SENIORS Act of 2015

To provide for a one-time supplementary payment to beneficiaries of Social Security and Veterans benefits, and for other purposes. 1. Short title This Act may be cited as the Saving the Earnings and Noting the Investment of Our Retired Seniors Act of 2015 SENIORS Act of 2015 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. 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 (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 45 U.S.C. 231m(a) (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) (B) Payment not a general benefit increase For purposes of section 215(i) of the Social Security Act ( 42 U.S.C. 415(i) (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) (B) Payment on the basis of a railroad retirement benefit Section 13 of the Railroad Retirement Act ( 45 U.S.C. 231l (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). 4. Offsets (a) Rescission of funds in U.S. Enrichment Corporation Fund All balances under United States Enrichment Corporation Fund (b) Social security number required To claim the refundable portion of the child tax credit (1) In general Section 24(d) (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 Identification requirement (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 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.

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.