REPEAL OF SUPPLEMENTAL MEDICARE PREMIUM AND FEDERAL HOSPITAL INSURANCE CATASTROPHIC COVERAGE RESERVE FUND.

SEC. 102. REPEAL OF SUPPLEMENTAL MEDICARE PREMIUM AND FEDERAL HOSPITAL INSURANCE CATASTROPHIC COVERAGE RESERVE FUND. (a) In General.—Sections 111 and 112 of MCCA are repealed and the provisions of law amended by such sections are restored or revived as if such sections had not been enacted. 103 STAT. 1981 (b) Delay in Study Deadline.—Section 113(c) of MCCA is amended by striking “November 30, 1988” and inserting “May 31, 1990”. (c) Disposal of Funds in Federal Hospital Insurance Catastrophic Coverage Reserve Fund.—Any balance in the Federal Hospital Insurance Catastrophic Coverage Reserve Fund (created under section 1817A(a) of the Social Security Act, as inserted by section 112(a) of MCCA) as of January 1, 1990, shall be transferred into the Federal Supplementary Medical Insurance Trust Fund and any amounts payable due to overpayments into such Trust Fund shall be payable from the Federal Supplementary Medical Insurance Trust Fund. (d) Effective Dates.— (1) In general.—Except as provided in this subsection, the provisions of this section shall take effect January 1, 1990. (2) Repeal of supplemental medicare premium.—The repeal of section 111 of MCCA shall apply to taxable years beginning after December 31, 1988.