§1303 — Title 38 Veterans' Benefits | U.S. Code

Summary

For fiscal years 1998 through 2013, cost-of-living increases for dependency and indemnity compensation must use one single percentage for all payments. That percentage cannot be higher than the Social Security increase for that year. If a new monthly payment is not an exact dollar, it must be rounded down to the next lower whole dollar. "Social Security increase" means the percent by which Title II Social Security benefits are raised for that fiscal year because of the calculation in section 215(i) of the Social Security Act.

Title 38, §1303

Veterans' Benefits — Source: USLM XML via OLRC

(a)In the computation of cost-of-living adjustments for fiscal years 1998 through 2013 in the rates of dependency and indemnity compensation payable under this chapter, such adjustments (except as provided in subsection (b)) shall be made by a uniform percentage that is no more than the percentage equal to the social security increase for that fiscal year, with all increased monthly rates (other than increased rates equal to a whole dollar amount) rounded down to the next lower whole dollar amount.

(b)For purposes of this section, the term “social security increase” means the percentage by which benefit amounts payable under title II of the Social Security Act (42 U.S.C. 401 et seq.) are increased for any fiscal year as a result of a determination under section 215(i) of such Act (42 U.S.C. 415(i)).

Notes & Related Subsidiaries

Editorial Notes

References in Text

The Social Security Act, referred to in subsec. (b), is act Aug. 14, 1935, ch. 531, 49 Stat. 620. Title II of the Act is classified generally to subchapter II (§ 401 et seq.) of Title 42, The Public Health and Welfare. For complete classification of this Act to the Code, see section 1305 of Title 42 and Tables.

Amendments

2003—Subsec. (a). Pub. L. 108–183 substituted “2013” for “2011”. 2001—Subsec. (a). Pub. L. 107–103 substituted “2011” for “2002”.

§1303 Cost-of-living Adjustments