II

104TH CONGRESS

1ST SESSION S. 729

To provide off-budget treatment for the Highway Trust Fund, the Airport

and Airway Trust Fund, the Inland Waterways Trust Fund, and the

Harbor Maintenance Trust Fund, and for other purposes.

IN THE SENATE OF THE UNITED STATES

APRIL 27 (legislative day, APRIL 24), 1995

Mr. BAUCUS (for himself and Mr. LOTT) introduced the following bill; which

was read twice and referred jointly pursuant to the order of August 4,

1977, to the Committees on the Budget and Governmental Affairs, with

instructions that if one Committee reports, the other Committee have

thirty days to report or be discharged

A BILL

To provide off-budget treatment for the Highway Trust

Fund, the Airport and Airway Trust Fund, the Inland

Waterways Trust Fund, and the Harbor Maintenance

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 ‘‘Trust Fund Restora5 tion Act of 1995’’.

6 SEC. 2. DEFINITIONS.

7 In this Act:
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1 (1) AIRPORT AND AIRWAY TRUST FUND.—The

2 term ‘‘Airport and Airway Trust Fund’’ means the

3 Airport and Airway Trust Fund established by sec4 tion 9502 of the Internal Revenue Code of 1986.

5 (2) HARBOR MAINTENANCE TRUST FUND.—The

6 term ‘‘Harbor Maintenance Trust Fund’’ means the

7 Harbor Maintenance Trust Fund established by sec8 tion 9505 of the Internal Revenue Code of 1986.

9 (3) HIGHWAY TRUST FUND.—The term ‘‘High10 way Trust Fund’’ means the Highway Trust Fund

11 established by section 9503 of the Internal Revenue

12 Code of 1986.

13 (4) INLAND WATERWAYS TRUST FUND.—The

14 term ‘‘Inland Waterways Trust Fund’’ means the

15 Inland Waterways Trust Fund established by section

16 9506 of the Internal Revenue Code of 1986.

17 SEC. 3. BUDGETARY TREATMENT OF HIGHWAY TRUST

18 FUND, AIRPORT AND AIRWAY TRUST FUND,

19 INLAND WATERWAYS TRUST FUND, AND HAR20 BOR MAINTENANCE TRUST FUND.

21 (a) IN GENERAL.—The receipts and disbursements

22 of the Highway Trust Fund, the Airport and Airway Trust

23 Fund, the Inland Waterways Trust Fund, and the Harbor

24 Maintenance Trust Fund—

25 (1) shall not be included in the totals of—
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1 (A) the budget of the United States Gov2 ernment as submitted by the President under

3 section 1105 of title 31, United States Code; or

4 (B) the congressional budget (including al5 locations of budget authority and outlays pro6 vided in the congressional budget);

7 (2) shall not be—

8 (A) considered to be part of any category

9 (as defined in section 250(c)(4) of the Balanced

10 Budget and Emergency Deficit Control Act of

11 1985 (2 U.S.C. 900(c)(4))) of discretionary ap12 propriations; or

13 (B) subject to the discretionary spending

14 limits established under section 251(b) of the

15 Act (2 U.S.C. 901(b));

16 (3) shall not be subject to sequestration under

17 section 251(a) of the Act (2 U.S.C. 901(a)); and

18 (4) shall be exempt from any general budget

19 limitation imposed by statute on expenditures and

20 net lending (budget outlays) of the United States

21 Government.

22 (b) DISBURSEMENTS SUBJECT TO APPROPRIA23 TIONS.—The disbursements referred to in subsection (a)

24 shall be subject to appropriations.
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1 SEC. 4. SAFEGUARDS AGAINST DEFICIT SPENDING OUT OF

2 AIRPORT AND AIRWAY TRUST FUND.

3 (a) IN GENERAL.—Chapter 471 of title 49, United

4 States Code, is amended by inserting after section 47129

5 the following:

6 ‘‘§ 47130. Safeguards against deficit spending

7 ‘‘(a) ESTIMATES OF UNFUNDED AVIATION AUTHOR8 IZATIONS AND NET AVIATION RECEIPTS.—Not later than

9 March 31 of each year, the Secretary, in consultation with

10 the Secretary of the Treasury, shall estimate—

11 ‘‘(1) the amount that would (but for this sec12 tion) constitute the unfunded aviation authorizations

13 at the termination of the first fiscal year that begins

14 after that March 31; and

15 ‘‘(2) the net aviation receipts at the termination

16 of the fiscal year referred to in paragraph (1).

