I

104TH CONGRESS

1ST SESSION H. R. 2246

To amend the Internal Revenue Code of 1986 to provide for designation

of overpayments and contributions to the United States Library Trust

Fund, and for other purposes.

IN THE HOUSE OF REPRESENTATIVES

AUGUST 4, 1995

Mr. SERRANO introduced the following bill; which was referred to the

Committee on Ways and Means

A BILL

To amend the Internal Revenue Code of 1986 to provide

for designation of overpayments and contributions to the

United States Library Trust Fund, and for other purposes.

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled,

3 SECTION 1. SHORT TITLE.

4 This Act may be cited as the ‘‘United States Library

5 Trust Fund Act’’.

6 SEC. 2. UNITED STATES LIBRARY TRUST FUND.

7 (a) DESIGNATION OF OVERPAYMENTS AND CON8 TRIBUTIONS FOR UNITED STATES LIBRARY TRUST
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1 FUND.—Subchapter A of chapter 61 of the Internal Reve2 nue Code of 1986 is amended by adding at the end the

3 following new part:

4 ‘‘PART IX—DESIGNATION OF OVERPAYMENTS

5 AND CONTRIBUTIONS FOR UNITED STATES

6 LIBRARY TRUST FUND

‘‘Sec. 6097. Designation.

7 ‘‘SEC. 6097. DESIGNATION.

8 ‘‘(a) IN GENERAL.—In the case of an individual, with

9 respect to each return of the taxpayer for the taxable year

10 of the tax imposed by chapter 1, such taxpayer may des11 ignate that—

12 ‘‘(1) $1 of any overpayment of tax for such tax13 able year, and

14 ‘‘(2) any cash contribution which the taxpayer

15 includes with such return,

16 shall be paid over to the United States Library Trust

17 Fund in accordance with the provisions of section 9512.

18 In the case of a joint return with respect to which an over19 payment of $2 or more is due, each spouse may designate

20 that $1 shall be paid to such trust fund.

21 ‘‘(b) MANNER AND TIME OF DESIGNATION.—A des22 ignation under subsection (a) may be made with respect

23 to any taxable year—
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1 ‘‘(1) at the time of filing the return of the tax

2 imposed by chapter 1 for such taxable year, or

3 ‘‘(2) at any other time (after the time of filing

4 the return of the tax imposed by chapter 1 for such

5 taxable year) specified in regulations prescribed by

6 the Secretary.

7 Such designation shall be made in such manner as the

8 Secretary prescribes by regulations except that such des9 ignation shall be made either on the first page of the re10 turn or on the page bearing the taxpayer’s signature.

11 ‘‘(c) OVERPAYMENTS TREATED AS REFUNDED.—For

12 purposes of this title, any portion of an overpayment of

13 tax designated under subsection (a) shall be treated as

14 being refunded to the taxpayer as of the last date pre15 scribed for filing the return of tax imposed by chapter 1

16 (determined without regard to extensions).’’

17 (b) CREATION OF TRUST FUND.—Subchapter A of

18 chapter 98 of such Code is amended by adding at the end

19 the following new section:

20 ‘‘SEC. 9512. UNITED STATES LIBRARY TRUST FUND.

21 ‘‘(a) CREATION OF TRUST FUND.—There is estab22 lished in the Treasury of the United States a trust fund

23 to be known as the ‘United States Library Trust Fund’,

24 consisting of such amounts as may be credited or paid to

25 such trust fund as provided in section 6097.
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1 ‘‘(b) TRANSFERS TO TRUST FUND.—There are here2 by appropriated to the United States Library Trust Fund

3 amounts equivalent to—

4 ‘‘(1) the amounts of the overpayments of tax to

5 which designations under section 6097 apply, and

6 ‘‘(2) the amounts of contributions made under

7 such section to such trust fund.

8 ‘‘(c) EXPENDITURES FROM TRUST FUND.—Amounts

9 in the United States Library Trust Fund shall be avail10 able, as provided in appropriation Acts, only for purposes

11 of making expenditures to carry out section 3 of the Unit12 ed States Library Trust Fund Act.’’

13 (c) CLERICAL AMENDMENTS.—

14 (1) The table of parts for subchapter A of chap15 ter 61 of such Code is amended by adding at the

16 end the following new item:

‘‘Part IX. Designation of overpayments and contributions for

United States Library Trust Fund.’’

17 (2) The table of sections for subchapter A of

18 chapter 98 of such Code is amended by adding at

19 the end the following new item:

‘‘Sec. 9512. United States Library Trust Fund.’’

20 (d) EFFECTIVE DATE.—The amendments made by

21 this section shall apply to taxable years ending after the

22 date of the enactment of this Act.
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1 SEC. 3. GRANTS TO LIBRARIES.

2 (a) ELIGIBILITY OF PUBLIC LIBRARIES AND PUBLIC

3 SCHOOL LIBRARIES.—A public library or public school li4 brary is eligible to receive a grant under this section from

5 the United States Library Trust Fund established pursu6 ant to section 9512 of the Internal Revenue Code of 1986

7 for any fiscal year by submitting an application to the Of8 fice of Library Services that includes—

9 (1) certification that the library does not have

10 the financial resources available to purchase new

11 books or collections;

12 (2) assurances that funds received under this

13 section will be used only to purchase materials for

14 the library;

15 (3) assurances that funds received under this

16 section will be used to supplement, not supplant,

17 other funds received by such library; and

18 (4) an agreement to make available any finan19 cial records that the Office of Library Services may

20 need for audit purposes.

21 (b) GRANT SELECTION.—The Office of Library Serv22 ices shall select the number of grant awards made under

23 this section and the amount of each such award based

24 upon economic need in accordance with regulations pub25 lished by the Office.

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