Internal Revenue Code:Sec. 9505. Harbor Maintenance Trust Fund

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Location in Internal Revenue Code

     TITLE 26 - INTERNAL REVENUE CODE
      Subtitle I - Trust Fund Code
       CHAPTER 98 - TRUST FUND CODE
        Subchapter A - Establishment of Trust Funds
      

Statute

    Sec. 9505. Harbor Maintenance Trust Fund
 
    (a) Creation of Trust Fund
      There is hereby established in the Treasury of the United States
    a trust fund to be known as the ''Harbor Maintenance Trust Fund'',
    consisting of such amounts as may be -
        (1) appropriated to the Harbor Maintenance Trust Fund as
      provided in this section,
        (2) transferred to the Harbor Maintenance Trust Fund by the
      Saint Lawrence Seaway Development Corporation pursuant to section
      13(a) of the Act of May 13, 1954, or
        (3) credited to the Harbor Maintenance Trust Fund as provided
      in section 9602(b).
    (b) Transfer to Harbor Maintenance Trust Fund of amounts equivalent
        to certain taxes
      There are hereby appropriated to the Harbor Maintenance Trust
    Fund amounts equivalent to the taxes received in the Treasury under
    section 4461 (relating to harbor maintenance tax).
    (c) Expenditures from Harbor Maintenance Trust Fund
      Amounts in the Harbor Maintenance Trust Fund shall be available,
    as provided by appropriation Acts, for making expenditures -
        (1) to carry out section 210 of the Water Resources Development
      Act of 1986 (as in effect on the date of the enactment of the
      Water Resources Development Act of 1996),
        (2) for payments of rebates of tolls or charges pursuant to
      section 13(b) of the Act of May 13, 1954 (as in effect on April
      1, 1987), and
        (3) for the payment of all expenses of administration incurred
      by the Department of the Treasury, the Army Corps of Engineers,
      and the Department of Commerce related to the administration of
      subchapter A of chapter 36 (relating to harbor maintenance tax),
      but not in excess of $5,000,000 for any fiscal year.
 

Sources

    (Added Pub. L. 99-662, title XIV, Sec. 1403(a), Nov. 17, 1986, 100
    Stat. 4269; amended Pub. L. 103-182, title VI, Sec. 683(a), Dec. 8,
    1993, 107 Stat. 2218; Pub. L. 104-303, title VI, Sec. 601, Oct. 12,
    1996, 110 Stat. 3792.)
 

References in Text

                             REFERENCES IN TEXT
      Section 13 of the Act of May 13, 1954, referred to in subsecs.
    (a)(2) and (c)(2), is classified to section 988a of Title 33,
    Navigation and Navigable Waters.
      Section 210 of the Water Resources Development Act of 1986 (as in
    effect on the date of the enactment of the Water Resources
    Development Act of 1996), referred to in subsec. (c)(1), is
    classified to section 2238 of Title 33, Navigation and Navigable
    Waters. The date of the enactment of the Water Resources
    Development Act of 1996 is the date of enactment of Pub. L.
    104-303, which was approved Oct. 12, 1996.
 

Miscellaneous

                                 AMENDMENTS
      1996 - Subsec. (c)(1). Pub. L. 104-303 amended par. (1)
    generally.  Prior to amendment, par. (1) read as follows: ''to
    carry out section 210(a) of the Water Resources Development Act of
    1986 (as in effect on the date of enactment of this section),''.
      1993 - Subsec. (c)(3). Pub. L. 103-182 amended par. (3)
    generally.  Prior to amendment, par. (3) read as follows: ''for the
    payment of all expenses of administration incurred -
        ''(A) by the Department of the Treasury in administering
      subchapter A of chapter 36 (relating to harbor maintenance tax),
      but not in excess of $5,000,000 for any fiscal year, and
        ''(B) for periods during which no fee applies under paragraph
      (9) or (10) of section 13031(a) of the Consolidated Omnibus
      Budget Reconciliation Act of 1985.''
                      EFFECTIVE DATE OF 1993 AMENDMENT
      Section 683(b) of Pub. L. 103-182 provided that: ''The amendment
    made by subsection (a) (amending this section) shall apply to
    fiscal years beginning after the date of the enactment of this Act
    (Dec. 8, 1993).''
                               EFFECTIVE DATE
      Section 1403(d) of Pub. L. 99-662 provided that: ''The amendments
    made by this section (enacting this section) shall take effect on
    April 1, 1987.''
          HARBOR MAINTENANCE TRUST FUND DEPOSITS AND EXPENDITURES
      Pub. L. 102-580, title III, Sec. 330, Oct. 31, 1992, 106 Stat.
    4851, provided that:
      ''(a) Report. - Not later than March 1, 1993, and annually
    thereafter, the President shall transmit to the Committee on Public
    Works and Transportation (now Committee on Transportation and
    Infrastructure) of the House of Representatives and the Committee
    on Environment and Public Works of the Senate a report on
    expenditures from and deposits into the Harbor Maintenance Trust
    Fund.
      ''(b) Contents. -
        ''(1) In general. - Each report to be transmitted under
      subsection (a) shall contain the following:
          ''(A) A description of expenditures made from the trust fund
        in the previous fiscal year on a project-by-project basis.
          ''(B) A description of deposits made into the trust fund in
        the previous fiscal year and the sources of such deposits.
          ''(C) A 5-year projection of expenditures from and deposits
        into the trust fund.
        ''(2) Previous years information. - In addition to information
      required under paragraph (1), the initial report to be
      transmitted under subsection (a) shall contain the information
      described in subparagraphs (A) and (B) of paragraph (1) for
      fiscal years 1987 through 1992.''
 

References

                   SECTION REFERRED TO IN OTHER SECTIONS
      This section is referred to in title 33 sections 984, 2238.