ELIMINATION OF ADVANCED CREDITING TO THE TRUST FUNDS OF SOCIAL SECURITY PAYROLL TAXES.

SEC. 5115. ELIMINATION OF ADVANCED CREDITING TO THE TRUST FUNDS OF SOCIAL SECURITY PAYROLL TAXES. (a) In General.—Section 201(a) (42 U.S.C. 401(a)) is amended— (1) in the first sentence following clause (4)— (A) by striking “monthly on the first day of each calendar month* both places it appears” and inserting “from time to time”; (B) by striking “to be paid to or deposited into the Treasury during such month” and inserting “paid to or deposited into the Treasury”; and (2) in the last sentence, by striking “Fund;” and inserting “Fund. Notwithstanding the preceding sentence, in any case in which the Secretary of the Treasury determines that the assets of either such Trust Fund would otherwise be inadequate to meet such Fund’s obligations for any month, the Secretary of the Treasury shall transfer to such Trust Fund on the first day of such month the amount which would have been transferred to such Fund under this section as in effect on October 1, 1990; and”. (c) Effective Date.—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.