3.0.0 4896 2023-01-11T13:15:28Z 2023-01-11T13:15:28Z House H HR 2007-12-19 110 hswm00 Ways and Means Committee House Standing hswm01 Social Security Subcommittee Referred to 2007-12-20T19:56:17Z Referred to 2007-12-19T15:09:50Z 2007-12-20 hswm01 Social Security Subcommittee 1 House committee actions Referred to the Subcommittee on Social Security. Committee 2007-12-19 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2007-12-19 Introduced in House IntroReferral Intro-H 9 Library of Congress 2007-12-19 Introduced in House IntroReferral 1000 9 Library of Congress G000552 Rep. Gohmert, Louie [R-TX-1] Louie Gohmert R TX 1 N Social Welfare Economics and Public Finance Finance and Financial Sector Government trust funds Investment of public funds Law Old age, survivors and disability insurance Securities Social security finance Trusts and trustees Social Welfare 00 2007-12-19 Introduced in House 2008-02-04T21:05:42Z Social Security Trust Funds Investment Act of 2007 - Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act to revise the duty of the Board of Trustees of the Social Security Trust Funds is to hold the Funds. Specifies that it is a duty to hold the Funds in trust for the beneficiaries and to ensure that the assets of the Funds are not diverted.

Authorizes investment of the Funds in securities that are not limited to obligations of the United States or obligations guaranteed as to principal and interest by the United States. Allows investment in such other securities as the Board of Trustees may consider prudent investments.

Requires the Board of Trustees to exercise the judgment and care under the circumstances then prevailing that persons of ordinary prudence, discretion, and intelligence exercise in the management of their own affairs, not in regard to speculation, but in regard to the permanent disposition of their funds, considering the probable income as well as the probable safety of their capital.

]]> Social Security Trust Funds Investment Act of 2007 Display Title Social Security Trust Funds Investment Act of 2007 Short Titles as Introduced Social Security Trust Funds Investment Act of 2007 Official Title as Introduced To amend title II of the Social Security Act to provide that a duty of the Board of Trustees of the Social Security Trust funds is to hold them in trust for the beneficiaries and to ensure that the assets of such trust funds are not diverted, and to authorize investment of such trust funds in securities that are not limited to obligations of the United States or obligations guaranteed as to principal and interest by the United States. Introduced in House 2007-12-19T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-110hr4896ih/xml/BILLS-110hr4896ih.xml 2007-12-20 Referred to the Subcommittee on Social Security. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.