Trust Fund Restoration Act of 1995

Summary: Trust Fund Restoration Act of 1995 - Prohibits the receipts and disbursements of the Highway Trust Fund, the Airport and Airway Trust Fund, the Inland Waterways Trust Fund, and the Harbor Maintenance Trust Fund from being:  (1) included in the totals of either the President's budget or in the congressional budget; (2) considered as any category of discretionary appropriations as defined under the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) or subject to discretionary spending limits under such Act; (3) subject to sequestration under such Act; and (4) exempt from any general budget limitation imposed by statute on expenditures and net lending (budget outlays). Makes any such disbursements subject to appropriations.  Directs, with respect to the Airport and Airway Trust Fund, that estimates of unfunded aviation authorizations and net aviation receipts be made annually and that adjustments be made if unfunded authorizations exceed receipts.  Sets forth similar provisions for both the Inland Waterways Trust Fund and the Harbor Maintenance Trust Fund.

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Trust Fund Restoration Act of 
1995''.

SEC. 2. DEFINITIONS.

    In this Act:
            (1) Airport and airway trust fund.--The term ``Airport and 
        Airway Trust Fund'' means the Airport and Airway Trust Fund 
        established by section 9502 of the Internal Revenue Code of 
        1986.
            (2) Harbor maintenance trust fund.--The term ``Harbor 
        Maintenance Trust Fund'' means the Harbor Maintenance Trust 
        Fund established by section 9505 of the Internal Revenue Code 
        of 1986.
            (3) Highway trust fund.--The term ``Highway Trust Fund'' 
        means the Highway Trust Fund established by section 9503 of the 
        Internal Revenue Code of 1986.
            (4) Inland waterways trust fund.--The term ``Inland 
        Waterways Trust Fund'' means the Inland Waterways Trust Fund 
        established by section 9506 of the Internal Revenue Code of 
        1986.

SEC. 3. BUDGETARY TREATMENT OF HIGHWAY TRUST FUND, AIRPORT AND AIRWAY 
              TRUST FUND, INLAND WATERWAYS TRUST FUND, AND HARBOR 
              MAINTENANCE TRUST FUND.

    (a) In General.--The receipts and disbursements of the Highway 
Trust Fund, the Airport and Airway Trust Fund, the Inland Waterways 
Trust Fund, and the Harbor Maintenance Trust Fund--
            (1) shall not be included in the totals of--
                    (A) the budget of the United States Government as 
                submitted by the President under section 1105 of title 
                31, United States Code; or
                    (B) the congressional budget (including allocations 
                of budget authority and outlays provided in the 
                congressional budget);
            (2) shall not be--
                    (A) considered to be part of any category (as 
                defined in section 250(c)(4) of the Balanced Budget and 
                Emergency Deficit Control Act of 1985 (2 U.S.C. 
                900(c)(4))) of discretionary appropriations; or
                    (B) subject to the discretionary spending limits 
                established under section 251(b) of the Act (2 U.S.C. 
                901(b));
            (3) shall not be subject to sequestration under section 
        251(a) of the Act (2 U.S.C. 901(a)); and
            (4) shall be exempt from any general budget limitation 
        imposed by statute on expenditures and net lending (budget 
        outlays) of the United States Government.
    (b) Disbursements Subject to Appropriations.--The disbursements 
referred to in subsection (a) shall be subject to appropriations.

SEC. 4. SAFEGUARDS AGAINST DEFICIT SPENDING OUT OF AIRPORT AND AIRWAY 
              TRUST FUND.