17 ‘‘(b) PROCEDURE IF EXCESS UNFUNDED AVIATION

18 AUTHORIZATIONS.—If, with respect to a fiscal year, the

19 Secretary determines that the amount described in sub20 section (a)(1) exceeds the amount described in subsection

21 (a)(2), the Secretary shall determine the amount of the

22 excess.

23 ‘‘(c) ADJUSTMENT OF AUTHORIZATIONS IF UN24 FUNDED AUTHORIZATIONS EXCEED RECEIPTS.—

25 ‘‘(1) DETERMINATION OF PERCENTAGE.—If the

26 Secretary determines, in accordance with subsection
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1 (b), that there is an excess amount with respect to

2 a fiscal year, the Secretary shall determine the per3 centage that the excess amount is of the sum of—

4 ‘‘(A) the amounts authorized to be appro5 priated from the Airport and Airway Trust

6 Fund for the next fiscal year; and

7 ‘‘(B) the amounts available for obligation

8 from the Airport and Airway Trust Fund for

9 the next fiscal year.

10 ‘‘(2) ADJUSTMENT OF AUTHORIZATIONS.—If

11 the Secretary determines, in accordance with sub12 section (b), that there is an excess amount with re13 spect to a fiscal year, each amount authorized to be

14 appropriated or available for obligation from the Air15 port and Airway Trust Fund for the next fiscal year

16 shall be reduced by the percentage determined in ac17 cordance with paragraph (1).

18 ‘‘(d) AVAILABILITY OF AMOUNTS PREVIOUSLY WITH19 HELD.—

20 ‘‘(1) ADJUSTMENT OF AUTHORIZATIONS.—Any

21 amount authorized to be appropriated or available

22 for obligation from the Airport and Airway Trust

23 Fund that is reduced under subsection (c)(2) shall

24 be further adjusted in accordance with paragraph

25 (2) if, after an adjustment has been made under
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1 subsection (c)(2) for a fiscal year, the Secretary de2 termines that, with respect to the fiscal year—

3 ‘‘(A) the amount described in subsection

4 (a)(1) does not exceed the amount described in

5 subsection (a)(2); or

6 ‘‘(B) an excess amount determined under

7 subsection (b) is less than an excess amount de8 termined as a result of a previous determina9 tion.

10 ‘‘(2) ADJUSTMENT.—Each amount that is sub11 ject to a further adjustment under paragraph (1)

12 shall be increased by an equal percentage deter13 mined by the Secretary under paragraph (3).

14 ‘‘(3) PERCENTAGE.—

15 ‘‘(A) IN GENERAL.—Subject to subpara16 graph (B), the percentage referred to in para17 graph (2) shall be the maximum percentage

18 that does not cause the amount described in

19 subsection (a)(1) to exceed the amount de20 scribed in subsection (a)(2).

21 ‘‘(B) LIMITATION.—The amount of any in22 crease determined under this subsection may

23 not exceed the amount of the corresponding re24 duction under subsection (c)(2).
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1 ‘‘(4) APPORTIONMENT.—The total amount of

2 any increases determined for a fiscal year under

3 paragraph (3) shall be made available to the Sec4 retary for apportionment. The Secretary shall appor5 tion the amount in accordance with this subsection.

6 ‘‘(5) PERIOD OF AVAILABILITY.—Any funds ap7 portioned under paragraph (4) shall remain available

8 for the period for which the funds would be available

9 if the apportionment were made under appropria10 tions and obligations for the fiscal year in which the

11 funds are apportioned under paragraph (4).

