Section 1. Short title
This Act may be cited as the Social Security Cost of Living Increase Act of 2023.
(a) In general
Section 215(i)(1) of the Social Security Act (42 U.S.C. 415(i)(1)) is amended by adding at the end the following new subparagraph:
(H) the term Consumer Price Index means the Consumer Price Index for Elderly Consumers (CPI–E, as published by the Bureau of Labor Statistics of the Department of Labor).
(1) In general
Section 215(i)(1) of the Social Security Act as in effect in December 1978, and as applied in certain cases under the provisions of such Act as in effect after December 1978, is amended by adding at the end the following new subparagraph:
(D) the term Consumer Price Index means the Consumer Price Index for Elderly Consumers (CPI–E, as published by the Bureau of Labor Statistics of the Department of Labor).
(2) Conforming change
Section 215(i)(4) of the Social Security Act (42 U.S.C. 415(i)(4)) is amended—
(A) by striking and by section 9001 and inserting, section 9001; and
(B) by inserting and section 3 of the Social Security Cost of Living Increase Act of 2023, after 1986,.
(c) Publication of Consumer Price Index for Elderly Consumers
The Bureau of Labor Statistics of the Department of Labor shall prepare and publish the index authorized by section 191 of the Older Americans Amendments Act of 1987 (29 U.S.C. 2 note) for each calendar month, beginning with the date of enactment of this Act, and such index shall be known as the Consumer Price Index for Elderly Consumers.
(d) Effective date
The amendments made by subsection (a) shall apply to determinations made with respect to cost-of-living computation quarters (as defined in section 215(i)(1)(B) of the Social Security Act (42 U.S.C. 415(i)(1)(B))) ending on or after September 30, 2024.