    (a) In General.--Chapter 471 of title 49, United States Code, is 
amended by inserting after section 47129 the following:
``Sec. 47130. Safeguards against deficit spending
    ``(a) Estimates of Unfunded Aviation Authorizations and Net 
Aviation Receipts.--Not later than March 31 of each year, the 
Secretary, in consultation with the Secretary of the Treasury, shall 
estimate--
            ``(1) the amount that would (but for this section) 
        constitute the unfunded aviation authorizations at the 
        termination of the first fiscal year that begins after that 
        March 31; and
            ``(2) the net aviation receipts at the termination of the 
        fiscal year referred to in paragraph (1).
    ``(b) Procedure if Excess Unfunded Aviation Authorizations.--If, 
with respect to a fiscal year, the Secretary determines that the amount 
described in subsection (a)(1) exceeds the amount described in 
subsection (a)(2), the Secretary shall determine the amount of the 
excess.
    ``(c) Adjustment of Authorizations if Unfunded Authorizations 
Exceed Receipts.--
            ``(1) Determination of percentage.--If the Secretary 
        determines, in accordance with subsection (b), that there is an 
        excess amount with respect to a fiscal year, the Secretary 
        shall determine the percentage that the excess amount is of the 
        sum of--
                    ``(A) the amounts authorized to be appropriated 
                from the Airport and Airway Trust Fund for the next 
                fiscal year; and
                    ``(B) the amounts available for obligation from the 
                Airport and Airway Trust Fund for the next fiscal year.
            ``(2) Adjustment of authorizations.--If the Secretary 
        determines, in accordance with subsection (b), that there is an 
        excess amount with respect to a fiscal year, each amount 
        authorized to be appropriated or available for obligation from 
        the Airport and Airway Trust Fund for the next fiscal year 
        shall be reduced by the percentage determined in accordance 
        with paragraph (1).
    ``(d) Availability of Amounts Previously Withheld.--
            ``(1) Adjustment of authorizations.--Any amount authorized 
        to be appropriated or available for obligation from the Airport 
        and Airway Trust Fund that is reduced under subsection (c)(2) 
        shall be further adjusted in accordance with paragraph (2) if, 
        after an adjustment has been made under subsection (c)(2) for a 
fiscal year, the Secretary determines that, with respect to the fiscal 
year--
                    ``(A) the amount described in subsection (a)(1) 
                does not exceed the amount described in subsection 
                (a)(2); or
                    ``(B) an excess amount determined under subsection 
                (b) is less than an excess amount determined as a 
                result of a previous determination.
            ``(2) Adjustment.--Each amount that is subject to a further 
        adjustment under paragraph (1) shall be increased by an equal 
        percentage determined by the Secretary under paragraph (3).
            ``(3) Percentage.--
                    ``(A) In general.--Subject to subparagraph (B), the 
                percentage referred to in paragraph (2) shall be the 
                maximum percentage that does not cause the amount 
                described in subsection (a)(1) to exceed the amount 
                described in subsection (a)(2).
                    ``(B) Limitation.--The amount of any increase 
                determined under this subsection may not exceed the 
                amount of the corresponding reduction under subsection 
                (c)(2).
            ``(4) Apportionment.--The total amount of any increases 
        determined for a fiscal year under paragraph (3) shall be made 
        available to the Secretary for apportionment. The Secretary 
        shall apportion the amount in accordance with this subsection.
            ``(5) Period of availability.--Any funds apportioned under 
        paragraph (4) shall remain available for the period for which 
        the funds would be available if the apportionment were made 
        under appropriations and obligations for the fiscal year in 
        which the funds are apportioned under paragraph (4).
    ``(e) Reports.--The Secretary shall report to Congress--
            ``(1) any estimate made under subsection (a); and
            ``(2) any determination made under subsection (b), (c), or 
        (d).
    ``(f) Definitions.--In this section:
            ``(1) Airport and airway trust fund.--The term `Airport and 
        Airway Trust Fund' means the Airport and Airway Trust Fund 
        established by section 9502 of the Internal Revenue Code of 
        1986.
            ``(2) Net aviation receipts.--The term `net aviation 
        receipts' means, with respect to any period, the amount by 
        which--
                    ``(A) the receipts (including interest) of the 
                Airport and Airway Trust Fund during the period; 
                exceeds
                    ``(B) the amounts to be transferred during the 
                period from the Airport and Airway Trust Fund under 
                section 9502(d) of the Internal Revenue Code of 1986 
                (other than under section 9502(d)(1) of the Code).
            ``(3) Secretary.--The term `Secretary' means the Secretary 
        of Transportation.
            ``(4) Unfunded aviation authorizations.--The term `unfunded 
        aviation authorization' means, at any time, the amount by 
        which--
                    ``(A) the total amount authorized to be 
                appropriated or available for obligation from the 
                Airport and Airway Trust Fund that has not been 
                appropriated or obligated; exceeds
                    ``(B) the amount available in the Airport and 
                Airway Trust Fund at that time to make the 
                appropriation or to liquidate the obligation (after all 
                other unliquidated obligations at that time that are 
                payable from the Airport and Airway Trust Fund have 
                been liquidated).''.
    (b) Conforming Amendment.--The analysis for chapter 471 of title 
49, United States Code, is amended by adding at the end of subchapter I 
the following:

``47130. Safeguards against deficit spending.''.

SEC. 5. SAFEGUARDS AGAINST DEFICIT SPENDING OUT OF INLAND WATERWAYS 
              TRUST FUND AND HARBOR MAINTENANCE TRUST FUND.

