[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[S. 1238 Introduced in Senate (IS)]







110th CONGRESS
  1st Session
                                S. 1238

 To repeal certain provisions of the Energy Policy Act of 2005, close 
  tax loopholes, impose windfall profits tax on major integrated oil 
      companies, provide a reserve fund for biofuels research and 
        infrastructure, and payments for low-income households.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             April 26, 2007

  Mr. Casey (for himself and Mr. Webb) introduced the following bill; 
     which was read twice and referred to the Committee on Finance

_______________________________________________________________________

                                 A BILL


 
 To repeal certain provisions of the Energy Policy Act of 2005, close 
  tax loopholes, impose windfall profits tax on major integrated oil 
      companies, provide a reserve fund for biofuels research and 
        infrastructure, and payments for low-income households.

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

SECTION 1. SHORT TITLE; AMENDMENT OF 1986 CODE.

    (a) Short Title.--This Act may be cited as the ``Energy Security 
and Corporate Accountability Act of 2007''.
    (b) Amendment of 1986 Code.--Except as otherwise expressly 
provided, whenever in this Act an amendment or repeal is expressed in 
terms of an amendment to, or repeal of, a section or other provision, 
the reference shall be considered to be made to a section or other 
provision of the Internal Revenue Code of 1986.

SEC. 2. REVALUATION OF LIFO INVENTORIES OF MAJOR INTEGRATED OIL 
              COMPANIES.

    (a) General Rule.--Notwithstanding any other provision of law, if a 
taxpayer is a major integrated oil company (as defined in section 
167(h)(5)(B)) for its last taxable year ending in calendar year 2006, 
the taxpayer shall--
            (1) increase, effective as of the close of such taxable 
        year, the value of each historic LIFO layer of inventories of 
        crude oil, natural gas, or any other petroleum product (within 
        the meaning of section 4611) by the layer adjustment amount, 
        and
            (2) decrease its cost of goods sold for such taxable year 
        by the aggregate amount of the increases under paragraph (1).
If the aggregate amount of the increases under paragraph (1) exceed the 
taxpayer's cost of goods sold for such taxable year, the taxpayer's 
gross income for such taxable year shall be increased by the amount of 
such excess.
    (b) Layer Adjustment Amount.--For purposes of this section--
            (1) In general.--The term ``layer adjustment amount'' 
        means, with respect to any historic LIFO layer, the product 
        of--
                    (A) $18.75, and
                    (B) the number of barrels of crude oil (or in the 
                case of natural gas or other petroleum products, the 
                number of barrel-of-oil equivalents) represented by the 
                layer.
            (2) Barrel-of-oil equivalent.--The term ``barrel-of-oil 
        equivalent'' has the meaning given such term by section 45K.
    (c) Application of Requirement.--
            (1) No change in method of accounting.--Any adjustment 
        required by this section shall not be treated as a change in 
        method of accounting.
            (2) Underpayments of estimated tax.--No addition to the tax 
        shall be made under section 6655 (relating to failure by 
        corporation to pay estimated tax) with respect to any 
        underpayment of an installment required to be paid with respect 
        to the taxable year described in subsection (a) to the extent 
        such underpayment was created or increased by this section.

SEC. 3. MODIFICATIONS OF FOREIGN TAX CREDIT RULES APPLICABLE TO MAJOR 
              INTEGRATED OIL COMPANIES WHICH ARE DUAL CAPACITY 
              TAXPAYERS.

