102 STAT. 698
PUBLIC LAW 100-360—JULY 1, 1988 (1) not later than July 1 of such calendar year, the Secretary of the Treasury or his delegate shall make an announcement of the estimated supplemental premium rate under section 59B of the Internal Revenue Code of 1986 for taxable years beginning in the following calendar year, and (2) not later than October 1 of such calendar year, the Secretary of the Treasury or his del^ate shall make an announcement of the actual supplemental premium rate under such section for such taxable years.
26 USC 59B note.
(e) EFFECTIVE D A T E. —
(1) IN GENERAL.—The amendments made by this section shall apply to taxable years beginning after December 31, 1988. (2) WAIVER OF ESTIMATED TAX REQUIREMENT FOR YEARS BEGIN-
NING IN 1989.—In the case of a taxable year beginning in 1989, the premium imposed by section 59B of the Internal Revenue Code of 1986 (as added by this section) shall not be treated as a tax for purposes of applying section 6654 of such Code. SEC. 112. ESTABLISHMENT OF FEDERAL HOSPITAL INSURANCE CATASTROPHIC COVERAGE RESERVE FUND.
(a) IN GENERAL.—Part A of title X V m is amended by inserting after section 1817 the following new section: "FEDERAL HOSPITAL INSURANCE CATASTROPHIC COVERAGE RESERVE FUND
42 USC i395i-ia.
"SBC. 1817A. (a)(1) There is hereby created on the books of the Treasury of the United States a trust fund to be known as the 'Federal Hospital Insurance Catastrophic Coverage Reserve Fund' (in this section referred to as the 'Reserve Fund'). The Reserve Fund shall consist of such gifts and bequests as may be made as provided in section 201(i)(l) and amounts appropriated under paragraph (2). "(2) There are hereby appropriated to the Reserve Fund, from the supplemental premiums imposed by section 59B of the Internal Revenue Code of 1986 attributable to the supplemental catastrophic premium rate, amounts equivalent to 100 percent of the amount of outlays made under this part attributable to the amendments made by the Medicare Cllatastrophic 0}verage Act of 1988. The amounts appropriated by the preceding sentence shall be transferred from time to time (not less frequently than monthly) from the general fund in the Treasury to the Reserve Fund, such amounts to be determined on the basis of estimates by the Secretary of the Treasury of the premiums, specified in the preceding sentence, paid to or deposited into the Treasury and on the basis of outla3rs, specified in the previous sentence, made; and proper adjustments shall be made in amounts subsequently transferred to the extent prior estimate were in excess of or were less than the appropriate amounts specified in such sentence. At the close of each year, the transfers under this subsection shall reflect all premiums (described in this paragraph) paid or deposited into the Treasury in the year. "(3) With respect to monies transferred to the Reserve Fund, no transfers, authorizations of appropriations, or appropriations are permitted. "(b) l l i e provisions of subsections (b) through (e) of section 1817 shall apply to the Reserve Fund in the same manner as they apply to the FedercQ Hospital Insurance Trust Fund, except that the Board of Trustees and Managing Trustee of the Reserve Fund shall be composed of the members of the Board of Trustees and the Manag-
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