S25 ENR: To ensure that the reduced annual cost-of-living adjustment to the retired pay of members and former members of the Armed Forces under the age of 62 required by the Bipartisan Budget Act of 2013 will not apply to members or former members who first became members prior to January 1, 2014, and for other purposes. U.S. Senate 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.

One Hundred Thirteenth Congress of the United States of America2d SessionBegun and held at the City of Washington on Friday, the third day of January, two thousand and fourteenS. 25IN THE SENATE OF THE UNITED STATESAN ACTTo ensure that the reduced annual cost-of-living adjustment to the retired pay of members and former members of the Armed Forces under the age of 62 required by the Bipartisan Budget Act of 2013 will not apply to members or former members who first became members prior to January 1, 2014, and for other purposes.

1.

Extension of direct spending reduction for fiscal year 2024

Paragraph (6)(B) of section 251A of the Balanced Budget and Emergency Deficit Control Act of 1985 (2 U.S.C. 901a) is amended by striking and for fiscal year 2023 and by inserting , for fiscal year 2023, and for fiscal year 2024.

2.

Inapplicability of reduced annual adjustment of retired pay for members of the Armed Forces under the age of 62 under the Bipartisan Budget Act of 2013 who first became members prior to January 1, 2014

(a)

In general

Section 1401a(b)(4) of title 10, United States Code, as added by section 403(a) of the Bipartisan Budget Act of 2013 (Public Law 113–67) and amended by section 10001 of the Department of Defense Appropriations Act, 2014 (Public Law 113–76), is amended by adding at the end the following new subparagraph:(G)

Members covered

This paragraph applies to a member or former member of an armed force who first became a member of a uniformed service on or after January 1, 2014..(b)

Effective date

The amendment made by subsection (a) shall take effect on December 1, 2015, immediately after the coming into effect of section 403 of the Bipartisan Budget Act of 2013 and the amendments made by that section.

3.

Transitional Fund for Sustainable Growth Rate (SGR) Reform

Section 1898 of the Social Security Act (42 U.S.C. 1395iii) is amended—(1)by amending the heading to read as follows: transitional fund for sustainable growth rate (SGR) reform;(2)by amending subsection (a) to read as follows:(a)

Establishment

The Secretary shall establish under this title a Transitional Fund for Sustainable Growth Rate (SGR) Reform (in this section referred to as the Fund) which shall be available to the Secretary to provide funds to pay for physicians’ services under part B to supplement the conversion factor under section 1848(d) for 2017 if the conversion factor for 2017 is less than conversion factor for 2013.;(3)in subsection (b)(1), by striking during— and all that follows and inserting during or after 2017, $2,300,000,000.; and(4)in subsection (b)(2), by striking from the Federal and all that follows and inserting from the Federal Supplementary Medical Insurance Trust Fund..

Speaker of the House of RepresentativesVice President of the United States and President of the Senate