Page:United States Statutes at Large Volume 99 Part 1.djvu/1119

 PUBLIC LAW 99-177—DEC. 12, 1985

99 STAT. 1097

ning with December 7, 1985, and ending with the date of the enactment of this joint resolution, if the daily balance in such fund which the Secretary of the Treasury was requested to invest during such period but was unable to invest, because of the expiration of the temporary debt limit, had been invested each day during such period, overnight, in obligations under such chapter 31 earning interest at a rate determined by the Secretary of the Treasury in accordance with the standard practice of the Department of the Treasury. (2) EXPIRATION OF TEMPORARY DEBT LIMIT DEFINED.—For purposes of paragraph (1), the term "expiration of the temporary debt limit" means the expiration of the period described in section 1 of the Act entitled "An Act to temporarily increase the limit on the public debt and to restore the investments of the Social Security Trust Funds and other trust funds", approved November 14, 1985 (Public Law 99-155).

Ante, p. 814.

(d) ADDITIONAL APPROPRIATION TO O A S D I TRUST FUNDS OF INTEREST LOST FROM ACTIONS TAKEN I N SEPTEMBER AND OCTOBER

1984.— (1) IN GENERAL.—On December 31, 1985, the Secretary of the Treasury shall pay to the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund, from amounts in the general fund of the Treasury not otherwise appropriated, amounts determined under this subsection. (2) AMOUNT PAID TO EACH TRUST FUND.—The amount paid to each such Trust Fund pursuant to paragraph (1) shall be an amount determined jointly by the Secretary of the Treasury and the Secretary of Health and Human Services to be sufficient to fully compensate such Trust Fund for interest losses arising from the premature redemption, during the period beginning with September 1, 1984, and ending with October 31, 1984, of securities maturing during the period beginning with calendar year 1987 and ending with calendar year 1991. (3) LIMITATION.—The total amount paid from the general fund of the Treasury pursuant to paragraph (1) shall not exceed $550,000,000. (4) ADJUSTMENTS.— (A) DETERMINATION OF SHORTFALLS AND EXCESSES IN PAYMENTS TO TRUST FUNDS.—As soon as practicable after May

31, 1986, the Secretary of the Treasury and the Secretary of Health and Human Services shall jointly determine any shortfall or excess in the amount paid to each Trust Fund pursuant to paragraph (1) caused by— (i) the difference between actual interest rates and interest rates assumed for purposes of paragraph (1), and (ii) the difference between the actual amount of secu^' rities redeemed in January 1986 for purposes of compliance with section 201(1)(3)(B) of the Social Security Act 42 USC 401. and the amount of securities assumed for purposes of paragraph (1) to be redeemed in such month for purposes of compliance with such section. (B) PAYMENT OF SHORTFALLS AND EXCESSES.—On June 30, 1986, the Secretary of the Treasury shall— (i) in the case of a shortfall in the amount paid to either Trust Fund determined pursuant to subpara-

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