Water Trust Fund Act of 2013

Bill: 113-hr-3582
Sponsor: full_name: Rep. Blumenauer, Earl [D-OR-3]
Introduced: 2013-11-21
Policy area: Environmental Protection
Subjects: Consumer affairs

Government trust funds

User charges and fees

Water quality

Water resources funding
Latest action: action_date: 2013-11-22
text: Referred to the Subcommittee on Environment and the Economy.

Summaries:
action_date: 2013-11-21
action_desc: Introduced in House
text: <p>Water Trust Fund Act of 2013 - Amends the Internal Revenue Code to establish in the Treasury a Water Infrastructure Investment Trust Fund. Appropriates to such Fund amounts equivalent to the fees received in the Treasury before January 1, 2019, under this Act.</p> <p>Requires 85% of amounts in the Fund to be available to the Administrator of the Environmental Protection Agency (EPA) for making capitalization grants under the Federal Water Pollution Control Act (commonly known as the Clean Water Act or CWA), and 15% to be available to the Secretary of the Treasury for carrying out the innovative financing program established under this Act.</p> <p>Prohibits amounts in the Fund from being made available for a fiscal year unless the amount of funds appropriated to the Clean Water State Revolving Fund through annual capitalization grants is not less than the average of the annual amounts provided in capitalization grants under the CWA for the immediately preceding five-fiscal-year period.</p> <p>Directs the Secretary to: (1) implement a program under which the Secretary provides a label suitable for placement on products (for a fee of three cents per unit) to inform consumers that the manufacturer, producer, or importer of the product and other stakeholders participate in the Fund and are contributing to America's clean water; and (2) deposit amounts received in the Treasury.</p> <p>Directs the Secretary to: (1) establish an innovative financing program to make financial assistance available for projects eligible for assistance from a state water pollution control revolving fund established pursuant to the CWA, and (2) model the program after the Transportation Infrastructure Finance and Innovation Act of 1998 program. </p>

tv_txt: I 113th CONGRESS 1st Session H. R. 3582 IN THE HOUSE OF REPRESENTATIVES November 21, 2013 Mr. Blumenauer (for himself, Mr. Hanna , Mr. Petri , Mr. Duncan of Tennessee , Mr. Whitfield , Mr. Moran , Mr. Bishop of New York , and Ms. Edwards ) introduced the following bill; which was referred to the Committee on Transportation and Infrastructure , and in addition to the Committees on Ways and Means and Energy and Commerce , for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned A BILL To establish a Water Infrastructure Investment Trust Fund, and for other purposes.

1. Short title This Act may be cited as the Water Trust Fund Act of 2013 . 2. Establishment and funding of Water Infrastructure Investment Trust Fund (a) Water Infrastructure Investment Trust Fund (1) In general Subchapter A of chapter 98 of the Internal Revenue Code of 1986 (relating to establishment of trust funds) is amended by adding at the end the following new section: 9512. Water Infrastructure Investment 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 Water Infrastructure Investment Trust Fund , consisting of such amounts as may be appropriated or credited to such fund as provided in this section or section 9602(b). (b) Transfers to trust fund There are hereby appropriated to the Water Infrastructure Investment Trust Fund amounts equivalent to the fees received in the Treasury before January 1, 2019, under section 2(b) of the Water Infrastructure Investment Act of 2013 . (c) Expenditures Except as provided by subsection (d), amounts in the Water Infrastructure Investment Trust Fund shall be available, without further appropriation, as follows: (1) 85 percent of the amounts shall be available to the Administrator of the Environmental Protection Agency for making capitalization grants under section 601 of the Federal Water Pollution Control Act ( 33 U.S.C. 1377 ). (2) 15 percent of the amounts shall be available to the Secretary of the Treasury for carrying out the innovative financing program established under section 3 of the Water Infrastructure Investment Act of 2013 . (d) Limitation on expenditures Amounts in the Water Infrastructure Investment Trust Fund may not be made available for a fiscal year unless the funds appropriated to the Clean Water State Revolving Fund through annual capitalization grants is not less than the average of the annual amounts provided in capitalization grants under section 601 of the Federal Water Pollution Control Act ( 33 U.S.C. 1381 ) for the 5-fiscal-year period immediately preceding such fiscal year. . (2) Clerical amendment The table of sections for subchapter A of chapter 98 of such Code is amended by adding at the end the following new item: Sec. 9512. Water Infrastructure Investment Trust Fund. . (b) Voluntary labeling system (1) In general The Secretary of the Treasury, in consultation with the Administrator of the Food and Drug Administration, manufacturers, producers, and importers, shall develop and implement a program under which the Secretary provides a label designed in consultation with manufacturers, producers, and importers suitable for placement on products to inform consumers that the manufacturer, producer, or importer of the product, and other stakeholders, participates in the Water Infrastructure Investment Trust Fund and is contributing to America’s clean water. (2) Fee The Secretary shall provide a label for a fee of three cents per unit. Amounts received by the Secretary shall be deposited in the general fund of the Treasury. (c) Effective date The amendments made by this section shall apply to taxable years beginning after the date of the enactment of this Act. 3. Establishment of innovative financing program (a) In general The Secretary of the Treasury shall establish an innovative financing program to make financial assistance available for projects eligible under section 603(c) of the Federal Water Pollution Control Act ( 33 U.S.C. 1383(c) ). (b) Use of TIFIA program as model The Secretary shall model the program after the Transportation Infrastructure Finance and Innovation Act of 1998 (TIFIA) program established in chapter 6 of title 23, United States Code. (c) Funding The Secretary shall carry out this section using funds made available for that purpose out of the Water Infrastructure Investment Trust Fund.