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

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Placed on Calendar Senate (06/10/1999)

 
[Congressional Bills 106th Congress]
[From the U.S. Government Printing Office]
[H.R. 1259 Placed on Calendar Senate (PCS)]

                                                       Calendar No. 152
106th CONGRESS
  1st Session
                                H. R. 1259


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                 June 8 (legislative day, June 7), 1999

                                Received

                             June 10, 1999

             Read twice and ordered placed on the calendar

_______________________________________________________________________

                                 AN ACT


 
    To amend the Congressional Budget Act of 1974 to protect Social 
     Security surpluses through strengthened budgetary enforcement 
                              mechanisms.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Social Security and Medicare Safe 
Deposit Box Act of 1999''.

SEC. 2. FINDINGS AND PURPOSE.

    (a) Findings.--The Congress finds that--
            (1) the Congress and the President joined together to enact 
        the Balanced Budget Act of 1997 to end decades of deficit 
        spending;
            (2) strong economic growth and fiscal discipline have 
        resulted in strong revenue growth into the Treasury;
            (3) the combination of these factors is expected to enable 
        the Government to balance its budget without the Social 
        Security surpluses;
            (4) the Congress has chosen to allocate in this Act all 
        Social Security surpluses toward saving Social Security and 
        Medicare;
            (5) amounts so allocated are even greater than those 
        reserved for Social Security and Medicare in the President's 
        budget, will not require an increase in the statutory debt 
        limit, and will reduce debt held by the public until Social 
        Security and Medicare reform is enacted; and
            (6) this strict enforcement is needed to lock away the 
        amounts necessary for legislation to save Social Security and 
        Medicare.
    (b) Purpose.--It is the purpose of this Act to prohibit the use of 
Social Security surpluses for any purpose other than reforming Social 
Security and Medicare.

SEC. 3. PROTECTION OF SOCIAL SECURITY SURPLUSES.

    (a) Points of Order To Protect Social Security Surpluses.--Section 
312 of the Congressional Budget Act of 1974 is amended by adding at the 
end the following new subsection:
    ``(g) Points of Order To Protect Social Security Surpluses.--
            ``(1) Concurrent resolutions on the budget.--It shall not 
        be in order in the House of Representatives or the Senate to 
        consider any concurrent resolution on the budget, or conference 
        report thereon or amendment thereto, that would set forth an 
        on-budget deficit for any fiscal year.
            ``(2) Subsequent Legislation.--It shall not be in order in 
        the House of Representatives or the Senate to consider any 
        bill, joint resolution, amendment, motion, or conference report 
        if--
                    ``(A) the enactment of that bill or resolution as 
                reported;
                    ``(B) the adoption and enactment of that amendment; 
                or
                    ``(C) the enactment of that bill or resolution in 
                the form recommended in that conference report,
        would cause or increase an on-budget deficit for any fiscal 
        year.
            ``(3) Exception.--The point of order set forth in paragraph 
        (2) shall not apply to Social Security reform legislation or 
        Medicare reform legislation as defined by section 5(c) of the 
        Social Security and Medicare Safe Deposit Box Act of 1999.
            ``(4) Definition.--For purposes of this section, the term 
        `on-budget deficit', when applied to a fiscal year, means the 
        deficit in the budget as set forth in the most recently agreed 
        to concurrent resolution on the budget pursuant to section 
        301(a)(3) for that fiscal year.''.
    (b) Content of Concurrent Resolution on the Budget.--Section 301(a) 
of the Congressional Budget Act of 1974 is amended by redesignating 
paragraphs (6) and (7) as paragraphs (7) and (8), respectively, and by 
inserting after paragraph (5) the following new paragraph:
            ``(6) the receipts, outlays, and surplus or deficit in the 
        Federal Old-Age and Survivors Insurance Trust Fund and the 
        Federal Disability Insurance Trust Fund, combined, established 
        by title II of the Social Security Act;''.
    (c) Super Majority Requirement.--(1) Section 904(c)(1) of the 
Congressional Budget Act of 1974 is amended by inserting ``312(g),'' 
after ``310(d)(2),''.
    (2) Section 904(d)(2) of the Congressional Budget Act of 1974 is 
amended by inserting ``312(g),'' after ``310(d)(2),''.

SEC. 4. REMOVING SOCIAL SECURITY FROM BUDGET PRONOUNCEMENTS.

    (a) In General.--Any official statement issued by the Office of 
Management and Budget, the Congressional Budget Office, or any other 
agency or instrumentality of the Federal Government of surplus or 
deficit totals of the budget of the United States Government as 
submitted by the President or of the surplus or deficit totals of the 
congressional budget, and any description of, or reference to, such 
totals in any official publication or material issued by either of such 
Offices or any other such agency or instrumentality, shall exclude the 
outlays and receipts of the old-age, survivors, and disability 
insurance program under title II of the Social Security Act (including 
the Federal Old-Age and Survivors Insurance Trust Fund and the Federal 
Disability Insurance Trust Fund) and the related provisions of the 
Internal Revenue Code of 1986.
    (b) Separate Social Security Budget Documents.--The excluded 
outlays and receipts of the old-age, survivors, and disability 
insurance program under title II of the Social Security Act shall be 
submitted in separate Social Security budget documents.

SEC. 5. EFFECTIVE DATE.

    (a) In General.--This Act shall take effect upon the date of its 
enactment and the amendments made by this Act shall apply only to 
fiscal year 2000 and subsequent fiscal years.
    (b) Expiration.--Sections 301(a)(6) and 312(g) shall expire upon 
the enactment of Social Security reform legislation and Medicare reform 
legislation.
    (c) Definitions.--
            (1) Social security reform legislation.--The term ``Social 
        Security reform legislation'' means a bill or a joint 
        resolution that is enacted into law and includes a provision 
        stating the following: ``For purposes of the Social Security 
        and Medicare Safe Deposit Box Act of 1999, this Act constitutes 
        Social Security reform legislation.''.
            (2) The term ``Medicare reform legislation'' means a bill 
        or a joint resolution that is enacted into law and includes a 
        provision stating the following: ``For purposes of the Social 
        Security and Medicare Safe Deposit Box Act of 1999, this Act 
        constitutes Medicare reform legislation.''.

            Passed the House of Representatives May 26, 1999.

            Attest:

                                                 JEFF TRANDAHL,

                                                                 Clerk.
                                                       Calendar No. 152

106th CONGRESS

  1st Session

                               H. R. 1259

_______________________________________________________________________

                                 AN ACT

    To amend the Congressional Budget Act of 1974 to protect Social 
     Security surpluses through strengthened budgetary enforcement 
                              mechanisms.

                             June 10, 1999

             Read twice and ordered placed on the calendar