that bonds may not be issued under this section to the public, or sold by a Government account to the public, with a rate of interest exceeding 44 per centum per annum in an amount which would cause the face amount of bonds issued under this section then held by the public with rates of interest exceeding 44 per centum per annum to exceed $10,000,000,000." SEC. 3. (a) Section 22 of the Second Liberty Bond Act, as amended Tax refund (31 U.S.C. 757c), is amended by adding at the end thereof the follow- oheck-bond. ing new subsection: "(j) (1) The Secretary of the Treasury is authorized to prescribe by regulations that checks issued to individuals (other than trusts and estates) as refunds made in respect of the taxes imposed by subtitle A of the Internal Revenue Code of 1954 may, at the time and in the manner provided in such regulations, become United States savings bonds of series E. Except as provided in paragraph (2), bonds issued under this subsection shall be treated for all purposes of law as series E bonds issued under this section. This subsection shall apply only if the claim for refund was filed on or before the last day prescribed by law for filing the return (determined without extensions thereof) for the taxable year in respect of which the refund is made. "(2) Any check-bond issued under this subsection shall bear an issue date of the first day of the first calendar month beginning after the close of the taxable year for which issued. "(3) In the case of any check-bond issued under this subsection to joint payees, the regulations prescribed under this subsection may provide that either payee may redeem the bond upon his request." 49 Stat. 21; 59 Stat. 47. 68A Stat. 3; 83 Stat. 600. 26 USC 1 et seq. (b) The amendment made by subsection (a) shall apply with Effective date. respect to refunds made after December 31, 1973. SEC. 4. (a) (1) Paragraph (1) of section 502 of the Social Security Act is amended by striking out "each of the next 4 fiscal years" and inserting in lieu thereof "each of the next 5 fiscal years". (2) Paragraph (2) of section 502 of such Act is amended by striking out "June 30, 1974" and inserting in lieu thereof "June 30, 1975". Maternal and child health services. 86 Stat. 456. 42 USC 702. (3) Section 505 (a) (8) of the Social Security Act is amended by 42 USC 705. striking out "July 1, 1973" and inserting in lieu thereof "July 1, 1974". (4) Section 505 (a) (9) of such Act is amended by striking out "July 1, 1973" and inserting in lieu thereof "July 1, 1974". (5) Section 505(a) (10) of such Act is amended by striking out “July 1, 1973” and inserting in lieu thereof "July 1, 1974“. 86 Stat. 457. 42 USC 708. 87 STAT. 135 (6) Section 508 (b) of such Act is amended by striking out "June 30, 1973" and inserting in lieu thereof "June 30, 1974". (7) Section 509 (b) of such Act is amended by striking out "June 30,/87 STAT. 136 1973" and inserting in lieu thereof "June 30, 1974”. (8) Section 510(b) of such Act is amended by striking out "June 30, 42 USC 710. 1973" and inserting in lieu thereof "June 30, 1974". (b) Title V of the Social Security Act is amended by adding at the 81 Stat. 921. end thereof the following new section: "SUPPLEMENTAL ALLOTMENTS 42 USC 701. "SEC. 516. (a) (1) For each fiscal year (commencing with the fiscal year ending June 30, 1975), there shall (subject to paragraph (2)) be allotted to each State (from funds appropriated for such fiscal year pursuant to subsection (b)) an amount, which shall be in addition to and available for the same purposes as the allotments of such State (as determined under sections 503 and 504), equal to the excess (if 42 USC 703, any) of 66 "(A) the amount of the allotment of such State (as determined under sections 503 and 504) for the fiscal year ending June 30, 1973, plus the amounts of any grants to such States under sections 508, 509, and 510, over "(B) the amount of the allotment of such State (as determined under sections 503 and 504) for such fiscal year which commences after June 30, 1973. "(2) No State shall receive an allotment under this section for any fiscal year, unless such State (in the administration of its State plan, 704. Supra. Ante, p. 135. Appropriation. Limitation, 87 STAT. 137 81 Stat. 922. 42 USC 704. Ante, pp. 135, 136. Appropriation. Limitation. 