PUBLIC LAW 98-21 —APR. 20, 1983 97 STAT. 99 Effective date. 42 USC 401 note. the Managing Trustee in the same manner and to the same extent as the other assets of the Trust Fund; and the Trust Fund shall pay interest to the general fund on the amount so transferred on the first day of any month at a rate (calculated on a daily basis, and applied against the difference between the amount so transferred on such first day and the amount which would have been transferred to the Trust Fund up to that day under the procedures in effect on January 1, 1983) equal to the rate earned by the investments of the Trust Fund in the same month under subsection (c).". (c) The amendments made by this section shall become effective on the first day of the month following the month in which this Act is enacted. INTERFUND BORROWING EXTENSION SEC. 142. (a)(1) Section 201(1)(1) of the Social Security Act is 42 USC 40i amended— (A) by striking out "January 1983" and inserting in lieu thereof "January 1988"; and (B) by inserting after "or" the second place it appears ", subject to paragraph (5),". (2)(A) Section 201(1)(2) of such Act is amended— (i) by striking out "from time to time" and inserting in lieu thereof "on the last day of each month after such loan is made"; (ii) by striking out "interest" and inserting in lieu thereof "the total interest accrued to such day"; and (iii) by inserting before the period at the end thereof the following: "(even if such an investment would earn interest at a rate different than the rate earned by investments redeemed by the lending fund in order to make the loan)". (B) The amendment made by this paragraph shall apply with respect to months beginning more than thirty days after the date of enactment of this Act. (3) Section 201(1)(3) of such Act is amended— (A) by inserting "(A)" after the paragraph designation; and (B) by adding at the end thereof the following new subpara- graphs: "(B)(i) If on the last day of any year after a loan has been made under paragraph (1) by the Federal Hospital Insurance Trust Fund to the Federal Old-Age and Survivors Trust Fund or the Federal Disability Insurance Trust Fund, the Managing Trustee determines that the OASDI trust fund ratio exceeds 15 percent, he shall trans- fer from the borrowing Trust Fund to the Federal Hospital Insur- ance Trust Fund an amount that— "(I) together with any amounts transferred from another borrowing Trust Fund under this paragraph for such year, will reduce the OASDI trust fund ratio to 15 percent; and "(II) does not exceed the outstanding balance of such loan. "(ii) Amounts required to be transferred under clause (i) shall be transferred on the last day of the first month of the year succeeding the year in which the determination described in clause (i) is made, "(iii) For purposes of this subparagraph, the term 'OASDI trust fund ratio' means, with respect to any calendar year, the ratio of— "(I) the combined balance in the Federal Old-Age and Survi- vors Insurance Trust Fund and the Federal Disability Insurance Trust Fund, as of the last day of such calendar year, to "(II) the amount estimated by the Secretary to be the total amount to be paid from the Federal Old-Age and Survivors Effective date. 42 USC 401 note.
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