Creation of Trust Fund
There is hereby established in the Treasury of the United States a trust fund to be known as the “Inland Waterways Trust Fund”, consisting of such amounts as may be appropriated or credited to such Trust Fund as provided in this section or section 9602(b).
Transfer to Trust Fund of amounts equivalent to certain taxes
There are hereby appropriated to the Inland Waterways Trust Fund amounts equivalent to the taxes received in the Treasury under section 4042 (relating to tax on fuel used in commercial transportation on inland waterways). The preceding sentence shall apply only to so much of such taxes as are attributable to the Inland Waterways Trust Fund financing rate under section 4042(b).
Expenditures from Trust Fund
In general
Except as provided in paragraph (2), amounts in the Inland Waterways Trust Fund shall be available, as provided by appropriation Acts, for making construction and rehabilitation expenditures for navigation on the inland and coastal waterways of the United States described in section 206 of the Inland Waterways Revenue Act of 1978, as in effect on the date of the enactment of this section.
Exception for certain projects
Not more than ½ of the cost of any construction to which section 102(a) of the Water Resources Development Act of 1986 applies (as in effect on the date of the enactment of this section) may be paid from the Inland Waterways Trust Fund.
Pub. L. 99–662, title XIV, § 1405(a)100 Stat. 4271 Pub. L. 99–499, title V, § 521(b)(3)100 Stat. 1778 Pub. L. 100–647, title I, § 1018(u)(18)102 Stat. 3591 (Added , , ; amended , , ; , , .)
Editorial Notes
References in Text
section 1804 of Title 33section 9506 of this titlePub. L. 99–662Section 206 of the Inland Waterways Revenue Act of 1978, as in effect on the date of the enactment of this section, referred to in subsec. (c)(1), is classified to , Navigation and Navigable Waters. The date of the enactment of is the date of enactment of , which was approved .
section 2212(a) of Title 33section 9506 of this titlePub. L. 99–662Section 102(a) of the Water Resources Development Act of 1986 (as in effect on the date of enactment of this section), referred to in subsec. (c)(2), is classified to . The date of enactment of is the date of enactment of , which was approved .
Amendments
Pub. L. 100–647Pub. L. 99–499, § 521(b)(3)1988—Subsec. (b). made technical corrections to directory language of , see 1986 Amendment note below.
Pub. L. 99–499Pub. L. 100–647, § 1018(u)(18)1986—Subsec. (b). , as amended by , inserted at end “The preceding sentence shall apply only to so much of such taxes as are attributable to the Inland Waterways Trust Fund financing rate under section 4042(b).”
Statutory Notes and Related Subsidiaries
Effective Date of 1988 Amendment
Pub. L. 100–647Pub. L. 99–514section 1019(a) of Pub. L. 100–647section 1 of this titleAmendment by effective, except as otherwise provided, as if included in the provision of the Tax Reform Act of 1986, , to which such amendment relates, see , set out as a note under .
Effective Date of 1986 Amendment
Pub. L. 99–499section 521(e) of Pub. L. 99–499section 4041 of this titleAmendment by effective , see , set out as a note under .
Effective Date
Pub. L. 99–662, title XIV, § 1405(d)100 Stat. 4271