42 USC 701. approved under section 505) has in effect arrangements which the Secretary finds will provide for the continuation of appropriate services to population groups previously receiving services from funds made available (for the fiscal year ending June 30, 1974) to such State pursuant to sections 508, 509, and 510. "(b)(1)(A) There are (subject to subparagraph (B)) hereby authorized to be appropriated for each fiscal year (commencing with the fiscal year ending June 30, 1975) such amounts as may be necessary to enable the Secretary to make the allotments authorized under subsection (a). "(B) Nothing contained in subparagraph (A) shall be construed to authorize, for any fiscal year, the appropriation under this subsection of any amount which is in excess of the amount by which"(i) the amount authorized to be appropriated under section 501 for such year exceeds 66 "(ii) the total amounts appropriated pursuant to section 501 for such year. “(2) If, for any fiscal years, the total amount appropriated pursuant to paragraph (1) is less than the total amount allotted to all States under subsection (a), then the amount of the allotment of each State (as determined under subsection (a)) shall be reduced to an amount which bears the same ratio to the total amount appropriated pursuant to paragraph (1) for such fiscal year as the amount of the allotment of such State (as determined under subsection (a)) bears to the total amount allotted to all States under subsection (a) for such fiscal year." (c) (1) In the case of any State, if for the fiscal year ending June 30, 1974, the sum of— (A) the amount of the allotment which such State would have received under section 503 of the Social Security Act for such year (if subsection (a) of this section had not been enacted), plus (B) the amount of the allotment which such State would have received under section 504 of such Act for such year (if subsection (a) of this section had not been enacted), is in excess of the sum of— (C) the aggregate of the allotments which such State received (for the fiscal year ending June 30, 1973) under such sections 503 and 504, plus (D) the aggregate of the grants received (for the fiscal year ending June 30, 1973) under sections 508, 509, and 510 of such Act, then, for the fiscal year ending June 30, 1974, there shall be added to the allotments of such State, under sections 503 and 504 of such Act, in such proportion to each such allotment as the State shall specify, an amount equal to such excess. (2) (A) There are (subject to subparagraph (B)) hereby authorized to be appropriated, for the fiscal year ending June 30, 1974, such amounts as may be necessary to make the increase in allotments provided for in paragraph (1). (B) Nothing contained in subparagraph (A) shall be construed to authorize, for the fiscal year ending June 30, 1974, the appropriation under this paragraph of any amount which is in excess of the amount by which (i) the amount authorized to be appropriated under section 501 of such year, exceeds (ii) the total amounts appropriated pursuant to section 501 for such year. (3) If, for the fiscal year ending June 30, 1974, the amount appropriated pursuant to the preceding provisions of this subsection is less than the total of the amounts authorized to be added to the allotments of States (as determined under paragraph (1)), then the amount to be added to the allotment of each State shall be reduced to an amount which bears the same ratio to the amount so appropriated for such year as the amount to be added to the allotment of such State (as determined under paragraph (1)) bears to the total of the amounts to be added to the allotments of all States (as determined under paragraph (1)). SEC. 5. Section 203 (e) (2) of the Federal-State Extended Unemployment Compensation Act of 1970 is amended by adding at the end thereof the following: "Effective with respect to compensation for weeks of unemployment beginning before January 1, 1974, and beginning after the date of the enactment of this sentence (or, if later, the date established pursuant to State law), the State by law may provide that the determination of whether there has been a State 'off' indicator ending any extended benefit period shall be made under this subsection as if paragraph (1) did not contain subparagraph (A) thereof and may provide that the determination of whether there has been a State 'on' indicator beginning any extended benefit period shall be made under this subsection as if (i) paragraph (1) did not contain subparagraph (A) thereof, (ii) the 4 per centum contained in subparagraph (B) thereof were 4.5 per centum, and (iii) paragraph (1) of subsection (b) did not contain subparagraph (B) thereof. In the case of any individual who has a week with respect to which extended compensation was payable pursuant to a State law referred to in the preceding sentence, if the extended benefit period under such law does not expire before January 1, 1974, the eligibility period of such individual for purposes of such law shall end with the thirteenth week which begins after December 31, 1973." SEC. 6. (a) Section 6096 of the Internal Revenue Code of 1954 (relating to designation by individuals of income tax payments to Presidential Election Campaign Fund) is amended to read as follows: "SEC. 6096. DESIGNATION BY INDIVIDUALS. Unemployment compensation. 