I

107TH CONGRESS

1ST SESSION H. R. 1068

To redesignate the Federal Old-Age and Survivors Insurance Trust Fund

and the Federal Disability Insurance Trust Fund as the Federal OldAge and Survivors Insurance Accounting Fund and the Federal Disability

Insurance Accounting Fund, respectively.

IN THE HOUSE OF REPRESENTATIVES

MARCH 15, 2001

Mr. DEMINT introduced the following bill; which was referred to the

Committee on Ways and Means

A BILL

To redesignate the Federal Old-Age and Survivors Insurance

Trust Fund and the Federal Disability Insurance Trust

Fund as the Federal Old-Age and Survivors Insurance

Accounting Fund and the Federal Disability Insurance

Accounting Fund, respectively.

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 The Act may be cited as the ‘‘Straighter Talk on So5 cial Security Act of 2001’’.
2

•HR 1068 IH

1 SEC. 2. REDESIGNATION OF SOCIAL SECURITY TRUST

2 FUNDS.

3 The Federal Old-Age and Survivors Insurance Trust

4 Fund and the Federal Disability Insurance Trust Fund

5 are hereby redesignated as the ‘‘Federal Old-Age and Sur6 vivors Insurance Accounting Fund’’ and the ‘‘Federal Dis7 ability Insurance Accounting Fund’’, respectively.

8 SEC. 3. CONFORMING AMENDMENTS TO THE SOCIAL SECU9 RITY ACT.

10 (a) IN GENERAL.—Sections 201, 202, 206, 215, 217,

11 221, 222, 228, 229, 703, 706, 709, 710, 1106, 1129,

12 1131, 1140, 1145, 1147, 1817, and 1840 of the Social

13 Security Act (42 U.S.C. 401, 402, 406, 415, 417, 421,

14 422, 428, 429, 903, 907, 910, 911, 1306, 1320a–8,

15 1320b–1, 1320b–10, 1320b–15, 1320b–17, 1395i, and

16 1395s) are each amended (in the text and in the headings)

17 by striking ‘‘Federal Old-Age and Survivors Insurance

18 Trust Fund’’ and ‘‘Federal Disability Insurance Trust

19 Fund’’ each place they appear and inserting ‘‘Federal Old20 Age and Survivors Insurance Accounting Fund’’ and

21 ‘‘Federal Disability Insurance Accounting Fund’’, respec22 tively.

23 (b) CONFORMING AMENDMENTS.—Sections 201,

24 215, 217, 221, 222, 229, 231, 234, 706, 709, 1110, and

25 1148 of such Act (42 U.S.C. 401, 415, 417, 421, 422,

26 429, 431, 434, 907, 910, 1310, and 1320b–18) are each
3

•HR 1068 IH

1 amended (in the text and in the headings) by striking

2 ‘‘Trust Funds’’ and ‘‘trust funds’’ each place they appear

3 and inserting ‘‘Funds’’.

4 SEC. 4. OTHER CONFORMING AMENDMENTS.

5 (a) IN GENERAL.—The following provisions are

6 amended by striking ‘‘Federal Old-Age and Survivors In7 surance Trust Fund’’ and ‘‘Federal Disability Insurance

8 Trust Fund’’ each place they appear and inserting ‘‘Fed9 eral Old-Age and Survivors Insurance Accounting Fund’’

10 and ‘‘Federal Disability Insurance Accounting Fund’’, re11 spectively:

12 (1) sections 3121 and 6402 of the Internal Rev13 enue Code of 1986;

14 (2) section 7 of the Railroad Retirement Act of

15 1974 (45 U.S.C. 231f);

16 (3) section 8331 of title 5, United States Code;

17 and

18 (4) sections 3720A and 3806 of title 31, United

19 States Code.

20 (b) ADDITIONAL AMENDMENT.—Section 405 of the

21 Congressional Budget Act of 1974 (2 U.S.C. 655) is

22 amended by striking ‘‘the Federal Old-Age and Survivors

23 Insurance and Federal Disability Insurance Trust Funds’’

24 and inserting ‘‘the Federal Old-Age and Survivors Ac-
4

•HR 1068 IH

1 counting Fund and the Federal Disability Insurance Ac2 counting Fund’’.

3 SEC. 5. RULE OF CONSTRUCTION.

4 Whenever any reference is made in any provision of

5 law, regulation, rule, record, or document to the Federal

6 Old-Age and Survivors Insurance Trust Fund or the Fed7 eral Disability Insurance Trust Fund, such reference shall

8 be considered a reference to the Federal Old-Age and Sur9 vivors Accounting Fund or the Federal Disability Insur10 ance Accounting Fund, respectively.

Æ