Page:United States Statutes at Large Volume 99 Part 1.djvu/1117

 PUBLIC LAW 99-177—DEC. 12, 1985

99 STAT. 1095

SEC. 272. RESTORATION OF TRUST FUND INVESTMENTS.

2 USC 901 note.

(a) RESTORATION OF SOCIAL SECURITY TRUST FUNDS AND CERTAIN OTHER FUNDS.—

(1) REISSUANCE OF OBLIGATIONS.—The Secretary of the Treas-

ury shall immediately reissue to each fund listed in paragraph (3) obligations under chapter 31 of title 31, United States Code, which are identical, with respect to interest rate and maturity, to public debt obligations held by such fund which— (A) were redeemed during the period beginning with September 1, 1985, and ending with September 29, 1985, and (B) as determined by such Secretary on the basis of standard investment procedures for such fund in effect on September 1, 1985, would not have been redeemed if H.J. Res. 372 (99th Congress, 1st Session), as deemed passed by the House of Representatives on August 1, 1985, had been enacted into law on August 1, 1985. Such obligations shall be substituted for obligations which are held by such fund on the date of the enactment of this joint resolution in a manner which will ensure that, after such substitution, the holdings of such fund will replicate to the maximum extent practicable the holdings which would have been held by such fund on such date if H.J. Res. 372 (99th Congress, 1st Session), as deemed passed by the House of Representatives on August 1, 1985, had been enacted into law on August 1, 1985.

3i use 3ioi e< seq.

Ante, p. 1037.

Ante, p. 1037.

(2) APPROPRIATION TO FUNDS OF INTEREST LOST ON OR AFTER

SEPTEMBER 1, 1985.—The Secretary of the Treasury shall pay on the normal interest payment date to each fund listed in paragraph (3), from amounts in the general fund of the Treasury not otherwise appropriated, an amount determined by such Secretary to be equal to the excess of^ (A) the net amount of interest which would have been earned by such fund, during the period beginning with September 1, 1985, and ending with the date of the enactment of this joint resolution, if all noninvestments, redemptions, and disinvestments with respect to such fund which— (i) occurred during such period, and (ii) would not have occurred if H.J. Res. 372 (99th Congress, 1st Session), as deemed passed by the House Ante, p. 1037. of Representatives on August 1, 1985, had been enacted into law on August 1, 1985, had not occurred, over (B) the net amount of interest actually earned by such fund during such period. (3) FUNDS AFFECTED.—The funds referred to in paragraphs (1) and (2) are the following: (A) the Federal Old-Age and Survivors Insurance Trust Fund, (B) the Federal Disability Insurance Trust Fund, (C) the Federal Hospital Insurance Trust Fund, (D) the Federal Supplementary Medical Insurance Trust Fund, (E) the Railroad Retirement Account, (F) the Civil Service Retirement and Disability Fund, and

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