84 Stat. 709; 86 Stat. 1326. 26 USC 3304 notes. 87 STAT. 138 Presidential Election Campaign Fund. 80 Stat. 1587; 85 Stat. 573. 26 USC 6096. "(a) IN GENERAL.-Every individual (other than a nonresident alien) whose income tax liability for the taxable year is $1 or more may designate that $1 shall be paid over to the Presidential Election Campaign Fund in accordance with the provisions of section 9006 (a). Infra. In the case of a joint return of husband and wife having an income tax liability of $2 or more, each spouse may designate that $1 shall be paid to the fund. (b) INCOME TAX LIABILITY. For purposes of subsection (a), the income tax liability of an individual for any taxable year is the amount of the tax imposed by chapter 1 on such individual for such taxable year (as shown on his return), reduced by the sum of the credits (as shown in his return) allowable under sections 33, 37, 38, 40, and 41. 66 68A Stat. 133 "(c) MANNER AND TIME OF DESIGNATION.-A designation under 85 Stat. 553. subsection (a) may be made with respect to any taxable year— "(1) at the time of filing the return of the tax imposed by chapter 1 for such taxable year, or "(2) at any other time (after the time of filing the return of the tax imposed by chapter 1 for such taxable year) specified in regulations prescribed by the Secretary or his delegate. Such designation shall be made in such manner as the Secretary or his delegate prescribes by regulations except that, if such designation is made at the time of filing the return of the tax imposed by chapter 1 for such taxable year, such designation shall be made either on the first page of the return or on the page bearing the taxpayer's signature." (b) Section 9006 of the Internal Revenue Code of 1954 (relating 85 Stat. 567. to payments to eligible candidates) is amended to read as follows: "SEC. 9006. PAYMENTS TO ELIGIBLE CANDIDATES. "(a) ESTABLISHMENT OF CAMPAIGN FUND.-There is hereby established on the books of the Treasury of the United States a special fund to be known as the 'Presidential Election Campaign Fund'. The Secretary shall, as provided by appropriation Acts, transfer to the fund an amount not in excess of the sum of the amounts designated (subsequent to the previous Presidential election) to the fund by individuals under section 6096. "(b) TRANSFER TO THE GENERAL FUND.-If, after a Presidential election and after all eligible candidates have been paid the amount which they are entitled to receive under this chapter, there are moneys Supra. 26-151 O-74-63 87 STAT. 139 85 Stat, 564. 26 USC 9003, 9007, 9012. Effective date. 87 STAT. 140 Commission on Term extension. 86 Stat.63. 11 USC prec.1 note. remaining in the fund, the Secretary shall transfer the moneys so remaining to the general fund of the Treasury. "(c) PAYMENTS FROM THE FUND.-Upon receipt of a certification from the Comptroller General under section 9005 for payment to the eligible candidates of a political party, the Secretary shall pay to such candidates out of the fund the amount certified by the Comptroller General. Amounts paid to any such candidates shall be under the con trol of such candidates. 66 "(d) INSUFFICIENT AMOUNTS IN FUND.-If at the time of a certification by the Comptroller General under section 9005 for payment to the eligible candidates of a political party. the Secretary or his delegate determines that the moneys in the fund are not, or may not be, sufficient to satisfy the full entitlements of the eligible candidates of all political parties, he shall withhold from such payment such amount as he determines to be necessary to assure that the eligible candidates of each political party will receive their pro rata share of their full entitlement. Amounts withheld by reason of the preceding sentence shall be paid when the Secretary or his delegate determines that there are sufficient moneys in the fund to pay such amounts, or portions thereof, to all eligible candidates from whom amounts have been withheld, but, if there are not sufficient moneys in the fund to satisfy the full entitlement of the eligible candidates of all political parties, the amounts so withheld shall be paid in such manner that the eligible candidates of each political party receive their pro rata share of their full entitlement." (c) Sections 9003(b) (2), 9007(b) (3), and 9012 (b) (1) of the Internal Revenue Code of 1954 are each amended by striking out "9006(c)" and inserting in lieu thereof "9006 (d)". (d) The amendments made by this section shall apply with respect to taxable years beginning after December 31, 1972. Any designation inade under section 6096 of the Internal Revenue Code of 1954 (as in effect for taxable years beginning before January 1, 1973) for