    (a) Estimates of Unfunded Inland Waterways Authorizations and Net 
Inland Waterways Receipts.--Not later than March 31 of each year, the 
Secretary, in consultation with the Secretary of the Treasury, shall 
estimate--
            (1) the amount that would (but for this section) constitute 
        the unfunded inland waterways authorizations and unfunded 
        harbor maintenance authorizations at the termination of the 
        first fiscal year that begins after that March 31; and
            (2) the net inland waterways receipts and net harbor 
        maintenance receipts at the termination of the fiscal year 
        referred to in paragraph (1).
    (b) Procedure if Excess Unfunded Authorizations.--If, with respect 
to a fiscal year, the Secretary determines with respect to a Trust Fund 
that the amount described in subsection (a)(1) exceeds the amount 
described in subsection (a)(2), the Secretary shall determine the 
amount of the excess.
    (c) Adjustment of Authorizations if Unfunded Authorizations Exceed 
Receipts.--
            (1) Determination of percentage.--If the Secretary 
        determines, in accordance with subsection (b), that there is an 
        excess amount with respect to a fiscal year, the Secretary 
        shall determine the percentage that the excess amount is of the 
        sum of--
                    (A) the amounts authorized to be appropriated from 
                the Trust Fund for the next fiscal year; and
                    (B) the amounts available for obligation from the 
                Trust Fund for the next fiscal year.
            (2) Adjustment of authorizations.--If the Secretary 
        determines, in accordance with subsection (b), that there is an 
        excess amount with respect to a fiscal year, each amount 
        authorized to be appropriated or available for obligation from 
        the Trust Fund for the next fiscal year shall be reduced by the 
        percentage determined in accordance with paragraph (1).
    (d) Availability of Amounts Previously Withheld.--
            (1) Increase of authorizations.--Any amount authorized to 
        be appropriated or available for obligation from a Trust Fund 
        that is reduced under subsection (c)(2) shall be further 
        adjusted in accordance with paragraph (2) if, after an 
        adjustment has been made under subsection (c)(2) for a fiscal 
        year with respect to the Trust Fund, the Secretary determines 
        that, with respect to the Trust Fund and the fiscal year--
                    (A) the amount described in subsection (a)(1) does 
                not exceed the amount described in subsection (a)(2); 
                or
                    (B) an excess amount determined under subsection 
                (b) is less than an excess amount determined as a 
                result of a previous determination.
            (2) Adjustment.--Each amount that is subject to a further 
        adjustment under paragraph (1) shall be increased by an equal 
        percentage determined by the Secretary under paragraph (3).
            (3) Percentage.--
                    (A) In general.--Subject to subparagraph (B), the 
                percentage referred to in paragraph (2) shall be the 
                maximum percentage that does not cause the amount 
                described in subsection (a)(1) to exceed the amount 
                described in subsection (a)(2) with respect to the 
                Trust Fund.
                    (B) Limitation.--The amount of any increase 
                determined under this subsection may not exceed the 
                amount of the corresponding reduction under subsection 
                (c)(2).
    (e) Reports.--The Secretary shall report to Congress--
            (1) any estimate made under subsection (a); and
            (2) any determination made under subsection (b), (c), or 
        (d).
    (f) Definitions.--In this section:
            (1) Net harbor maintenance receipts.--The term ``net harbor 
        maintenance receipts'' means, with respect to any period, the 
        receipts (including interest) of the Harbor Maintenance Trust 
        Fund during the period.
            (2) Net inland waterways receipts.--The term ``net inland 
        waterways receipts'' means, with respect to any period, the 
        receipts (including interest) of the Inland Waterways Trust 
        Fund during the period.
            (3) Secretary.--The term ``Secretary'' means the Secretary 
        of the Army.
            (4) Trust fund.--The term ``Trust Fund'' means the Inland 
        Waterways Trust Fund or the Harbor Maintenance Trust Fund, as 
        the case may be.
            (5) Unfunded harbor maintenance authorizations.--The term 
        ``unfunded harbor maintenance authorizations'' means, at any 
        time, the amount by which--
                    (A) the total amount authorized to be appropriated 
                or available for obligation from the Harbor Maintenance 
                Trust Fund that has not been appropriated or obligated; 
                exceeds
                    (B) the amount available in the Harbor Maintenance 
                Trust Fund at that time to make the appropriation.
            (6) Unfunded inland waterways authorizations.--The term 
        ``unfunded inland waterways authorizations'' means, at any 
        time, the amount by which--
                    (A) the total amount authorized to be appropriated 
                or available for obligation from the Inland Waterways 
                Trust Fund that has not been appropriated or obligated; 
                exceeds
                    (B) the amount available in the Inland Waterways 
                Trust Fund at that time to make the appropriation.

SEC. 6. ENFORCEMENT.

    An officer or employee of the United States Government who fails to 
comply with this Act and the amendments made by this Act shall be 
subject to the penalties specified in section 1350 of title 31, United 
States Code.

SEC. 7. APPLICABILITY.

    This Act and the amendments made by this Act shall apply to 
authorizations and obligations made for fiscal years 1996 and 
thereafter.