    (a) In General.--Section 901 (relating to credit for taxes of 
foreign countries and of possessions of the United States) is amended 
by redesignating subsection (m) as subsection (n) and by inserting 
after subsection (l) the following new subsection:
    ``(m) Special Rules Relating to Major Integrated Oil Companies 
Which Are Dual Capacity Taxpayers.--
            ``(1) General rule.--Notwithstanding any other provision of 
        this chapter, any amount paid or accrued by a dual capacity 
        taxpayer which is a major integrated oil company (as defined in 
        section 167(h)(5)(B)) to a foreign country or possession of the 
        United States for any period shall not be considered a tax--
                    ``(A) if, for such period, the foreign country or 
                possession does not impose a generally applicable 
                income tax, or
                    ``(B) to the extent such amount exceeds the amount 
                (determined in accordance with regulations) which--
                            ``(i) is paid by such dual capacity 
                        taxpayer pursuant to the generally applicable 
                        income tax imposed by the country or 
                        possession, or
                            ``(ii) would be paid if the generally 
                        applicable income tax imposed by the country or 
                        possession were applicable to such dual 
                        capacity taxpayer.
                Nothing in this paragraph shall be construed to imply 
                the proper treatment of any such amount not in excess 
                of the amount determined under subparagraph (B).
            ``(2) Dual capacity taxpayer.--For purposes of this 
        subsection, the term `dual capacity taxpayer' means, with 
        respect to any foreign country or possession of the United 
        States, a person who--
                    ``(A) is subject to a levy of such country or 
                possession, and
                    ``(B) receives (or will receive) directly or 
                indirectly a specific economic benefit (as determined 
                in accordance with regulations) from such country or 
                possession.
            ``(3) Generally applicable income tax.--For purposes of 
        this subsection--
                    ``(A) In general.--The term `generally applicable 
                income tax' means an income tax (or a series of income 
                taxes) which is generally imposed under the laws of a 
                foreign country or possession on income derived from 
                the conduct of a trade or business within such country 
                or possession.
                    ``(B) Exceptions.--Such term shall not include a 
                tax unless it has substantial application, by its terms 
                and in practice, to--
                            ``(i) persons who are not dual capacity 
                        taxpayers, and
                            ``(ii) persons who are citizens or 
                        residents of the foreign country or 
                        possession.''.
    (b) Effective Date.--
            (1) In general.--The amendments made by this section shall 
        apply to taxes paid or accrued in taxable years beginning after 
        the date of the enactment of this Act.
            (2) Contrary treaty obligations upheld.--The amendments 
        made by this section shall not apply to the extent contrary to 
        any treaty obligation of the United States.

SEC. 4. 7-YEAR AMORTIZATION OF GEOLOGICAL AND GEOPHYSICAL EXPENDITURES 
              FOR CERTAIN MAJOR INTEGRATED OIL COMPANIES.

    (a) In General.--Subparagraph (A) of section 167(h)(5) (relating to 
special rule for major integrated oil companies) is amended by striking 
``5-year'' and inserting ``7-year''.
    (b) Effective Date.--The amendment made by this section shall apply 
to amounts paid or incurred after the date of the enactment of this 
Act.

SEC. 5. SUSPENSION OF ROYALTY RELIEF.

    (a) Repeals.--Sections 344 and 345 of the Energy Policy Act of 2005 
(42 U.S.C. 15904, 15905) are repealed.
    (b) Termination of Alaska Offshore Royalty Suspension.--Section 
8(a)(3)(B) of the Outer Continental Shelf Lands Act (43 U.S.C. 
1337(a)(3)(B)) is amended by striking ``and in the Planning Areas 
offshore Alaska''.

SEC. 6. NATIONAL ENERGY SECURITY RESEARCH AND INVESTMENT RESERVE.

    (a) Establishment.--For budgetary purposes, for each fiscal year, 
an amount equal to the total net amount of savings to the Federal 
Government for the fiscal year resulting from the amendments made by 
sections 2, 3, 4, and 5, as determined by the Secretary of the 
Treasury, shall be held in a separate account in the Treasury of the 
United States, to be known as the ``National Energy Security Research 
and Investment Reserve'' (referred to in this section as the 
``Reserve'').
    (b) Use.--Of the amounts in the Reserve--
            (1) 50 percent shall be available to offset the cost of 
        legislation enacted after the date of enactment of this Act to 
        carry out energy research in the United States, including 
        research relating to--
                    (A) ethanol, and
                    (B) biodiesel, and
            (2) 50 percent shall be available to offset the cost of 
        legislation enacted after the date of enactment of this Act to 
        carry out the development, purchase, and installation of 
        infrastructure (including new fueling pumps, retrofitting of 
        existing fueling pumps, and equipment necessary for the 
        transportation of biofuels) necessary to deliver new fuels to 
        consumers.
    (c) Procedure for Adjustments.--
            (1) Budget committee chairman.--After the reporting of a 
        bill or joint resolution, or the offering of an amendment to 
        the bill or joint resolution or the submission of a conference 
        report for the bill or joint resolution, providing funding for 
        the purposes described in subsection (b) in excess of the 
        amounts provided for those purposes for fiscal year 2007, the 
        chairman of the Committee on the Budget of the applicable House 
        of Congress shall make the adjustments required under paragraph 
        (2) for the amount of new budget authority and outlays in the 
        measure and the outlays flowing from that budget authority.
            (2) Matters to be adjusted.--The adjustments referred to in 
        paragraph (1) are to be made to--
                    (A) the discretionary spending limits, if any, set 
                forth in the appropriate concurrent resolution on the 
                budget,
                    (B) the allocations made pursuant to the 
                appropriate concurrent resolution on the budget 
                pursuant to section 302(a) of the Congressional Budget 
                Act of 1974 (2 U.S.C. 633(a)), and
                    (C) the budget aggregates contained in the 
                appropriate concurrent resolution on the budget as 
                required by section 301(a) of the Congressional Budget 
                Act of 1974 (2 U.S.C. 632(a)).
            (3) Amounts of adjustments.--The adjustments referred to in 
        paragraphs (1) and (2) shall not exceed the receipts estimated 
        by the Congressional Budget Office that are attributable to 
        sections 2, 3, 4, and 5 (and the amendments made by such 
        sections) for the fiscal year in which the adjustments are 
        made.

