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42 U.S.C. § 911 — Budgetary treatment of trust fund operations

submitted 91 years ago by Pub. L. 98-21 to r/title-42-THE-PUBLIC-HEALTH-AND-WELFARE · 153 words · no verdicts yet

in plain englishAI-generated · not legal advice

This section excludes specified Social Security trust-fund receipts, payments, and taxes from Federal and congressional budget totals and general budget limits. It also bars later laws from transferring money between the general Treasury fund and those trust funds, with one appropriation exception.

(a) Receipts and payments of the Federal Old-Age and Survivors Insurance Trust Fund and Federal Disability Insurance Trust Fund, and taxes under Internal Revenue Code sections 1401 and 3101, are not included in the President’s United States budget totals or the congressional budget. They are exempt from general statutory limits on Federal expenditures and net lending. (b) Except for an appropriation Act appropriating funds authorized under this chapter as it existed December 12, 1985, no law enacted after that date may provide payments from the Treasury’s general fund to a trust fund in (a), or from such a trust fund to the general fund.
the actual law source: uscode.house.gov ↗public domain
(a)

The receipts and disbursements of the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund and the taxes imposed under sections 1401 and 3101 of the Internal Revenue Code of 1986 shall not be included in the totals of the budget of the United States Government as submitted by the President or of the congressional budget and shall be exempt from any general budget limitation imposed by statute on expenditures and net lending (budget outlays) of the United States Government.

(b)

No provision of law enacted after December 12, 1985 (other than a provision of an appropriation Act that appropriated funds authorized under this chapter as in effect on December 12, 1985) may provide for payments from the general fund of the Treasury to any Trust Fund specified in subsection (a) or for payments from any such Trust Fund to the general fund of the Treasury.

Source credit: (Aug. 14, 1935, ch. 531, title VII, § 710, as added and amended Pub. L. 98–21, title III, § 346(a)(1), (b), Apr. 20, 1983, 97 Stat. 137, 138; Pub. L. 99–177, title II, § 261(a)(1), (b), Dec. 12, 1985, 99 Stat. 1093, 1094; Pub. L. 105–33, title X, § 10209(c), Aug. 5, 1997, 111 Stat. 711.)

history & why it existsrecord from the source credit
  • 1935Enacted · Pub. L. 98-21 · 97 Stat. 137, 138
  • 1985Amended · Pub. L. 99-177 · 99 Stat. 1093, 1094
  • 1997Amended · Pub. L. 105-33 · 111 Stat. 711

A history note hasn’t been published yet. The record shows enactment by Pub. L. 98-21 on 1935-08-14.

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