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97 STAT. 136 PUBLIC LAW 98-21—APR. 20, 1983 thereof "Secretary of Health and Human Services, all ex officio, and of two members of the public (both of whom may not be from the same political party), who shall be nominated by the President for a term of four years and subject to confirmation by the Senate"; and (2) by adding at the end thereof the following new sentence: "A person serving on the Board of Trustees shall not be consid- ered to be a fiduciary and shall not be personally liable for actions taken in such capacity with respect to the Trust Fund.". Effective date. (d) The amendments made by this section shall become effective 42 use 401 note, on the date of enactment of this Act. PAYMENT SCHEDULE BY STATE AND LOCAL GOVERNMENTS 42 use 418. SEC. 342. (a) Section 218(e)(1)(A) of the Social Security Act is amended to read as follows: "(A) that the State will pay to the Secretary of the Treasury— "(i) on the last day of each calendar month, amounts equivalent to the sum of the taxes which would be imposed by sections 3101 and 3111 of the Internal Revenue Code of 26 use 3101, 1954 with respect to the period which includes the first ^^^^ fifteen days of such calendar month if the services for which wages were paid in such period to employees covered by the agreement constituted employment as defined in 26 use 3121. section 3121 of such Code, and "(ii) on the fifteenth day of the calendar month following such calendar month, amounts equivalent to the sum of the taxes Which would be imposed by sections 3101 and 3111 of such Code with respect to the period beginning with the sixteenth day of such calendar month and ending with the last day of such calendar month if the services for which wages were paid in such period to employees covered by the agreement constituted employment as defined in section 3121 ofsuch Code; and". Effective date. (b) The amendments made by this section shall apply to calendar 42 use 418 note, months beginning after December 31,1983. EARNINGS SHARING IMPLEMENTATION REPORT 42 use 902 note. SEC. 343. (a) The Secretary of Health and Human Services (herein- after in this section referred to as the "Secretary") shall develop, in consultation with the Committee on Finance of the Senate and the Committee on Ways and Means of the House of Representatives, proposals for earnings sharing legislation as described in subsection (b). The Secretary shall report such proposals to such committees not later than July 1, 1984. The report and proposals provided to such committees shall— (1) take into account, discuss, and analyze the impact of earnings sharing on various categories of social security beneficiaries and include recommendations for the implementa- tion of earnings sharing which may be necessary to provide adequate protection for particular classes of beneficiaries; (2) include specific recommendations with respect to an appro- priate and feasible time period or time periods for implementa- tion of such proposals along with recommendations for any transition provisions which may be necessary or appropriate; and