SEC. 7. WINDFALL PROFITS TAX.

    (a) In General.--Subtitle E (relating to alcohol, tobacco, and 
certain other excise taxes) is amended by adding at the end the 
following new chapter:

              ``CHAPTER 56--WINDFALL PROFITS ON CRUDE OIL

``Sec. 5896. Imposition of tax.
``Sec. 5897. Windfall profit; removal price; adjusted base price; 
                            qualified investment.
``Sec. 5898. Special rules and definitions.

``SEC. 5896. IMPOSITION OF TAX.

    ``(a) In General.--In addition to any other tax imposed under this 
title, there is hereby imposed on any major integrated oil company (as 
defined in section 167(h)(5)(B)) an excise tax equal to the excess of--
            ``(1) the amount equal to 50 percent of the windfall profit 
        from all barrels of taxable crude oil removed from the property 
        during each taxable year, over
            ``(2) the amount of qualified investment by such company 
        during such taxable year.
    ``(b) Fractional Part of Barrel.--In the case of a fraction of a 
barrel, the tax imposed by subsection (a) shall be the same fraction of 
the amount of such tax imposed on the whole barrel.
    ``(c) Tax Paid by Producer.--The tax imposed by this section shall 
be paid by the producer of the taxable crude oil.

``SEC. 5897. WINDFALL PROFIT; REMOVAL PRICE; ADJUSTED BASE PRICE; 
              QUALIFIED INVESTMENT.

