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[Congressional Bills 103th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2274 Introduced in House (IH)]

103d CONGRESS
  1st Session
                                H. R. 2274

 To amend the Internal Revenue Code of 1986 to impose an excise tax on 
                the offshore processing of certain fish.

_______________________________________________________________________

                    IN THE HOUSE OF REPRESENTATIVES

                              May 26, 1993

 Mr. Kopetski 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 impose an excise tax on 
                the offshore processing of certain fish.

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

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Factory Trawler Equitable Tax Act of 
1993''.

SEC. 2. TAX ON OFFSHORE PROCESSING OF CERTAIN FISH.

    (a) General Rule.--Chapter 36 of the Internal Revenue Code of 1986 
(relating to certain other excise taxes) is amended by adding at the 
end thereof the following new subchapter:

       ``Subchapter G--Tax on Offshore Processing of Certain Fish

                              ``Sec. 4501. Imposition of tax.
                              ``Sec. 4502. Definitions.

``SEC. 4501. IMPOSITION OF TAX.

    ``(a) General Rule.--There is hereby imposed a tax on the 
processing of any taxable fish on a fish processing vessel.
    ``(b) Amount of Tax.--The amount of the tax imposed by subsection 
(a) per metric ton shall be 10 percent of the ex-vessel value (per 
metric ton) for unprocessed taxable fish.
    ``(c) Liability for Tax.--The tax imposed by subsection (a) shall 
be paid by the owner or operator of the vessel.
    ``(d) Weighing Devices.--The operator of any fish processing vessel 
shall have such fish weighing devices on such vessel as the Secretary 
determines to be necessary to determine the amount of the tax imposed 
by this section.

``SEC. 4502. DEFINITIONS.

    ``(a) Taxable Fish.--For purposes of this subchapter, the term 
`taxable fish' means any fish which is Pacific whiting and which is 
caught in a fishery regulated under the Magnuson Fishery Conservation 
and Management Act.
    ``(b) Fish Processing Vessel.--For purposes of this chapter, the 
term `fish processing vessel' has the meaning given such term by 
section 2101(11b) of title 46, United States Code.''
    (b) Clerical Amendments.--The table of subchapters for chapter 36 
of such Code is amended by adding at the end thereof the following new 
item:

                              ``Subchapter G. Tax on offshore 
                                        processing of certain fish.''
    (c) Effective Date.--The amendments made by this section shall take 
effect on the date of the enactment of this Act.

SEC. 3. FISHERIES RESEARCH TRUST FUND.

    (a) In General.--Subchapter A of chapter 98 of the Internal Revenue 
Code of 1986 (relating to trust fund code) is amended by adding at the 
end thereof the following new section:

``SEC. 9512. PACIFIC WHITING FISHERIES RESEARCH TRUST FUND.

    ``(a) Creation of Trust Fund.--There is established in the Treasury 
of the United States a trust fund to be known as the `Pacific Whiting 
Fisheries Research 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).
    ``(b) Transfers to Trust Fund.--There are hereby appropriated to 
the Pacific Whiting Fisheries Research Trust Fund amounts equivalent to 
the taxes received in the Treasury under section 4501.
    ``(c) Expenditures From Trust Fund.--
            ``(1) In general.--Amounts in the Pacific Whiting Fisheries 
        Research Trust Fund shall be available, as provided in 
        appropriation Acts, only for purposes of making expenditures 
        with respect to the Pacific whiting fishery for the following: 
        habitat restoration, restoration and rebuilding of fisheries 
        and fishing stock, and by-catch gear selectivity and reduction 
        research.
            ``(2) Allocation of amounts.--Of the amounts in the Pacific 
        Whiting Fisheries Trust Fund which are made available for 
        expenditure during any fiscal year--
                    ``(A) 40 percent shall be allocated for use by the 
                Secretary of Commerce, and
                    ``(B) 60 percent shall be allocated for use by the 
                States of Oregon, Washington, and California and such 
                amount shall be allocated among such States on the 
                basis of their respective percentages of the harvest of 
                Pacific whiting which takes place seaward of the coasts 
                of such States.''
    (b) Clerical Amendment.--The table of sections for such subchapter 
A is amended by adding at the end thereof the following new item:

                              ``Sec. 9512. Pacific Whiting Fisheries 
                                        Research Trust Fund.''

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