II 109th CONGRESS 1st Session S. 422 IN THE SENATE OF THE UNITED STATES February 17, 2005 Mr. Lott (for himself and Mr. Kohl) introduced the following bill; which was read twice and referred to the Committee on Finance A BILL To amend the Internal Revenue Code of 1986 to restore equity and complete the transfer of motor fuel excise taxes attributable to motorboat and small engine fuels into the Aquatic Resources Trust Fund, and for other purposes.

1.

Short title

This Act may be cited as the Sportfishing and Boating Equity Act of 2005.

2.

All motor fuel excise taxes attributable to motorboat and small engine fuels available for transfer to Aquatic Resources Trust Fund

(a)

In general

Section 9503(b)(4) of the Internal Revenue Code of 1986 (relating to certain taxes not transferred to Highway Trust Fund) is amended by adding or at the end of subparagraph (B), by striking , or at the end of subparagraph (C) and inserting a period, and by striking subparagraph (D). (b)

Effective date

The amendments made by this section shall apply to taxes received in the Treasury after September 30, 2005.