    ``(a) General Rule.--For purposes of this chapter, the term 
`windfall profit' means the excess of the removal price of the barrel 
of taxable crude oil over the adjusted base price of such barrel.
    ``(b) Removal Price.--For purposes of this chapter--
            ``(1) In general.--Except as otherwise provided in this 
        subsection, the term `removal price' means the amount for which 
        the barrel of taxable crude oil is sold.
            ``(2) Sales between related persons.--In the case of a sale 
        between related persons, the removal price shall not be less 
        than the constructive sales price for purposes of determining 
        gross income from the property under section 613.
            ``(3) Oil removed from property before sale.--If crude oil 
        is removed from the property before it is sold, the removal 
        price shall be the constructive sales price for purposes of 
        determining gross income from the property under section 613.
            ``(4) Refining begun on property.--If the manufacture or 
        conversion of crude oil into refined products begins before 
        such oil is removed from the property--
                    ``(A) such oil shall be treated as removed on the 
                day such manufacture or conversion begins, and
                    ``(B) the removal price shall be the constructive 
                sales price for purposes of determining gross income 
                from the property under section 613.
            ``(5) Property.--The term `property' has the meaning given 
        such term by section 614.
    ``(c) Adjusted Base Price Defined.--
            ``(1) In general.--For purposes of this chapter, the term 
        `adjusted base price' means $50 for each barrel of taxable 
        crude oil plus an amount equal to--
                    ``(A) such base price, multiplied by
                    ``(B) the inflation adjustment for the calendar 
                year in which the taxable crude oil is removed from the 
                property.
        The amount determined under the preceding sentence shall be 
        rounded to the nearest cent.
            ``(2) Inflation adjustment.--
                    ``(A) In general.--For purposes of paragraph (1), 
                the inflation adjustment for any calendar year after 
                2008 is the percentage by which--
                            ``(i) the implicit price deflator for the 
                        gross national product for the preceding 
                        calendar year, exceeds
                            ``(ii) such deflator for the calendar year 
                        ending December 31, 2007.
                    ``(B) First revision of price deflator used.--For 
                purposes of subparagraph (A), the first revision of the 
                price deflator shall be used.
    ``(d) Qualified Investment.--For purposes of this chapter--
            ``(1) In general.--The term `qualified investment' means 
        any amount paid or incurred with respect to--
                    ``(A) section 263(c) costs,
                    ``(B) qualified refinery property (as defined in 
                section 179C(c) and determined without regard to any 
                termination date),
                    ``(C) any qualified facility described in paragraph 
                (1), (2), (3), or (4) of section 45(d) (determined 
                without regard to any placed in service date),
                    ``(D) any facility for the production of alcohol 
                used as a fuel (within the meaning of section 40) or 
                biodiesel or agri-biodiesel used as a fuel (within the 
                meaning of section 40A).
            ``(2) Section 263(c) costs.--For purposes of this 
        subsection, the term `section 263(c) costs' means intangible 
        drilling and development costs incurred by the taxpayer which 
        (by reason of an election under section 263(c)) may be deducted 
        as expenses for purposes of this title (other than this 
        paragraph). Such term shall not include costs incurred in 
        drilling a nonproductive well.

``SEC. 5898. SPECIAL RULES AND DEFINITIONS .

    ``(a) Withholding and Deposit of Tax.--The Secretary shall provide 
such rules as are necessary for the withholding and deposit of the tax 
imposed under section 5896 on any taxable crude oil.
    ``(b) Records and Information.--Each taxpayer liable for tax under 
section 5896 shall keep such records, make such returns, and furnish 
such information (to the Secretary and to other persons having an 
interest in the taxable crude oil) with respect to such oil as the 
Secretary may by regulations prescribe.
    ``(c) Return of Windfall Profit Tax.--The Secretary shall provide 
for the filing and the time of such filing of the return of the tax 
imposed under section 5896.
    ``(d) Definitions.--For purposes of this chapter--
            ``(1) Producer.--The term `producer' means the holder of 
        the economic interest with respect to the crude oil.
            ``(2) Crude oil.--
                    ``(A) In general.--The term `crude oil' includes 
                crude oil condensates and natural gasoline.
                    ``(B) Exclusion of newly discovered oil.--Such term 
                shall not include any oil produced from a well drilled 
                after the date of the enactment of this chapter, except 
                with respect to any oil produced from a well drilled 
                after such date on any proven oil or gas property 
                (within the meaning of section 613A(c)(9)(A), as in 
                effect before the date of the enactment of the Omnibus 
                Budget Reconciliation Act of 1990).
            ``(3) Barrel.--The term `barrel' means 42 United States 
        gallons.
    ``(e) Adjustment of Removal Price.--In determining the removal 
price of oil from a property in the case of any transaction, the 
Secretary may adjust the removal price to reflect clearly the fair 
market value of oil removed.
    ``(f) Regulations.--The Secretary shall prescribe such regulations 
as may be necessary or appropriate to carry out the purposes of this 
chapter.''.
    (b) Clerical Amendment.--The table of chapters for subtitle E is 
amended by adding at the end the following new item:

             ``Chapter 56. Windfall Profit on Crude Oil''.

    (c) Deductibility of Windfall Profit Tax.--The first sentence of 
section 164(a) (relating to deduction for taxes) is amended by 
inserting after paragraph (5) the following new paragraph:
            ``(6) The windfall profit tax imposed by section 5896.''.
    (d) Effective Date.--
            (1) In general.--The amendments made by this subsection 
        shall apply to crude oil removed after the date of the 
        enactment of this Act, in taxable years ending after such date.
            (2) Transitional rules.--For the period ending December 31, 
        2007, the Secretary of the Treasury or the Secretary's delegate 
        shall prescribe rules relating to the administration of chapter 
        56. To the extent provided in such rules, such rules shall 
        supplement or supplant for such period the administrative 
        provisions contained in chapter 56 (or in so much of subtitle F 
        as relates to such chapter 56).

