§ 1320b–15. Protection of social security and medicare trust funds

233 words·~1 min read·/usc/title-42/section-1320b-15

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No officer or employee of the United States shall— delay the deposit of any amount into (or delay the credit of any amount to) any Federal fund or otherwise vary from the normal terms, procedures, or timing for making such deposits or credits, refrain from the investment in public debt obligations of amounts in any Federal fund, or redeem prior to maturity amounts in any Federal fund which are invested in public debt obligations for any purpose other than the payment of benefits or administrative expenses from such Federal fund.

For purposes of this section, the term “public debt obligation” means any obligation subject to the public debt limit established under section 3101 of title 31 . For purposes of this section, the term “Federal fund” means— the Federal Old-Age and Survivors Insurance Trust Fund; the Federal Disability Insurance Trust Fund; the Federal Hospital Insurance Trust Fund; and the Federal Supplementary Medical Insurance Trust Fund. ( Aug. 14, 1935, ch. 531 , title XI, § 1145, as added Pub. L. 104–121, title I, § 107(a) , Mar. 29, 1996 , 110 Stat. 856 .)

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Public Law 104–121
To provide for enactment of the Senior Citizens’ Right to Work Act of 1996, the Line Item Veto Act, and the Small Business Growth and Fairness Act of 1996, and to provide for a permanent increase in the public debt limit

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Pub. L. 104-121
110 Stat. 856
110 Stat. 857

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§ 1320b–15

Protection of social security and medicare trust funds

Stat.×1

Pub. L.Pub. L. 104-121

Stat.110 Stat. 856

Stat.110 Stat. 857

Cites 3Cited by 1 across 1 source