S. 2752

A bill to amend titles II and XVIII of the Social Security Act to limit the service of a member of the Board of Trustees of the Federal Old-Age and Survivors Insurance Trust Fund, the Federal Disability Insurance Trust Fund, the Federal Hospital Insurance Trust Fund, or the Federal Supplementary Medical Insurance Trust Fund serving as a member of the public to one four-year term and to require the President to consult with the chairman and ranking member of the Committee on Finance of the Senate prior to nominating an individual to serve as such a member.

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II

109th CONGRESS

2d Session

S. 2752

IN THE SENATE OF THE UNITED STATES

May 4, 2006

Mr. Grassley (for himself and Mr. Baucus) introduced the following bill; which was read twice and referred to the Committee on Finance

A BILL

To amend titles II and XVIII of the Social Security Act to limit the service of a member of the Board of Trustees of the Federal Old-Age and Survivors Insurance Trust Fund, the Federal Disability Insurance Trust Fund, the Federal Hospital Insurance Trust Fund, or the Federal Supplementary Medical Insurance Trust Fund serving as a member of the public to one four-year term and to require the President to consult with the chairman and ranking member of the Committee on Finance of the Senate prior to nominating an individual to serve as such a member.

1.

Limitation to one four-year term of service for a member of the board of trustees of the social security or medicare trust funds serving as a member of the public and required consultation prior to nominating an individual to serve as such a member

(a)

Social Security Trust Funds

Section 201(c) of the Social Security Act (42 U.S.C. 401(c)) is amended—

(1)

in the first sentence, by inserting , after consultation with the chairman and ranking member of the Committee on Finance of the Senate, after President; and

(2)

by inserting after the first sentence the following new sentence: A member of the Board of Trustees serving as a member of the public may not serve more than one four-year term..

(b)

Medicare Trust Funds

(1)

Part A Trust Fund

Section 1817(b) of such Act (42 U.S.C. 1395i(b)) is amended—

(A)

in the first sentence, by inserting , after consultation with the chairman and ranking member of the Committee on Finance of the Senate, after President; and

(B)

by inserting after the first sentence the following new sentence: A member of the Board of Trustees serving as a member of the public may not serve more than one four-year term..

(2)

Part B Trust Fund

Section 1841(b) of such Act (42 U.S.C. 1395t(b)) is amended—

(A)

in the first sentence, by inserting , after consultation with the chairman and ranking member of the Committee on Finance of the Senate, after President; and

(B)

by inserting after the first sentence the following new sentence: A member of the Board of Trustees serving as a member of the public may not serve more than one four-year term..

(c)

Effective date

The amendments made by this section take effect on the date of enactment of this Act and shall apply to confirmations and appointments of members of the Board of Trustees of the Federal Old-Age and Survivors Insurance Trust Fund, the Federal Disability Insurance Trust Fund, the Federal Hospital Insurance Trust Fund, or the Federal Supplementary Medical Insurance Trust Fund serving as a member of the public occurring on or after that date.