Page:United States Statutes at Large Volume 97.djvu/462

 97 STAT. 430 PUBLIC LAW 98-76—AUG. 12, 1983 prior estimates were in excess of or were less than the amounts required to be transferred. (c) TRANSFERS TO RAILROAD UNEMPLOYMENT FUND AFTER LOANS REPAID. —If— (1) the amount which (but for this subsection) would be trans- ferred to the Railroad Retirement Account under subsection (a), exceeds— (2) the outstanding balance of railroad unemployment loans (as of the time of such transfer), such transfer (to the extent it exceeds such outstanding balance) shall be made to the Railroad Unemployment Account. (d) DEFINITIONS.— For purposes of this section— (1) ADDITIONAL RAILROAD UNEMPLOYMENT TAXES. — The term "additional railroad unemployment taxes" means the taxes Ante, p. 426. imposed by chapter 23A of the Internal Revenue Code of 1954. (2) RAILROAD UNEMPLOYMENT ACCOUNT. —The term "Railroad Unemployment Account" means the railroad unemployment insurance account in the unemployment trust fund established 42 USC 1104. pursuant to section 904 of the Social Security Act. (3) RAILROAD UNEMPLOYMENT LOANS. —The term "railroad unemployment loans" means transfers under section 10(d) of 45 USC 360. the Railroad Unemployment Insurance Act from the Railroad Retirement Account to the Railroad Unemployment Account. The outstanding balance of such loans shall include any interest required to be paid under such section 10(d). PART II—TAXATION OF SICK PAY PAID UNDER RAILROAD UNEMPLOYMENT INSURANCE ACT SEC. 241. TAXATION OF SICK PAY PAID UNDER RAILROAD UNEMPLOY- MENT INSURANCE ACT. (a) GENERAL RULE. —Section 105 of the Internal Revenue Code of 26 USC 105. 1954 (relating to amounts received under accident and health plans) is amended by adding at the end thereof the following new subsec- tion: "(i) SICK PAY UNDER RAILROAD UNEMPLOYMENT INSURANCE ACT.— Notwithstanding any other provision of law, gross income includes benefits paid under section 2(a) of the Railroad Unemployment 45 USC 352. Insurance Act for days of sickness; except to the extent such sick- ness (as determined in accordance with standards prescribed by the Railroad Retirement Board) is the result of on-the-job injury." 26 USC 105 note. (b) EFFECTIVE DATE.— The amendment made by subsection (a) shall apply to amounts received after December 31, 1983, in taxable years ending after such date. TITLE III—BORROWING AUTHORITY ADJUSTMENTS 45 USC 23lf. SEC 301. (a) Section 7(c) of the Railroad Retirement Act of 1974 is amended by adding at the end thereof the following new subdivision: "(4) After the end of each month beginning with the month of October 1983, the Board shall determine the net amount, if any, which if added to or subtracted from the Federal Old-Age and Survivors Insurance Trust Fund, the Federal Disability Insurance Trust Fund, and the Federal Hospital Insurance Trust Fund would, with respect to such month, place those Trust Funds, taken as a whole, in the same position in which they would have been if (A)

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