S.1387 - Supplemental Security Income Restoration Act of 2015114th Congress (2015-2016)
|Sponsor:||Sen. Brown, Sherrod [D-OH] (Introduced 05/19/2015)|
|Committees:||Senate - Finance|
|Latest Action:||Senate - 05/19/2015 Read twice and referred to the Committee on Finance. (All Actions)|
This bill has the status Introduced
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Summary: S.1387 — 114th Congress (2015-2016)All Information (Except Text)
Introduced in Senate (05/19/2015)
Supplemental Security Income Restoration Act of 2015
Amends title XVI (Supplemental Security Income) (SSI) of the Social Security Act (SSA) to increase from $240 to $1,344 (increased for inflation each calendar year after 2016) the first amount of general income per year excluded in determining SSI program eligibility.
Increases from $780 to $4,368 (similarly increased) the first amount of earned income similarly excluded (including for a blind or disabled individual or spouse under age 65).
Sets at: (1) $15,000 in calendar year 2016 (increased for inflation) the resource limit for couples, and (2) $10,000 in calendar year 2016 (similarly increased) the resource limit for individuals without a spouse.
Prescribes an inflation adjustment in benefits in any calendar year after 2016.
Removes support and maintenance furnished in kind from determination of unearned income.
Repeals the administrative penalty which renders individuals (and spouses) ineligible for SSI for a certain period of time if after the look-back date (usually 36 months preceding their application for SSI) they dispose of their resources for less than market value.