(a) IN GENERAL- Section 1105 of title 31, United States Code,
is amended by adding at the end the following new subsection:
`(h)(1) If there is a medicare funding warning under section 801(a)(2) of
the Medicare Prescription Drug, Improvement, and Modernization Act of 2003
made in a year, the President shall submit to Congress, within the 15-day
period beginning on the date of the budget submission to Congress under
subsection (a) for the succeeding year, proposed legislation to respond to
such warning.
`(2) Paragraph (1) does not apply if, during the year in which the warning
is made, legislation is enacted which eliminates excess general revenue
medicare funding (as defined in section 801(c) of the Medicare Prescription
Drug, Improvement, and Modernization Act of 2003) for the 7-fiscal-year
reporting period, as certified by the Board of Trustees of each medicare trust
fund (as defined in section 801(c)(5) of such Act) not later than 30 days
after the date of the enactment of such legislation.'.
(b) SENSE OF CONGRESS- It is the sense of Congress that legislation
submitted pursuant to section 1105(h) of title 31, United States Code, in a
year should be designed to eliminate excess general revenue medicare funding
(as defined in section 801(c)) for the 7-fiscal-year period that begins in such
year.
