Summary: H.R.1259 — 106th Congress (1999-2000)All Information (Except Text)

Bill summaries are authored by CRS.

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Passed House amended (05/26/1999)

Social Security and Medicare Safe Deposit Box Act of 1999 - Amends the Congressional Budget Act of 1974 to provide a point of order in the House or the Senate against consideration of any concurrent budget resolution or conference report or amendment pertaining thereto that would set forth an on-budget deficit for any fiscal year.

Makes it out of order in the House or the Senate to consider any bill, joint resolution, amendment, motion, or conference report if the enactment of the reported bill or resolution, the adoption and enactment of an amendment, or the enactment of a bill or resolution in the form recommended in the conference report would cause or increase an on-budget deficit for any fiscal year. Makes such point of order inapplicable to social security or Medicare reform legislation (defined as legislation enacted into law that specifies that it is reform legislation for purposes of this Act).

Includes the receipts, outlays, and surplus or deficit in the Federal Old-Age and Survivors and Disability Insurance Trust Funds within the content of the concurrent budget resolution.

Authorizes a waiver or suspension in the Senate of points of order under this Act only with a three-fifths majority. Requires the same majority to sustain an appeal on a ruling on such points of order.

Requires any official Federal Government statement of the Federal or congressional budget surplus or deficit totals to exclude the outlays and receipts of the Old-Age, Survivors, and Disability Insurance Program under the Social Security Act. Requires such outlays and receipts to be submitted in separate social security budget documents.

Terminates the point of order and budget resolution content amendments made by this Act upon enactment of social security and Medicare reform legislation.