110 HR 3722 IH: To amend the Internal Revenue Code of 1986 to allow for U.S. House of Representatives 2007-10-02 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

I 110th CONGRESS 1st Session H. R. 3722 IN THE HOUSE OF REPRESENTATIVES October 2, 2007 Mr. English of Pennsylvania introduced the following bill; which was referred to the Committee on Ways and Means, and in addition to the Committee on Transportation and Infrastructure, 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 allow for expenditures from the Harbor Maintenance Trust Fund for certain harbor construction activities, and for other purposes.

1.

Automatic expenditures from Harbor Maintenance Trust Fund

(a)

In general

Section 9505 of the Internal Revenue Code of 1986 (relating to Harbor Maintenance Trust Fund) is amended by adding at the end the following new subsection: (d)

Automatic expenditures from Harbor Maintenance Trust Fund

(1)

In general

Amounts in the Harbor Maintenance Trust Fund shall be available, without regard to appropriation Acts, for making expenditures for the payment of 100 percent of the Federal share of harbor construction activities by the Secretary of the Army related to preserving geological structures which create natural harbors. (2)

Permitted expenditures

Appropriate expenditures permitted under paragraph (1) shall consist of— (A)annual shoreline erosion control projects, including breakwater construction and sand replenishment, and (B)an environmental mitigation or remediation component. (3)

Project prioritization

In weighing whether a project contains an environmental mitigation or remediation component, the Secretary of the Army shall give priority to those projects containing a critical habitat (as defined by the Endangered Species Act of 1973). (4)

Limitations

(A)

Limitation based on annual project limitation

(i)

In general

Amounts made available under paragraph (1) for any fiscal year for a project shall not exceed the annual project limitation. (ii)

Annual project limitation

(I)

Surplus year

If the Secretary certifies that the Harbor Maintenance Trust Fund is projected to have a surplus for a fiscal year, the annual project limitation for that fiscal year is $2,000,000 per project. (II)

Nonsurplus year

If the Secretary certifies that the Harbor Maintenance Trust Fund is projected not to have a surplus for that fiscal year, the annual project limitation for that fiscal year is zero. (iii)

Annual certification

The Secretary shall, prior to the start of any Federal fiscal year, certify to Congress whether the Harbor Maintenance Trust Fund is projected to have a surplus in excess of $2,000,000 for that fiscal year (determined without regard to this subsection). (B)

Limitation based on amounts in Fund

Amounts may not be made available for a project under paragraph (1) if doing so would result in a deficit in the Harbor Maintenance Trust Fund. . (b)

Effective date

The amendment made by subsection (a) shall apply to expenditures from the Harbor Maintenance Trust Fund for fiscal years beginning after the date of the enactment of this Act.