acceptance of money gifts made unconditionally to social security

acceptance of money gifts made unconditionally to social security Sec. 132. (a) The second sentence of section 201(a) of the Social Security Act is amended by inserting after “in addition,” the following: “such gifts and bequests as may be made as provided in subsection (i)(1), and”. (b) The second sentence of section 201(b) of such Act is amended by inserting after “consist of” the following: “such gifts and bequests as may be made as provided in subsection (i) (1), and”. (c) Section 201 of such Act is further amended by adding after subsection (h) the following new subsection: “(i) (1) The Managing Trustee of the Federal Old-Age and Survivors Insurance Trust Fund, the Federal Disability Insurance Trust Fund, the Federal Hospital Insurance Trust Fund, and the Federal 86 Stat. 1361Supplementary Medical Insurance Trust Fund is authorized to accept on behalf of the United States money gifts and bequests made unconditionally to any one or more of such Trust Funds or to the Department of Health, Education, and Welfare, or any part or officer thereof, for the benefit of any of such Funds or any activity financed through such Funds. “(2) Any such gift, accepted pursuant to the authority granted in paragraph (1) of this subsection shall be deposited in— “(A) the specific trust fund designated by the donor or “(B) if the donor has not so designated, the Federal Old-Age and Survivors Insurance Trust Fund.” (d) The second sentence of section 1817(a) of such Act is amended by inserting after “consist of” and before “such amounts” the following: “such gifts and bequests as may be made as provided in section 201 (i) (1), and”. (e) The second sentence of section 1841(a) of such Act is amended by inserting after “consist of” and before “such amounts” the following: “such gifts and bequests as may be made as provided in section 201(i)(1), and”. (f) The amendments made by this section shall apply with respect to sifts and bequests received after the date of enactment, of this Act. (g) For the purpose of Federal income, estate, and gift taxes, any gift or bequest to the Federal Old-Age and Survivors Insurance Trust Fund, the Federal Disability Insurance Trust Fund, the Federal Hospital Insurance Trust Fund, or the Federal Supplementary Medical insurance Trust Fund, or to the Department of Health, Education, and Welfare, or any part, or officer thereof, for the benefit of any of such Funds or any activity financed through any of such Funds, which is accepted by the Managing Trustee of such Trust Funds under the authority of section 201 (i) of the Social Security Act, shall be considered as a gift or bequest to or for the use of the United States and as made for exclusively public purposes.