§ 910. Recommendations by Board of Trustees to remedy inadequate balances in Social Security trust funds

Legislative history

Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.

1. 1935

   Pub. L. 98–21 title I § 143 · 97 Stat. 65

   Enacted · 42 U.S.C. § 910

   Aug. 14, 1935, ch. 531, title VII, § 709, as added Pub. L. 98–21, title I, § 143, Apr. 20, 1983, 97 Stat. 102

   Source evidence

   Code source credit
   Aug. 14, 1935, ch. 531, title VII, § 709, as added Pub. L. 98–21, title I, § 143, Apr. 20, 1983, 97 Stat. 102

   Enacted provision · exact public law section
   Sec. 143. Title VII of the Social Security Act is amended by adding at the end thereof the following new section: recommendations by board of trustees to remedy inadequate balances in the social security trust funds “Sec. 709. (a) If the Board of Trustees of the Federal Old-Age and Report to Congress. 42 USC 910. Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund, the Federal Hospital Insurance Trust Fund, or the Federal Supplementary Medical Insurance Trust Fund determines at any time that the balance ratio of any such Trust Fund for any calendar year may become less than 20 percent, the Board shall promptly submit to each House of the Congress a report setting forth its recommendations for statutory adjustments affecting the receipts and disbursements of such Trust Fund necessary to maintain the balance ratio of such Trust Fund at not less than 20 percent, with due regard to the economic conditions which created such inadequacy in the balance ratio and the amount of time necessary to alleviate such inadequacy in a prudent manner. The report shall set forth specifically the extent to which benefits would have to be reduced, taxes under section 1401, 3101, or 3111 of the Internal Revenue Code of 1954 would have to be increased, or a 26 USC 1401, 3101, 3111. combination thereof, in order to obtain the objectives referred to in the preceding sentence. “(b) For purposes of this section, the term ‘balance ratio’ means, “Balance ratio.” with respect to any calendar year in connection with any Trust Fund referred to in subsection (a), the ratio of— “(1) the balance in such Trust Fund, reduced by the outstanding amount of any loan (including interest thereon) theretofore made to such Trust Fund under section 201(1) or 1817(j), as of 42 USC 401, 1395i. the beginning of such year, to “(2) the total amount which (as estimated by the Secretary) will be paid from such Trust Fund during such calendar year for all purposes authorized by section 201, 1817, or 1841 (as applicable), 42 USC 1395t. other than payments of interest on, or repayments of, loans under section 201(1) or 1817(j), but excluding any transfer payments between such Trust Fund and any other Trust Fund referred to in subsection (a) and reducing the amount of any transfers to the Railroad Retirement Account by the amount of any transfers into such Trust Fund from that Account.”.

2. 1986

   Consolidated Omnibus Budget Reconciliation Act of 1985

   Pub. L. 99–272 title XII § 12106 · 100 Stat. 82

   Amended · 42 U.S.C. § 910(b)(1)

   Pub. L. 99–272 amended par. (1) generally. Prior to amendment, par. (1) read as follows: “the balance in such Trust Fund, reduced by the outstanding amount of any loan (including interest thereon) theretofore made to such Trust Fund under section 401(l) or 1395i(j) of this title, as of the beginning of such year, to”

   Source evidence

   Code amendment note
   Subsec. (b)(1). Pub. L. 99–272 amended par. (1) generally. Prior to amendment, par. (1) read as follows: “the balance in such Trust Fund, reduced by the outstanding amount of any loan (including interest thereon) theretofore made to such Trust Fund under section 401(l) or 1395i(j) of this title, as of the beginning of such year, to”.

   Enacted provision · exact public law section
   SEC. 12106. FORMULA CLARIFICATION. 42 USC 910. Section 709(b)(1) of the Social Security Act is amended to read as follows: “(1) the balance in such Trust Fund as of the beginning of 42 USC 401. such year, including the taxes transferred under section 201(a) on the first day of such year and reduced by the outstanding amount of any loan (including interest thereon) theretofore 42 USC 1395i. made to such Trust Fund under section 201(1) or 1817(j), to”.

3. 1986

   Tax Reform Act of 1986

   Pub. L. 99–514 § 2 · 100 Stat. 2085

   Substituted · 42 U.S.C. § 910(a)

   Pub. L. 99–514 substituted “Internal Revenue Code of 1986” for “Internal Revenue Code of 1954”

   Source evidence

   Code amendment note
   Subsec. (a). Pub. L. 99–514 substituted “Internal Revenue Code of 1986” for “Internal Revenue Code of 1954”.

   Enacted provision · exact public law section
   SEC. 2. INTERNAL REVENUE CODE OF 1986. (a) Redesignation of 1954 Code.— The Internal Revenue Title enacted August 16, 1954, as heretofore, hereby, or hereafter amended, may be cited as the “Internal Revenue Code of 1986”. (b) References in Laws, Etc.— Except when inappropriate, any reference in any law, Executive order, or other document— (1) to the Internal Revenue Code of 1954 shall include a reference to the Internal Revenue Code of 1986, and (2) to the Internal Revenue Code of 1986 shall include a reference to the provisions of law formerly known as the Internal Revenue Code of 1954.

4. 1994

   Pub. L. 103–296 title I § 108(a)(3) · 108 Stat. 1464

   Substituted · 42 U.S.C. § 910(b)(2)

   Pub. L. 103–296 substituted “(for amounts which will be paid from the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund, as estimated by the Commissioner, and for amounts which will be paid from the Federal Hospital Insurance Trust and the Federal Supplementary Medical Insurance Trust Fund, as estimated by the Secretary)” for “(as estimated by the Secretary)”

   Source evidence

   Code amendment note
   Subsec. (b)(2). Pub. L. 103–296 substituted “(for amounts which will be paid from the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund, as estimated by the Commissioner, and for amounts which will be paid from the Federal Hospital Insurance Trust and the Federal Supplementary Medical Insurance Trust Fund, as estimated by the Secretary)” for “(as estimated by the Secretary)”.

   Enacted provision · exact public law section
   (a) Amendments to Title VII.— (1) Title VII of the Social Security Act (42 U.S.C. 901 et seq.) is amended by adding at the end the following new section:

   Effective date note
   Amendment by Pub. L. 103–296 effective Mar. 31, 1995, see section 110(a) of Pub. L. 103–296, set out as a note under section 401 of this title.

4 of 4 references resolved to an enrolled provision