I

106TH CONGRESS

1ST SESSION H. R. 2039

To restore actuarial balance to the Social Security trust funds.

IN THE HOUSE OF REPRESENTATIVES

JUNE 8, 1999

Mr. STARK introduced the following bill; which was referred to the Committee

on Ways and Means, and in addition to the Committee on the Budget,

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 restore actuarial balance to the Social Security trust

funds.

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 ‘‘Social Security Finan5 cial Solvency Act of 1999’’.
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1 SEC. 2. ADDITIONAL ASSETS FOR THE SOCIAL SECURITY

2 TRUST FUNDS.

3 (a) TRANSFERS TO FEDERAL OLD-AGE AND SUR4 VIVORS INSURANCE TRUST FUND AND FEDERAL DIS5 ABILITY INSURANCE TRUST FUND.—

6 (1) IN GENERAL.—In addition to the amounts

7 otherwise appropriated to the Federal Old-Age and

8 Survivors Insurance Trust Fund and the Federal

9 Disability Insurance Trust Fund for each fiscal year

10 after fiscal year 1998, there is hereby appropriated

11 to such Funds in the aggregate for each such fiscal

12 year an amount equal to 2.07 percent of the taxable

13 social security payroll for the calendar year that be14 gins in such fiscal year.

15 (2) TAXABLE SOCIAL SECURITY PAYROLL.—The

16 term ‘‘taxable social security payroll’’ means the ag17 gregate wages and self-employment income which

18 are taken into account in determining the amount

19 appropriated to the funds under section 201 of the

20 Social Security Act.

21 (b) OTHER DEFINITIONS AND SPECIAL RULES.—For

22 purposes of this section—

23 (1) WAGES; SELF-EMPLOYMENT INCOME.—The

24 terms ‘‘wages’’ and ‘‘self-employment income’’ have

25 the respective meanings given to such terms by sec-
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1 tions 3121 and 1402 of the Internal Revenue Code

2 of 1986.

3 (2) TIMING OF TRANSFERS; USE OF ESTI4 MATES.—

5 (A) IN GENERAL.—Except as provided in

6 subparagraph (B), the amount appropriated by

7 this section for any fiscal year to any fund shall

8 be transferred ratably (but not less frequently

9 than monthly) throughout such year on the

10 basis of the most recent estimate made by the

11 Secretary of the Treasury before the beginning

12 of such fiscal year of the amount of the taxable

13 social security payroll for the calendar year

14 which begins during such fiscal year. Proper

15 adjustments shall be made in the amounts sub16 sequently transferred to the extent prior esti17 mates were in excess of or less than the

18 amounts required to be transferred.

19 (B) SPECIAL RULE FOR PRE-ENACTMENT

20 PERIODS.—Amounts required under subpara21 graph (A) to be transferred for periods of cal22 endar year 1999 before the date of the enact23 ment of this Act shall be transferred on such

24 date.
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1 (3) ALLOCATION OF APPROPRIATIONS BE2 TWEEN SOCIAL SECURITY TRUST FUNDS.—The

3 amount appropriated by subsection (a) for any fiscal

4 year shall be allocated between the Federal Old-Age

5 and Survivors Insurance Trust Fund and the Fed6 eral Disability Insurance Trust Fund in proportion

7 to the Secretary of the Treasury’s estimate of the

8 respective amounts appropriated to such Funds

9 under section 201 of the Social Security Act for

10 such fiscal year. Proper adjustments shall be made

11 in the amounts subsequently allocated to the extent

12 prior estimates were in excess of or less than the ac13 tual amounts appropriated under such section 201.

14 (c) COORDINATION WITH BUDGET LAWS.—The pro15 visions of this section on transfers shall be disregarded

16 for the purposes of applying the enforcement provisions

17 of the Balanced Budget and Emergency Deficit Control

18 Act of 1985.

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