HR 857 105th Congress House Social Welfare Certificates of deposit Congress Congressional oversight Congressional reporting requirements Debt limit Economics and Public Finance Finance and Financial Sector Government securities Government trust funds Interest Investment of public funds Old age, survivors and disability insurance Public debt Social security finance

Social Security Preservation Act of 1997

Introduced: February 27, 1997 See on congress.gov

Everywhere this bill has been 10 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Sep 16, 1998

Sponsor introductory remarks on measure. (CR H7898)

Jun 23, 1998

Sponsor introductory remarks on measure. (CR H5044-5052)

May 14, 1998

Sponsor introductory remarks on measure. (CR H3301)

Apr 21, 1998

Sponsor introductory remarks on measure. (CR H2080-2088)

Mar 18, 1998

Sponsor introductory remarks on measure. (CR H1289-1291)

Feb 26, 1998

Sponsor introductory remarks on measure. (CR H662-670)

Jan 27, 1998

Sponsor introductory remarks on measure. (CR H23-28)

Mar 5, 1997

Referred to the Subcommittee on Social Security.

Feb 27, 1997

Referred to the House Committee on Ways and Means.

Feb 27, 1997

Introduced in House

Plain-English summary Congressional Research Service

Social Security Preservation Act of 1997 - Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act to require the Managing Trustee of the Board of Trustees of the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund (trust funds) to ensure that the annual surplus of the trust funds is invested in: (1) marketable interest-bearing obligations of the United States or obligations guaranteed by the United States; or (2) certificates of deposit in insured depository institutions. Outlines provisions for determining the annual surplus of the trust funds.

Prohibits disinvestment of trust fund amounts from public debt obligations, any refraining from making such investments, or any delay in making normal deposits in such trust funds for public debt limit-related purposes. Authorizes the sale of trust fund public debt obligations for the payment of cash benefits and administrative expenses, with conditions, including notification to each House of Congress and the Comptroller General at least three days in advance of such sale.

What's happening now September 16, 1998

Sponsor introductory remarks on measure. (CR H7898)

Committees of jurisdiction 2