[Congressional Bills 107th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2334 Introduced in House (IH)]







107th CONGRESS
  1st Session
                                H. R. 2334

 To amend the Internal Revenue Code of 1986 to dedicate revenues from 
   recent tobacco tax increases for use in buying out tobacco quota.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             June 27, 2001

    Mr. Burr of North Carolina (for himself and Mr. Jones of North 
  Carolina) introduced the following bill; which was referred to the 
   Committee on Ways and Means, and in addition to the Committee on 
Agriculture, 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 amend the Internal Revenue Code of 1986 to dedicate revenues from 
   recent tobacco tax increases for use in buying out tobacco quota.

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

SECTION 1. TOBACCO FARMER 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 the following new section:

``SEC. 9511. TOBACCO FARMER 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 `Tobacco Farmer 
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 Tobacco Farmer Trust Fund amounts equivalent to the taxes received 
after the date of the enactment of this section in the Treasury under 
chapter 52 (relating to cigars, cigarettes, smokeless tobacco, pipe 
tobacco, and cigarette papers and tubes) to the extent such amounts 
exceed the amounts that would have been received under the rates of tax 
that applied for 1999.
    ``(c) Expenditures.--Amounts in the Tobacco Farmer Trust Fund shall 
be available, as provided in appropriation Acts, only for purposes of 
making expenditures to carry out a program established by the Secretary 
of Agriculture to buyout tobacco quota and to study the future of 
growing tobacco in the United States.''
    (b) Clerical Amendment.--The table of sections for such subchapter 
is amended by adding at the end the following new item:

                              ``Sec. 9511. Tobacco Farmer Trust Fund.''

SEC. 2. ADVISORY COMMITTEE ON FUTURE OF GROWING TOBACCO IN THE UNITED 
              STATES.

    It is the sense of the Congress that--
            (1) there should be an advisory committee to advise the 
        Secretary of Agriculture as to how the Federal Government plans 
        to address tobacco growing in the future and how the future can 
        be more predictable and stable for tobacco growing in the 
        United States, and
            (2) such committee should be composed of representatives 
        appointed by the Majority Leader of the Senate, the Speaker of 
        the House of Representatives, and the President.
                                 <all>