[Congressional Bills 106th Congress]
[From the U.S. Government Publishing Office]
[H.R. 863 Introduced in House (IH)]







106th CONGRESS
  1st Session
                                H. R. 863

   To require appropriate off-budget treatment of Social Security in 
                    official budget pronouncements.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           February 25, 1999

     Mr. Herger (for himself, Mr. Minge, Mr. Bass, Mr. Peterson of 
  Minnesota, Mr. Smith of Michigan, Mr. Gutknecht, Mr. Franks of New 
   Jersey, Mr. Hoekstra, Mr. Ballenger, Mr. Thomas, Mr. McCrery, Ms. 
 Woolsey, Mr. Crane, and Mr. Campbell) introduced the following bill; 
 which was referred to the Committee on the Budget, and in addition to 
   the Committee on Ways and Means, 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 require appropriate off-budget treatment of Social Security in 
                    official budget pronouncements.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Social Security Budgeting and 
Investment Act of 1999''.

SEC. 2. REMOVING SOCIAL SECURITY FROM BUDGET PRONOUNCEMENTS.

    Any official statement issued by the Office of Management and 
Budget, the Congressional Budget Office, or any other agency or 
instrumentality of the Federal Government of surplus or deficit totals 
of the budget of the United States Government as submitted by the 
President or of the surplus or deficit totals of the congressional 
budget, and any description of, or reference to, such totals in any 
official publication or material issued by either of such Offices or 
any other such agency or instrumentality, shall exclude the outlays and 
receipts of the old-age, survivors, and disability insurance program 
under title II of the Social Security Act (including the Federal Old-
Age and Survivors Insurance Trust Fund and the Federal Disability 
Insurance Trust Fund) and the related provisions of the Internal 
Revenue Code of 1986.

SEC. 3. EFFECTIVE DATE.

    The provisions of section 2 shall apply with respect to fiscal year 
2000 and subsequent fiscal years, except that the exclusion required 
under section 2 with respect to receipts shall apply--
            (1) for fiscal year 2000, only with respect to the excess 
        of total receipts over receipts consisting of interest earned 
        on investments of the Trust Funds referred to in section 2, and
            (2) for fiscal year 2001, only with respect to the excess 
        of total receipts over 50 percent of receipts consisting of 
        interest earned on investments of such Trust Funds.
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