Sec. 303. Real property acquired by the Trust Funds
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Section 201(g) of the Social Security Act ( 42 U.S.C. 401(g) ) is amended by adding at the end the following: Notwithstanding any other provision of law, for any real property acquired using funds derived from the Trust Funds— the Managing Trustee shall record such property as an asset of the Trust Fund from which such funds were derived; any net proceeds from the disposition of such property sold at any time shall be deposited in such Trust Fund, to be invested by the Managing Trustee in the same manner and to the same extent as the other assets of such Trust Fund; and the use of such real property shall be restricted to purposes of carrying out the duties of the Commissioner as authorized by this Act and any other Federal law. .
Section 201(g)(5) of the Social Security Act ( 42 U.S.C. 401(g)(5) ), as added by subsection (a), is further amended by adding at the end the following: Funds made available for expenditure pursuant to the authorization in this subsection may not be used for the operation and maintenance of real property in amounts that exceed the actual costs of such operation and maintenance, including any amounts for overhead, space and services, repair, replacement, or depreciation. For purposes of this subparagraph, funds made available for the replacement of the National Computer Center shall be deemed to be funds made available as described in clause (i). .
Section 201(c) of the Social Security Act ( 42 U.S.C. 401(c) ) is amended by inserting after the second sentence in the matter following paragraph
(5)the following: Such statement of assets shall include an estimate of the fair market value of all real property recorded as an asset of the Trust Funds at the end of the preceding fiscal year. . The amendments made by subsection
(a)shall apply with respect to real property acquired using funds solely derived from the Trust Funds and disposed of on, before, or after the date of enactment of this Act.
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Sec. 303
Real property acquired by the Trust Funds
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