1. Short title This Act may be cited as the Time to Rescue United States Trusts Act or the TRUST Act . 2. Definitions In this Act: (1) Co-chair The term co-chair means an individual appointed to serve as a co-chair of a Rescue Committee under section 4(a)(4)(C)(i). (2) Critical social contract program The term critical social contract program means a Federal program the Secretary identifies in the report under section 3. (3) Rescue Committee The term Rescue Committee means a committee established under section 4(a). (4) Rescue Committee bill The term Rescue Committee bill means a bill consisting solely of legislative language that a Rescue Committee approves and submits under clauses (i) and (vi), respectively, of section 4(a)(3)(B). (5) Secretary The term Secretary means the Secretary of the Treasury. 3. Identification of critical social contract programs Not later than 45 days after the date of enactment of this Act, the Secretary shall submit to Congress a report that identifies each Federal program— (1) for which a Federal trust fund is established; (2) the amount of outlays of which, for the fiscal year immediately preceding the fiscal year in which this Act is enacted, were not less than $20,000,000,000