Page:United States Statutes at Large Volume 97.djvu/465

 PUBLIC LAW 98-76—AUG. 12, 1983 97 STAT. 433 45 USC 231b, 231c. 45 USC 231 note. 45 USC 231f. Loans. TITLE IV—OTHER BENEFIT-RELATED AMENDMENTS SEC. 401. (a) Section 15(d) of the Railroad Retirement Act of 1974 is 45 USC 23ln amended— (1) by inserting "(1)" after "(d)"; (2) by striking out "one-twelfth of the amount which the Board has determined will be the amount of the appropriation to be made to the Dual Benefits Payments Account under the applicable public law making such appropriation for such fiscal year, and the Secretary of the Treasury shall make such trans- fer." from the third sentence and inserting in lieu thereof the following: "the amount that the Board estimates will be neces- sary to pay on the first day of the next succeeding month the annuity amounts under sections 8(h), 4(e), and 4(h) of this Act and under sections 204(a)(3), 204(a)(4), 206(3), and 207(3) of Public Law 93-445, taking into account any reduction in such annuity amounts as determined under section 7(c)(1) of this Act, and the Secretary of the Treasury shall make such transfer, but at no time shall the total amount of money outstanding to the Dual Benefits Payments Account from the Railroad Retirement Account exceed the amount necessary to pay the annuity amounts under sections 3(h), 4(e), and 4(h) of this Act and sections 204(a)(3), 204(a)(4), 206(3), and 207(3) of Public Law 93- 445 for one month."; (3) in the fourth sentence, by inserting "or during" after "prior to"; and (4) by adding at the end the following new subdivisions: "(2) The Secretary of the Treasury— "(i) shall transfer from the general fund as a loan to the Board on January 1, 1984, one-third of the special amount described in subdivision (3) of this subsection; "(ii) shall transfer from the general fund as a loan to the Board on January 1, 1985, one-third of the special amount described in subdivision (3) of this subsection, plus an amount equal to the interest that one-third would have earned had it been in the Railroad Retirement Account since January 1, 1984; and "(iii) shall transfer from the general fund as a loan to the Board on January 1, 1986, the final one-third of the special amount described in subdivision (3) of this subsection, plus an amount equal to the interest that one-third would have earned had it been in the Railroad Retirement Account since Janu- ary 1, 1984. "(3) The special amount referred to in subdivision (2) of this subsection is the amount which, as of January 1, 1984, would place the Railroad Retirement Account in the same position it would have been on that date if no annuity amounts had been paid during the period beginning January 1, 1975 and ending September 30, 1981, under sections 3(h), 4(e), and 4(h) of this Act and under sections 204(a)(3), 204(a)(4), 206(3), and 207(3) of Public Law 93-445, and no sums had been appropriated as authorized in section 15(d) of this Act. "(4) For the purposes of subdivision (2) of this subsection, the Secretary of the Treasury is authorized to use as a public debt transaction the proceeds of the sale of any securities issued after the date of the enactment of the Railroad Retirement Solvency Act of 1983 under section 3102 of title 31 of the United States Code and the Ante, p. 411. 96 Stat. 938.

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