the account of the candidates of any specified political party shall, for purposes of section 9006(a) of such Code (as amended by subsection (b)), be treated solely as a designation to the Presidential Election Campaign Fund. Approved July 1, 1973. LEGISLATIVE HISTORY: HOUSE REPORTS: No. 93-257 (Comm. on Ways and Means) and Nos. 93-355 and 93-362 (Comm. of Conference). SENATE REPORT No. 93-249 (Comm. on Finance). CONGRESSIONAL RECORD, Vol. 119 (1973): June 13, considered and passed House. June 26, 27, considered and passed Senate, amended. June 29, House considered oonference report. June 30, House concurred in Senate amendment with an amendment; Senate concurred in House amendment and agreed to conference report No. 93-362. Providing for an extension of the term of the Commission on the Bankruptcy Resolved by the Senate and House of Representatives of the United States of America in Congress assembled, That subsection (c) of the first section of the joint resolution entitled "Joint Resolution to create a commission to study the bankruptcy laws of the United States" approved July 24, 1970 (84 Stat. 468), is amended to read as follows: (c) The Commission shall submit a comprehensive report of its activities, including its recommendations, to the President, the Chief Justice of the United States, and the Congress prior to July 31, 1973. The Commission shall cease to exist thirty days after the date of the submission of its final report." SEC. 2. Money appropriated for the purposes of carrying out the joint resolution entitled "Joint Resolution to create a commission to study the bankruptcy laws of the United States" approved July 24, 1970 (84 Stat. 468), shall remain available until expended or until the Commission established under such joint resolution ceases to exist. Approved July 1, 1973. LEGISLATIVE HISTORY: HOUSE REPORT No. 93-262 (Comm. on the Judiciary). June 19, considered and passed House. Public Law 93-58 93rd Congress, H. R. 7357 An Act To amend sections 3(e) and 5(1)(1) of the Railroad Retirement Act of 1987 to simplify administration of the Act; and to amend section 226(e) of the Social Security Act to extend kidney disease medicare coverage to railroad employees, their spouses, and their dependent children; and for other purposes. 87 STAT. 141 Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That section 3(e) Railroad Retireof the Railroad Retirement Act of 1937 is amended by striking out the ment Aot of 1937, word "and" after clause (ix) in the second paragraph thereof and amendment. inserting after the semicolon in clause (x) in such second para- Kidney disease graph the following new clauses: medicare. 86. Stat. 765. "(xi) years of coverage as defined in section 215 (a) of the 82 Stat. 18 Social Security Act for an employee who has been awarded an 45 USC 2280. annuity under section 2 of this Act shall be determined only on 86 Stat. 410, the basis of his wages and self-employment income credited under 1333. the Social Security Act through the later of December 31, 1971, 42 USC 415. or December 31 of the year preceding the year in which his an- 45 USC 228b. nuity began to accrue; and (xii) in determining increment months for the purpose of a delayed retirement increase, section 303 (w) (2)(B)(ii) of the Social Security Act shall be deemed to read as follows: "such individual was not entitled to an old-age insurance benefit";"." SEC. 2. Section 5(1)(1) of the Railroad Retirement Act of 1937 is amended (1) by striking out from clause (ii) "shall not be adopted after such death by other than a stepparent, grandparent, aunt, uncle, brother, or sister;"; (2) by striking out from such clause (ii) "age eighteen" and inserting in lieu thereof "age twenty-two or before the close of the eighty-fourth month following the month in which his most recent entitlement to an annuity under section 5(c) of this Act terminated because he ceased to be under such a disability"; Child's annuity, extension. 60 Stat. 7333 65 Stat. 688; 80 Stat. 1084. 45 USC 228e. (3) by striking from the third sentence thereof "202(d) (3) or (4)" and inserting in lieu thereof "202(d) (3), (4), or (9)"; (4) by adding immediately after the seventh sentence thereof Re entitlement. the following new sentence: "A child whose entitlement to an annuity under section 5(c) of this Act was terminated because he ceased to be disabled as provided in clause (ii) of this paragraph and who becomes again disabled as provided in such clause (ii), may become reentitled to an annuity on the basis of such disability upon his application for such reentitlement."; and (5) by adding the following new paragraph at the end thereof: "A child who attains age twenty-two at a time when he is a full-time student (as defined in subparagraph (A) of paragraph Full-time students, |