I 
108TH CONGRESS 
1ST SESSION 
H. R. 96
To amend title II of the Social Security Act to ensure the integrity of 
the Social Security trust funds by requiring the Managing Trustee to 
invest the annual surplus of such trust funds in marketable interest-
bearing obligations of the United States and certificates of deposit in 
depository institutions insured by the Federal Deposit Insurance Corpora-
tion, and to protect such trust funds from the public debt limit. 
IN THE HOUSE OF REPRESENTATIVES 
JANUARY 7, 2003
Mr. HALL introduced the following bill; which was referred to the Committee 
on Ways and Means 
A BILL 
To amend title II of the Social Security Act to ensure the 
integrity of the Social Security trust funds by requiring 
the Managing Trustee to invest the annual surplus of 
such trust funds in marketable interest-bearing obliga-
tions of the United States and certificates of deposit 
in depository institutions insured by the Federal Deposit 
Insurance Corporation, and to protect such trust funds 
from the public debt limit.
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Social Security Preser-
vation Act of 2003’’. 
SEC. 2. INVESTMENT OF THE FEDERAL OLD-AGE AND SUR-
VIVORS INSURANCE TRUST FUND AND THE 
FEDERAL 
DISABILITY 
INSURANCE 
TRUST 
FUND. 
(a) IN GENERAL.—Section 201(d) of the Social Secu-
rity Act (42 U.S.C. 401(d)) is amended—
(1) by inserting ‘‘(1)’’ after ‘‘(d)’’; 
(2) by striking ‘‘Such investments may be made 
only’’ and inserting the following: ‘‘Except as pro-
vided in paragraph (2), such investments may be 
made only’’; 
(3) by striking the last sentence; and 
(4) by adding at the end the following new 
paragraph: 
‘‘(2)(A) The Managing Trustee shall determine the 
annual surplus (as defined in subparagraph (B)) for each 
of the Trust Funds as of the end of each fiscal year. The 
Managing Trustee shall ensure that such annual surplus 
is invested, throughout the next following fiscal year, in—
‘‘(i) marketable interest-bearing obligations of 
the United States or obligations guaranteed as to 
both principal and interest by the United States,
purchased on original issue or at the market price, 
or 
‘‘(ii) certificates of deposit in insured depository 
institutions (as defined in section 3(c)(2) of the Fed-
eral Deposit Insurance Act). 
‘‘(B) For purposes of this paragraph, the ‘annual sur-
plus’ for either of the Trust Funds as of the end of a 
fiscal year is the excess (if any) of—
‘‘(i) the sum of—
‘‘(I) in the case of the Federal Old-Age 
and Survivors Insurance Trust Fund, the 
amounts appropriated to such Trust Fund 
under paragraphs (3) and (4) of subsection (a) 
for the fiscal year, 
‘‘(II) in the case of the Federal Disability 
Insurance Trust Fund, the amounts appro-
priated to such Trust Fund under paragraphs 
(1) and (2) of subsection (b) for the fiscal year, 
and 
‘‘(III) in either case, the amount appro-
priated to such Trust Fund under section 
121(e) of the Social Security Amendments of 
1983 for the fiscal year, and any amounts oth-
erwise credited to or deposited in such Trust 
Fund under this title for the fiscal year, over