs (B), 

7 (C), and (D) thereof’’ in subparagraph (E) 

8 and inserting ‘‘subparagraph (B) thereof’’, 

9 and 

10 (ii) by striking ‘‘subparagraphs (F) 

11 and (G)’’ in subparagraph (G) and insert12 ing ‘‘subparagraphs (D) and (E)’’. 

13 (B) Section 162(m)(6) of such Code is 

14 amended— 

15 (i) by striking ‘‘subparagraphs (B), 

16 (C), and (D) thereof’’ in subparagraph (D) 

17 and inserting ‘‘subparagraph (B) thereof’’, 

18 and 

19 (ii) by striking ‘‘subparagraphs (F) 

20 and (G)’’ in subparagraph (G) and insert21 ing ‘‘subparagraphs (D) and (E)’’. 

22 (b) EXPANSION OF APPLICABLE EMPLOYER.—Para23 graph (2) of section 162(m) of the Internal Revenue Code 

24 of 1986 is amended to read as follows: 


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1 ‘‘(2) PUBLICLY HELD CORPORATION.—For pur2 poses of this subsection, the term ‘publicly held cor3 poration’ means any corporation which is an issuer 

4 (as defined in section 3 of the Securities Exchange 

5 Act of 1934 (15 U.S.C. 78c))— 

6 ‘‘(A) the securities of which are registered 

7 under section 12 of such Act (15 U.S.C. 78l), 

8 or 

9 ‘‘(B) that is required to file reports under 

10 section 15(d) of such Act (15 U.S.C. 78o(d)).’’. 

11 (c) APPLICATION TO ALL CURRENT AND FORMER

12 OFFICERS, DIRECTORS, AND EMPLOYEES.— 

13 (1) IN GENERAL.—Section 162(m) of the Inter14 nal Revenue Code of 1986, as amended by sub15 section (a), is amended— 

16 (A) by striking ‘‘covered employee’’ each 

17 place it appears in paragraphs (1) and (4) and 

18 inserting ‘‘covered individual’’, and 

19 (B) by striking ‘‘such employee’’ each 

20 place it appears in subparagraphs (A) and (E) 

21 of paragraph (4) and inserting ‘‘such indi22 vidual’’. 

23 (2) COVERED INDIVIDUAL.—Paragraph (3) of 

24 section 162(m) of such Code is amended to read as 

25 follows: 


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1 ‘‘(3) COVERED INDIVIDUAL.—For purposes of 

2 this subsection, the term ‘covered individual’ means 

3 any individual who is an officer, director, or em4 ployee of the taxpayer or a former officer, director, 

5 or employee of the taxpayer.’’. 

6 (3) CONFORMING AMENDMENTS.— 

7 (A) Section 48D(b)(3)(A) of such Code is 

8 amended by inserting ‘‘(as in effect for taxable 

9 years beginning before January 1, 2015)’’ after 

10 ‘‘section 162(m)(3)’’. 

11 (B) Section 409A(b)(3)(D)(ii) of such 

12 Code is amended by inserting ‘‘(as in effect for 

13 taxable years beginning before January 1, 

14 2015)’’ after ‘‘section 162(m)(3)’’. 

15 (d) SPECIAL RULE FOR REMUNERATION PAID TO

16 BENEFICIARIES, ETC.—Paragraph (4) of section 162(m), 

17 as amended by subsection (a), is amended by adding at 

18 the end the following new subparagraph: 

19 ‘‘(F) SPECIAL RULE FOR REMUNERATION

20 PAID TO BENEFICIARIES, ETC.—Remuneration 

21 shall not fail to be applicable employee remu22 neration merely because it is includible in the 

23 income of, or paid to, a person other than the 

24 covered individual, including after the death of 

25 the covered individual.’’. 


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1 (e) REGULATORY AUTHORITY.— 

2 (1) IN GENERAL.—Section 162(m) of the Inter3 nal Revenue Code of 1986 is amended by adding at 

4 the end the following new paragraph: 

5 ‘‘(7) REGULATIONS.—The Secretary may pre6 scribe such guidance, rules, or regulations, including 

7 with respect to reporting, as are necessary to carry 

8 out the purposes of this subsection.’’. 

9 (2) CONFORMING AMENDMENT.—Paragraph (6) 

10 of section 162(m) of such Code is amended by strik11 ing subparagraph (H). 

12 (f) TRANSFER TO SOCIAL SECURITY TRUST

13 FUNDS.—For purposes of the amount of any increase in 

14 revenue to the Treasury by reason of the amendments 

15 made by this section, any such amount that is in excess 

16 of the total amount appropriated under section 2(f) of this 

17 Act shall be, at such times and in such manner as deter18 mined appropriate by the Secretary of the Treasury (or 

19 the Secretary’s delegate), deposited in the Trust Funds 

20 (as defined in subsection (c) of section 201 of the Social 

21 Security Act (42 U.S.C. 401)), with— 

22 (1) 50 percent of such amount to be deposited 

23 in the Federal Old-Age and Survivors Insurance 

24 Trust Fund (as defined in subsection (a) of such 

25 section); and 


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1 (2) 50 percent of such amount to be deposited 

2 in the Federal Disability Insurance Trust Fund (as 

3 defined in subsection (b) of such section). 

4 (g) EFFECTIVE DATE.—The amendments made by 

5 this section shall apply to taxable years beginning after 

6 December 31, 2015. 

Æ 


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