S.Amdt. 966
What it does: Adds SEC. ____. RESTORATION OF FEDERAL HOSPITAL INSURANCE TRUST FUND at the appropriate place in title VI
Sen. Larry E. Craig (R-ID)What it changes
1 change to S. 1
Adds SEC. ____. RESTORATION OF FEDERAL HOSPITAL INSURANCE TRUST FUND at the appropriate place in title VI
Adds a sectionInserted: SEC. ____. RESTORATION OF FEDERAL HOSPITAL INSURANCE TRUST FUND.
Inserted: (a) Definitions.--In this section:
Inserted: (1) Clerical error.--The term "clerical error" means the failure that occurred on April 15, 2001, to have transferred the correct amount from the general fund of the Treasury to the Trust Fund.
Inserted: (2) Trust fund.--The term "Trust Fund" means the Federal Hospital Insurance Trust Fund established under section 1817 of the Social Security Act (42 U.S.C. 1395i).
Inserted: (b) Correction of Trust Fund Holdings.--
Inserted: (1) In general.--Not later than 120 days after the date of enactment of this Act, the Secretary of the Treasury shall take the actions described in paragraph (2) with respect to the Trust Fund with the goal being that, after such actions are taken, the holdings of the Trust Fund will replicate, to the extent practicable in the judgment of the Secretary of the Treasury, in consultation with the Secretary of Health and Human Services, the holdings that would have been held by the Trust Fund if the clerical error had not occurred.
Inserted: (2) Obligations issued and remedied.--The Secretary of the Treasury shall--
Inserted: (A) issue to the Trust Fund obligations under chapter 31 of title 31, United States Code, that bear issue dates, interest rates, and maturity dates that are the same as those for the obligations that--
Inserted: (i) would have been issued to the Trust Fund if the clerical error had not occurred; or
Inserted: (ii) were issued to the Trust Fund and were redeemed by reason of the clerical error; and
Inserted: (B) redeem from the Trust Fund obligations that would have been redeemed from the Trust Fund if the clerical error had not occurred.
Inserted: (c) Appropriation.--Not later than 120 days after the date of enactment of this Act, there is appropriated to the Trust Fund, out of any money in the Treasury not otherwise appropriated, an amount determined by the Secretary of the Treasury, in consultation with the Secretary of Health and Human Services, to be equal to the interest income lost by the Trust Fund through the date on which the appropriation is being made as a result of the clerical error.
The amendment doesn't say where this goes; the clerk decides.
Original wording
At the appropriate place in title VI, insert the following:
Read automatically from the Congressional Record. Check the original before relying on it.
As printed
SA 966. Mr. CRAIG submitted an amendment intended to be proposed by him to the bill S. 1, to amend title XVIII of the Social Security Act to make improvements in the medicare program, to provide prescription drug coverage under the medicare program, and for other purposes; as follows:
At the appropriate place in title VI, insert the following:
SEC. ____. RESTORATION OF FEDERAL HOSPITAL INSURANCE TRUST FUND.
(a) Definitions.--In this section:
(1) Clerical error.--The term “clerical error” means the failure that occurred on April 15, 2001, to have transferred the correct amount from the general fund of the Treasury to the Trust Fund.
(2) Trust fund.--The term “Trust Fund” means the Federal Hospital Insurance Trust Fund established under section 1817 of the Social Security Act (42 U.S.C. 1395i).
(b) Correction of Trust Fund Holdings.--
(1) In general.--Not later than 120 days after the date of enactment of this Act, the Secretary of the Treasury shall take the actions described in paragraph (2) with respect to the Trust Fund with the goal being that, after such actions are taken, the holdings of the Trust Fund will replicate, to the extent practicable in the judgment of the Secretary of the Treasury, in consultation with the Secretary of Health and Human Services, the holdings that would have been held by the Trust Fund if the clerical error had not occurred.
(2) Obligations issued and remedied.--The Secretary of the Treasury shall--
(A) issue to the Trust Fund obligations under chapter 31 of title 31, United States Code, that bear issue dates, interest rates, and maturity dates that are the same as those for the obligations that--
(i) would have been issued to the Trust Fund if the clerical error had not occurred; or
(ii) were issued to the Trust Fund and were redeemed by reason of the clerical error; and
(B) redeem from the Trust Fund obligations that would have been redeemed from the Trust Fund if the clerical error had not occurred.
(c) Appropriation.--Not later than 120 days after the date of enactment of this Act, there is appropriated to the Trust Fund, out of any money in the Treasury not otherwise appropriated, an amount determined by the Secretary of the Treasury, in consultation with the Secretary of Health and Human Services, to be equal to the interest income lost by the Trust Fund through the date on which the appropriation is being made as a result of the clerical error.
Legislative Activity
Stay on top of the latest movement without scrolling through every action
Senate amendment submitted
June 20, 2003