To provide for an annual statement of accrued liability of the Old-Age and Survivors Insurance Program.

Amends Federal budget law to require the President, in the annual budget submission to the Congress, to include a statement of the current accrued liabilities of the Federal Government for future benefits under the Old Age and Survivors Insurance Program (title II of the Social Security Act).

[Congressional Bills 106th Congress]
[From the U.S. Government Publishing Office]
[H.R. 244 Introduced in House (IH)]







106th CONGRESS
  1st Session
                                H. R. 244

To provide for an annual statement of accrued liability of the Old-Age 
                    and Survivors Insurance Program.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            January 6, 1999

 Mr. Sanford introduced the following bill; which was referred to the 
                        Committee on the Budget

_______________________________________________________________________

                                 A BILL


 
To provide for an annual statement of accrued liability of the Old-Age 
                    and Survivors Insurance Program.

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

SECTION 1. ANNUAL STATEMENT OF ACCRUED LIABILITY OF THE OLD-AGE AND 
              SURVIVORS INSURANCE PROGRAM.

    (a) In General.--Section 1105(a) of title 31, United States Code 
(relating to budget contents and submission to Congress), is amended by 
adding at the end the following new paragraph:
            ``(31) a statement of the current accrued liabilities of 
        the Federal Government for future benefit payments under the 
        Old-Age and Survivors Insurance Program under title II of the 
        Social Security Act.''.
    (b) Effective Date.--The amendment made by subsection (a) shall 
apply with respect to budgets submitted for fiscal years beginning on 
or after October 1, 1999.
                                 <all>