12 ‘‘(e) REPORTS.—The Secretary shall report to Con13 gress—

14 ‘‘(1) any estimate made under subsection (a);

15 and

16 ‘‘(2) any determination made under subsection

17 (b), (c), or (d).

18 ‘‘(f) DEFINITIONS.—In this section:

19 ‘‘(1) AIRPORT AND AIRWAY TRUST FUND.—The

20 term ‘Airport and Airway Trust Fund’ means the

21 Airport and Airway Trust Fund established by sec22 tion 9502 of the Internal Revenue Code of 1986.

23 ‘‘(2) NET AVIATION RECEIPTS.—The term ‘net

24 aviation receipts’ means, with respect to any period,

25 the amount by which—
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1 ‘‘(A) the receipts (including interest) of the

2 Airport and Airway Trust Fund during the pe3 riod; exceeds

4 ‘‘(B) the amounts to be transferred during

5 the period from the Airport and Airway Trust

6 Fund under section 9502(d) of the Internal

7 Revenue Code of 1986 (other than under sec8 tion 9502(d)(1) of the Code).

9 ‘‘(3) SECRETARY.—The term ‘Secretary’ means

10 the Secretary of Transportation.

11 ‘‘(4) UNFUNDED AVIATION AUTHORIZATIONS.—

12 The term ‘unfunded aviation authorization’ means,

13 at any time, the amount by which—

14 ‘‘(A) the total amount authorized to be ap15 propriated or available for obligation from the

16 Airport and Airway Trust Fund that has not

17 been appropriated or obligated; exceeds

18 ‘‘(B) the amount available in the Airport

19 and Airway Trust Fund at that time to make

20 the appropriation or to liquidate the obligation

21 (after all other unliquidated obligations at that

22 time that are payable from the Airport and Air23 way Trust Fund have been liquidated).’’.
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1 (b) CONFORMING AMENDMENT.—The analysis for

2 chapter 471 of title 49, United States Code, is amended

3 by adding at the end of subchapter I the following:

‘‘47130. Safeguards against deficit spending.’’.

4 SEC. 5. SAFEGUARDS AGAINST DEFICIT SPENDING OUT OF

5 INLAND WATERWAYS TRUST FUND AND HAR6 BOR MAINTENANCE TRUST FUND.

7 (a) ESTIMATES OF UNFUNDED INLAND WATERWAYS

8 AUTHORIZATIONS AND NET INLAND WATERWAYS RE9 CEIPTS.—Not later than March 31 of each year, the Sec10 retary, in consultation with the Secretary of the Treasury,

11 shall estimate—

12 (1) the amount that would (but for this section)

13 constitute the unfunded inland waterways authoriza14 tions and unfunded harbor maintenance authoriza15 tions at the termination of the first fiscal year that

16 begins after that March 31; and

17 (2) the net inland waterways receipts and net

18 harbor maintenance receipts at the termination of

19 the fiscal year referred to in paragraph (1).

20 (b) PROCEDURE IF EXCESS UNFUNDED AUTHORIZA21 TIONS.—If, with respect to a fiscal year, the Secretary de22 termines with respect to a Trust Fund that the amount

23 described in subsection (a)(1) exceeds the amount de24 scribed in subsection (a)(2), the Secretary shall determine

25 the amount of the excess.
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1 (c) ADJUSTMENT OF AUTHORIZATIONS IF UN2 FUNDED AUTHORIZATIONS EXCEED RECEIPTS.—

3 (1) DETERMINATION OF PERCENTAGE.—If the

4 Secretary determines, in accordance with subsection

5 (b), that there is an excess amount with respect to

6 a fiscal year, the Secretary shall determine the per7 centage that the excess amount is of the sum of—

8 (A) the amounts authorized to be appro9 priated from the Trust Fund for the next fiscal

10 year; and

11 (B) the amounts available for obligation

12 from the Trust Fund for the next fiscal year.

13 (2) ADJUSTMENT OF AUTHORIZATIONS.—If the

14 Secretary determines, in accordance with subsection

15 (b), that there is an excess amount with respect to

16 a fiscal year, each amount authorized to be appro17 priated or available for obligation from the Trust

18 Fund for the next fiscal year shall be reduced by the

19 percentage determined in accordance with paragraph

20 (1).

