Definition: In this task, you are given text for US Congressional and California state bills, your task is to generate a summary for this bill.
Input: SECTION 1. SHORT TITLE.

This Act may be cited as the ''Truth in Water Transportation
Budgeting Act''.

SEC. 2. BUDGETARY TREATMENT OF INLAND WATERWAYS TRUST FUND AND HARBOR
MAINTENANCE TRUST FUND.

Notwithstanding any other provision of law, the receipts and
disbursements of the Inland Waterways Trust Fund and the Harbor
Maintenance Trust Fund--
(1) shall not be counted as new budget authority, outlays,
receipts, or deficit or surplus for purposes of--
(A) the budget of the United States Government as
submitted by the President,
(B) the congressional budget (including allocations
of budget authority and outlays provided therein), or
(C) the Balanced Budget and Emergency Deficit
Control Act of 1985; and
(2) shall be exempt from any general budget limitation
imposed by statute on expenditures and net lending (budget
outlays) of the United States Government.

SEC. 3. 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 Receipts.--Not later than March 31 of each year, the
Secretary of the Army, in consultation with the Secretary of the
Treasury, shall estimate--
(1) the amount which would (but for this section) be the
unfunded inland waterways authorizations and unfunded harbor
maintenance authorizations 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 fiscal year.
(b) Procedure if Excess Unfunded Inland Waterways 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 Unfunded 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 percentage which--
(A) such excess, is of
(B) the total of the amounts authorized to be
appropriated from the Inland Waterways Trust Fund or
the Harbor Maintenance Trust Fund, as the case may be,
for the next fiscal year.
(2) Adjustment of authorizations.--If the Secretary of the
Army determines a percentage under paragraph (1), each amount
authorized to be appropriated from the Trust Fund for the next fiscal
year shall be reduced by such percentage.
(d) Availability of Amounts Previously Withheld.--If, after an
adjustment has been made under subsection (c)(2), the Secretary of the
Army determines with respect to the Inland Waterways Trust Fund or the
Harbor Maintenance Trust Fund that the amount described in subsection
(a)(1) does not exceed the amount described in subsection (a)(2) or
that the excess referred to in subsection (b) with respect to the Trust
Fund is less than the amount previously determined, each amount
authorized to be appropriated that was reduced under subsection (c)(2)
with respect to the Trust Fund shall be increased, by an equal
percentage, to the extent the Secretary of the Army determines that it
may be so increased without causing the amount described in subsection
(a)(1) to exceed with respect to the Trust Fund the amount described in
subsection (a)(2) (but not by more than the amount of the reduction).
(e) Reports.--Any estimate under subsection (a) and any
determination under subsection (b), (c), or (d) shall be reported by
the Secretary of the Army to Congress.

SEC. 4. DEFINITIONS.

For purposes of this Act, the following definitions apply:
(1) Harbor maintenance trust fund.--The term ''Harbor
Maintenance Trust Fund'' means the Harbor Maintenance Trust
Fund established by section 9505 of the Internal Revenue Code
of 1986.
(2) Inland waterways trust fund.--The term ''Inland
Waterways Trust Fund'' means the Inland Waterways Trust Fund
established by section 9506 of the Internal Revenue Code of
1986.
(3) Net harbor maintenance receipts.--The term ''net harbor
maintenance receipts'' means, with respect to any period, the
receipts (including interest) of the Harbor Maintenance Trust
Fund during such period.
(4) Net inland waterways receipts.--The term ''net inland
waterways receipts'' means, with respect to any period, the
receipts (including interest) of the Inland Waterways Trust
Fund during such period.
(5) Unfunded inland waterways authorizations.--The term
''unfunded inland waterways authorizations'' means, at any
time, the excess (if any) of--
(A) the total amount authorized to be appropriated
from the Inland Waterways Trust Fund which has not been
appropriated, over
(B) the amount available in the Inland Waterways
Trust Fund at such time to make such appropriations.
(6) Unfunded harbor maintenance authorizations.--The term
''unfunded harbor maintenance authorizations'' means, at any
time, the excess (if any) of--
(A) the total amount authorized to be appropriated
from the Harbor Maintenance Trust Fund which has not
been appropriated, over
(B) the amount available in the Harbor Maintenance
Trust Fund at such time to make such appropriations.

SEC. 5. APPLICABILITY.

This Act shall apply to fiscal years beginning after September 30,
2001.
Output:
Truth in Water Transportation Budgeting Act - Prohibits the receipts and disbursements of the Inland Waterways Trust Fund and the Harbor Maintenance Trust Fund from being counted as new budget authority, outlays, receipts, or deficit or surplus for purposes of the Federal budget as submitted by the President, the congressional budget, or the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act). Exempts such trust funds from any general statutory budget outlays limitation.Requires the Secretary of the Army to estimate annually: (1) what, but for this Act, would be at the close of the next fiscal year the amount of unfunded inland waterways and harbor maintenance authorizations; and (2) the net inland waterways and harbor maintenance receipts at the close of such year.