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‘‘(B) the total of the amounts authorized
to be appropriated from the Airport and Airway
Trust Fund for the next fiscal year.
‘‘(2) ADJUSTMENT
OF
AUTHORIZATIONS.—If
the Secretary determines a percentage under para-
graph (1), each amount authorized to be appro-
priated from the Airport and Airway Trust Fund for
the next fiscal year shall be reduced by such percent-
age.
‘‘(d) AVAILABILITY OF AMOUNTS PREVIOUSLY WITH-
HELD.—
‘‘(1) ADJUSTMENT
OF
AUTHORIZATIONS.—If,
after a reduction has been made under subsection
(c)(2), the Secretary determines that the amount de-
scribed in subsection (a)(1) does not exceed the
amount described in subsection (a)(2) or that the ex-
cess referred to in subsection (b) is less than the
amount previously determined, each amount author-
ized to be appropriated that was reduced under sub-
section (c)(2) shall be increased, by an equal per-
centage, to the extent the Secretary determines that
it may be so increased without causing the amount
described in subsection (a)(1) to exceed the amount
described in subsection (a)(2) (but not by more than
the amount of the reduction).
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‘‘(2) APPORTIONMENT.—The Secretary shall
apportion amounts made available for apportionment
by paragraph (1).
‘‘(3) PERIOD OF AVAILABILITY.—Any funds ap-
portioned under paragraph (2) shall remain available
for the period for which they would be available if
such apportionment took effect with the fiscal year
in which they are apportioned under paragraph (2).
‘‘(e) REPORTS.—Any estimate under subsection (a)
and any determination under subsection (b), (c), or (d)
shall be reported by the Secretary to Congress.
‘‘(f) DEFINITIONS.—For purposes of this section, the
following definitions apply:
‘‘(1) NET AVIATION RECEIPTS.—The term ‘net
aviation receipts’ means, with respect to any period,
the excess of—
‘‘(A) the receipts (including interest) of the
Airport and Airway Trust Fund during such
period, over
‘‘(B) the amounts to be transferred during
such period from the Airport and Airway Trust
Fund under section 9502(d) of the Internal
Revenue Code of 1986 (other than paragraph
(1) thereof).
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‘‘(2) UNFUNDED AVIATION AUTHORIZATIONS.—
The term ‘unfunded aviation authorization’ means,
at any time, the excess (if any) of—
‘‘(A) the total amount authorized to be ap-
propriated from the Airport and Airway Trust
Fund which has not been appropriated, over
‘‘(B) the amount available in the Airport
and Airway Trust Fund at such time to make
such appropriation (after all other unliquidated
obligations at such time which 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 striking
‘‘47131. Annual report.’’
and inserting the following:
‘‘47131. Safeguards against deficit spending.
‘‘47132. Annual report.’’.
SEC. 4. SAFEGUARDS AGAINST DEFICIT SPENDING OUT OF
THE INLAND WATERWAYS TRUST FUND AND
HARBOR MAINTENANCE TRUST FUND.
(a) ESTIMATES OF UNFUNDED INLAND WATERWAYS
AUTHORIZATIONS AND NET INLAND WATERWAYS RE-
CEIPTS.—Not later than March 31 of each year, the Sec-
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retary of the Army, in consultation with the Secretary of
the Treasury, shall estimate—
(1) the amount which would (but for this sec-
tion) be the unfunded inland waterways authoriza-
tions and unfunded harbor maintenance authoriza-
tions at the close 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 close of such fis-
cal year.
(b) PROCEDURE IF EXCESS UNFUNDED INLAND WA-
TERWAYS AUTHORIZATIONS.—If the Secretary of the
Army determines with respect to the Inland Waterways
Trust Fund or the Harbor Maintenance Trust Fund for
any fiscal year that the amount described in subsection
(a)(1) exceeds the amount described in subsection (a)(2),
the Secretary shall determine the amount of such excess.
(c) ADJUSTMENT
OF
AUTHORIZATIONS
IF
UN-
FUNDED AUTHORIZATIONS EXCEED RECEIPTS.—
(1) DETERMINATION OF PERCENTAGE.—If the
Secretary of the Army determines that there is an
excess referred to in subsection (b) for a fiscal year,
the Secretary of the Army shall determine the per-
centage which—
(A) such excess, is of