(1) INCREASE.—Paragraph (4) of section
4091(b) is amended by striking ‘‘2.5 cents per gal-
lon’’ and inserting ‘‘5.5 cents per gallon’’.
(2) EXTENSION.—Subparagraph (D) of section
4091(b)(7) of such Code, as redesignated by the pre-
ceding section, is amended by striking ‘‘1995’’ and
inserting ‘‘1999’’.
(c) AVIATION FUEL.—
(1) IN
GENERAL.—Clause (ii) of section
4091(b)(1)(A) of such Code is amended by striking
‘‘financing rate and’’ and inserting ‘‘financing rate,
the aviation fuel deficit reduction financing rate,
and’’.
(2) 
AVIATION
FUEL
DEFICIT
REDUCTION
RATE.—
(A) IN GENERAL.—Subsection (b) of sec-
tion 4091 is amended by redesignating para-
graphs (5), (6), and (7) as paragraphs (6), (7),
and (8), respectively, and by inserting after
paragraph (4) the following new paragraph:
‘‘(5) AVIATION
FUEL
DEFICIT
REDUCTION
RATE.—For purposes of paragraph (1), except as
provided in subsection (d), the aviation fuel deficit
reduction rate is 3 cents per gallon.’’
(B) TERMINATION.—Paragraph (8) of sec-
tion 4091(b) of such Code, as redesignated by
subparagraph (A), is amended by adding at the
end thereof the following new subparagraph:
‘‘(E) The aviation fuel deficit reduction
rate shall not apply on and after October 1,
1999.’’
(C) 
The 
last 
sentence 
of 
section
4091(d)(1) of such Code is amended to read as
follows:
‘‘In the case of a sale described in subparagraph
(B), the Leaking Underground Storage Tank Trust
Fund financing rate and the aviation fuel deficit re-
duction rate be shall 10⁄9th of the otherwise applica-
ble such rates.’’
(d) EFFECTIVE DATE.—The amendments made by
this section shall take effect on January 1, 1994.
SEC. 203. INFRASTRUCTURE NOW FOR AMERICA’S-TOMOR-
ROW 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 follow-
ing new section:
‘‘SEC. 9512. INFRASTRUCTURE NOW FOR AMERICA’S-TO-
MORROW TRUST FUND.
‘‘(a) CREATION OF TRUST FUND.—There is estab-
lished in the Treasury of the United States a trust fund
to be known as the ‘Infrastructure Now For America’s-
Tomorrow Trust Fund’ (hereinafter in this section re-
ferred to as the ‘INFRA-Tomorrow Trust Fund’).
‘‘(b) TRANSFERS TO TRUST FUND.—There are here-
by appropriated to the INFRA-Tomorrow Trust Fund
amounts equivalent to the net revenues received in the
Treasury from the INFRA-Tomorrow Trust Fund taxes.
‘‘(c) EXPENDITURES FROM TRUST FUND.—Amounts
in the INFRA-Tomorrow Trust Fund shall be available,
as provided in appropriation Acts, for making expendi-
tures to carry out title I of the Infrastructure Now For
America’s-Tomorrow Act of 1993.
‘‘(d) AUTHORITY TO BORROW.—
‘‘(1) IN GENERAL.—There are authorized to be
appropriated to the INFRA-Tomorrow Trust Fund
as repayable advances such sums as may be nec-
essary to carry out the purposes of such Trust
Fund.
‘‘(2) LIMITATION ON AMOUNT OUTSTANDING.—
The maximum aggregate amount of repayable ad-
vances to the INFRA-Tomorrow Trust Fund which
is outstanding at any one time shall not exceed an
amount equal to the amount which the Secretary es-
timates will be equal to the sum of the amounts ap-
propriated to such Trust Fund under subsection (b)
during the following 24 months.
‘‘(3) REPAYMENT OF ADVANCES.—
‘‘(A) IN GENERAL.—Advances made to the
INFRA-Tomorrow Trust Fund shall be repaid,
and interest on such advances shall be paid, to
the general fund of the Treasury when the Sec-
retary determines that moneys are available for
such purposes in such Fund.
‘‘(B) FINAL PAYMENT.—No advance shall
be made to such Trust Fund after September
30, 1999, and all advances to such Trust Fund
shall be repaid on or before such date.
‘‘(C) RATE OF INTEREST.—Interest on ad-
vances made pursuant to this subsection shall
be at a rate determined by the Secretary of the
Treasury (as of the close of the calendar month
preceding the month in which the advance is
made) to be equal to the current average mar-
ket yield on outstanding marketable obligations
of the United States with remaining periods to
maturity comparable to the anticipated period
during which the advance will be outstanding
and shall be compounded annually.
‘‘(e) NET REVENUES.—For purposes of this sec-
tion—
‘‘(1) IN
GENERAL.—The term ‘net revenues’
means the amount estimated by the Secretary based
on the excess of—
‘‘(A) the INFRA-Tomorrow Trust Fund
taxes received in the Treasury, over
‘‘(B) the decrease in the tax imposed by
chapter 1 resulting from the INFRA-Tomorrow
Trust Fund taxes.
‘‘(2) 
INFRA-TOMORROW
TRUST
FUND
TAXES.—The term ‘INFRA-Tomorrow Trust Fund
taxes’ means the taxes imposed by sections 4041,
4081, and 4091 to the extent attributable to the
INFRA-Tomorrow Trust Fund financing rates
under such sections.
‘‘(f) TRANSFERS FROM TRUST FUND FOR CERTAIN
REPAYMENTS AND CREDITS.—
‘‘(1) IN
GENERAL.—The Secretary shall pay
from time to time from the INFRA-Tomorrow Trust
Fund into the general fund of the Treasury amounts
equivalent to—
‘‘(A) the payments under sections 6420,
6421, and 6427, and
‘‘(B) the credits allowed under section 34,
to the extent such payments and credits are attrib-
utable to the INFRA-Tomorrow Trust Fund taxes.
‘‘(2) TRANSFERS
BASED
ON
ESTIMATES.—
Transfers under paragraph (1) shall be made on the
basis of estimates by the Secretary, and proper ad-
justments shall be made in amounts subsequently
transferred to the extent prior estimates were in ex-
cess of or less than the amounts required to be
transferred.’’
(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. INFRA-Tomorrow Trust Fund.’’
SEC. 204. FLOOR STOCKS TAXES.
(a) IMPOSITION OF TAX.—There is hereby imposed
a floor stocks tax on gasoline, diesel fuel, and aviation fuel
on which tax was imposed under section 4081 or 4091
of the Internal Revenue Code of 1986 before January 1,
1994, and which is held on such date by any person.
(b) RATE OF TAX.—The rate of the tax imposed by
subsection (a) shall be 10.5 cents per gallon.
(c) LIABILITY
FOR TAX
AND METHOD
OF PAY-
MENT.—