120 STAT. 3482
PUBLIC LAW 109–465—DEC. 22, 2006
Public Law 109–465 109th Congress An Act Dec. 22, 2006 [S. 4091] Social Security Trust Funds Restoration Act of 2006.
To provide authority for restoration of the Social Security Trust Funds from the effects of a clerical error, and for other purposes.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE.
This Act may be cited as the ‘‘Social Security Trust Funds Restoration Act of 2006’’. SEC. 2. DEFINITIONS.
For purposes of this Act— (1) CLERICAL ERROR.—The term ‘‘clerical error’’ means the bookkeeping errors at the Social Security Administration that resulted in the overpayment of amounts transferred from the Trust Funds to the general fund of the Treasury during the period commencing with 1999 and ending with 2005 as transfers, under the voluntary withholding program authorized by section 3402(p) of the Internal Revenue Code of 1986, of anticipated taxes on benefit payments under title II of the Social Security Act. (2) SECRETARY.—The term ‘‘Secretary’’ means the Secretary of the Treasury. (3) TRUST FUNDS.—The term ‘‘Trust Funds’’ means the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund. SEC. 3. RESTORATION OF TRUST FUNDS.
(a) APPROPRIATION.—There is hereby appropriated to each of the Trust Funds, out of any money in the Treasury not otherwise appropriated, an amount determined by the Secretary, in consultation with the Commissioner of Social Security, to be equal, to the extent practicable in the judgment of the Secretary, to the difference between— (1) the sum of— (A) the amounts that the Secretary determines, in consultation with the Commissioner of Social Security, were overpaid from such Trust Fund to the general fund of the Treasury by reason of the clerical error, and (B) the amount that the Secretary determines, in consultation with the Commissioner of Social Security, to be equal, to the extent practicable in the judgment of the Secretary, to the interest income that would have been payable to such Trust Fund pursuant to section 201(d) of the Social Security Act on obligations issued under
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