Page:United States Statutes at Large Volume 68 Part 1.djvu/1094

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PUBLIC LAW 761-SEPT. 1, 1954

Ante. p. 1052.

Ante, p. 1054.

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.tifiii

1.,;

[68 S T A T.

taxable years ending after 1954. The amendments made by paragraphs (1), (2), and (3) of subsection (a) shall be applicable only with respect to remuneration paid after 1954. The amendments made by paragraphs (4), (5), and (6) of subsection (a) shall be applicable only with respect to services (whether performed after 1954 or prior to 1955) for which the remuneration is paid after 1954. The amendment made by paragraph (3) of subsection (c) shall become effective January 1, 1955. The other amendments made by this section (other than the amendments made by subsections (h), (i), (j) and (m) shall be applicable only with respect to services performed after 1954. For purposes of section 203 of the Social Security Act, the amendments made by paragraphs (1), (2),, and (4) of subsection (g) and by subsection (d) shall be effective with respect to net earnings from selfemployment derived after 1954. The amount of net earnings from self-employment derived during any taxable year ending in, and not with the close of, 1955 shall be credited equally to the calendar quarter in which such taxable year ends and to each of the three or fewer preceding quarters any part of which is in such taxable year; and, for purposes of the preceding sentence of this subsection, net earnings from self-employment so credited to calendar quarters in 1955 shall be deemed to have been derived after 1954. INCREASE IN BENEFIT AMOUNTS

42 USC 415.

gEc. 102. (a) Subsection (a) of section 215 of the Social Security Act is amended to read as follows: "PRIMARY INSURANCE AMOUNT

" (a)(1) The primary insurance amount of any individual (i) who 42 USC 402. (jogg J^Q|. become eligible for benefits under section 202(a) until after August 1954, or who dies after such month and without becoming eligible for benefits under such section 202(a), and (ii) with respect to whom not less than six of the quarters elapsing after 1950 are quarters of coverage, and the primary insurance amount of any indij! jfe vidual with respect to whom not less than six of the quarters elapsing after June 30, 1953, are quarters of coverage, shall be whichever of the following amounts is the larger: " (A) Fifty-five per centum of the first $110 of his average monthly wage, plus 20 per centum of the next $240; or Post, p. 1063. " (B) The amount determined under subsection (c). An individual shall, for purposes of this paragraph, be deemed eligible .. !.5s for benefits under section 202(a) for any month if he was or would have been, upon filing application therefor in such month, entitled to such benefits for such month. "(2) The primary insurance amount of any other individual shall Post. p. 1063. ijg ^l^g amount determined under subsection (c)." (b)(1) Paragraphs (1), (2), and (3) of subsection (b) of such section are amended to read as follows: Average monthly "(^^ ^ ^ individual's 'average monthly wage' shall be the quotient ^^^''' obtained by dividing the total of his wages and self-employment income after his starting date (determined under paragraph (2)) and prior to his closing date (determined under paragraph (3)), by the

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