21 (d) AVAILABILITY OF AMOUNTS PREVIOUSLY WITH22 HELD.—

23 (1) INCREASE OF AUTHORIZATIONS.—Any

24 amount authorized to be appropriated or available

25 for obligation from a Trust Fund that is reduced
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1 under subsection (c)(2) shall be further adjusted in

2 accordance with paragraph (2) if, after an adjust3 ment has been made under subsection (c)(2) for a

4 fiscal year with respect to the Trust Fund, the Sec5 retary determines that, with respect to the Trust

6 Fund and the fiscal year—

7 (A) the amount described in subsection

8 (a)(1) does not exceed the amount described in

9 subsection (a)(2); or

10 (B) an excess amount determined under

11 subsection (b) is less than an excess amount de12 termined as a result of a previous determina13 tion.

14 (2) ADJUSTMENT.—Each amount that is sub15 ject to a further adjustment under paragraph (1)

16 shall be increased by an equal percentage deter17 mined by the Secretary under paragraph (3).

18 (3) PERCENTAGE.—

19 (A) IN GENERAL.—Subject to subpara20 graph (B), the percentage referred to in para21 graph (2) shall be the maximum percentage

22 that does not cause the amount described in

23 subsection (a)(1) to exceed the amount de24 scribed in subsection (a)(2) with respect to the

25 Trust Fund.
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1 (B) LIMITATION.—The amount of any in2 crease determined under this subsection may

3 not exceed the amount of the corresponding re4 duction under subsection (c)(2).

5 (e) REPORTS.—The Secretary shall report to Con6 gress—

7 (1) any estimate made under subsection (a);

8 and

9 (2) any determination made under subsection

10 (b), (c), or (d).

11 (f) DEFINITIONS.—In this section:

12 (1) NET HARBOR MAINTENANCE RECEIPTS.—

13 The term ‘‘net harbor maintenance receipts’’ means,

14 with respect to any period, the receipts (including in15 terest) of the Harbor Maintenance Trust Fund dur16 ing the period.

17 (2) NET INLAND WATERWAYS RECEIPTS.—The

18 term ‘‘net inland waterways receipts’’ means, with

19 respect to any period, the receipts (including inter20 est) of the Inland Waterways Trust Fund during the

21 period.

22 (3) SECRETARY.—The term ‘‘Secretary’’ means

23 the Secretary of the Army.

24 (4) TRUST FUND.—The term ‘‘Trust Fund’’

25 means the Inland Waterways Trust Fund or the
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1 Harbor Maintenance Trust Fund, as the case may

2 be.

3 (5) UNFUNDED HARBOR MAINTENANCE AU4 THORIZATIONS.—The term ‘‘unfunded harbor main5 tenance authorizations’’ means, at any time, the

6 amount by which—

7 (A) the total amount authorized to be ap8 propriated or available for obligation from the

9 Harbor Maintenance Trust Fund that has not

10 been appropriated or obligated; exceeds

11 (B) the amount available in the Harbor

12 Maintenance Trust Fund at that time to make

13 the appropriation.

14 (6) UNFUNDED INLAND WATERWAYS AUTHOR15 IZATIONS.—The term ‘‘unfunded inland waterways

16 authorizations’’ means, at any time, the amount by

17 which—

18 (A) the total amount authorized to be ap19 propriated or available for obligation from the

20 Inland Waterways Trust Fund that has not

21 been appropriated or obligated; exceeds

22 (B) the amount available in the Inland

23 Waterways Trust Fund at that time to make

24 the appropriation.
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1 SEC. 6. ENFORCEMENT.

2 An officer or employee of the United States Govern3 ment who fails to comply with this Act and the amend4 ments made by this Act shall be subject to the penalties

5 specified in section 1350 of title 31, United States Code.

6 SEC. 7. APPLICABILITY.

7 This Act and the amendments made by this Act shall

8 apply to authorizations and obligations made for fiscal

9 years 1996 and thereafter.

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