SEC. 8. LOW-INCOME TRANSPORTATION ENERGY ASSISTANCE PROGRAM.

    (a) Definitions.--In this section:
            (1) Eligible household.--The term ``eligible household'' 
        means--
                    (A) a household in which 1 or more individuals are 
                receiving assistance or payments referred to in any of 
                clauses (i) through (iv) of section 2605(b)(2)(A) of 
                the Low-Income Home Energy Assistance Act of 1981 (42 
                U.S.C. 8624(b)(2)(A));
                    (B) a household that provides such documentation of 
                costs incurred for eligible transportation expenses as 
                the Secretary may reasonably require; and
                    (C) a low-income household.
            (2) Eligible transportation expense.--The term ``eligible 
        transportation expense'' means the cost incurred by an 
        individual or family in purchasing--
                    (A) gasoline or diesel fuel for use by the 
                individual or family for transportation purposes; or
                    (B) a bus pass, train ticket, or other mass-transit 
                fare for use by the individual or family.
            (3) Fund.--The term ``Fund'' means the Low-Income 
        Transportation Energy Assistance Fund established by subsection 
        (f)(1).
            (4) Indian tribe.--The term ``Indian tribe'' has the 
        meaning given the term in section 4 of the Indian Self-
        Determination and Education Assistance Act (25 U.S.C. 450b).
            (5) Low-income household.--The term ``low-income 
        household'' means a household with a total annual household 
        income that does not exceed the greater of--
                    (A) an amount equal to 150 percent of the poverty 
                level of a State; or
                    (B) an amount equal to 60 percent of the State 
                median income.
            (6) Poverty level.--The term ``poverty level'' has the 
        meaning given the term in section 2603 of the Low-Income Home 
        Energy Assistance Act of 1981 (42 U.S.C. 8622).
            (7) Program.--The term ``program'' means the Low-Income 
        Transportation Energy Assistance Program established under 
        subsection (b).
            (8) Secretary.--The term ``Secretary'' means the Secretary 
        of Health and Human Services.
            (9) State.--The term ``State'' means--
                    (A) a State; and
                    (B) the District of Columbia.
            (10) State median income.--The term ``State median income'' 
        has the meaning given the term in section 2603 of the Low-
        Income Home Energy Assistance Act of 1981 (42 U.S.C. 8622).
    (b) Establishment.--The Secretary shall establish and carry out a 
program, to be known as the ``Low-Income Transportation Energy 
Assistance Program'', under which the Secretary shall use amounts in 
the Fund to allocate funds to States for use in assisting low-income 
households in paying eligible transportation expenses.
    (c) Allocations.--
            (1) Allocations to states.--
                    (A) In general.--Subject to subparagraph (B) and 
                paragraphs (2) and (3), in carrying out the program for 
                each fiscal year, the Secretary shall allocate to each 
                State an amount to be used by the State in accordance 
                with subsection (b) that is equal to the proportion 
                that, as determined by the Secretary--
                            (i) the total expenditures on eligible 
                        transportation expenses by low-income 
                        individuals and families in the State for the 
                        fiscal year; bears to
                            (ii) the total expenditures on eligible 
                        transportation expenses by low-income 
                        individuals and families in all States for the 
                        fiscal year.
                    (B) Set-aside for indian tribes.--If, with respect 
                to any State, the Secretary receives a request from the 
                governing body of an Indian tribe within the State that 
                assistance under the program be made available directly 
                to the Indian tribe, and the Secretary determines that 
                the members of the Indian tribe would be better served 
                by means of grants made directly to provide benefits 
                under the program, the Secretary shall reserve from 
                amounts that would otherwise be payable to the State 
                under this paragraph for the fiscal year, and pay 
                directly to the Indian tribe--
                            (i) an amount equal to the proportion that, 
                        as determined by the Secretary--
                                    (I) the number of Indian households 
                                in the State that are eligible 
                                households; bears to
                                    (II) the number of Indian 
                                households in all States that are 
                                eligible households; or
                            (ii) such greater amount upon which the 
                        Indian tribe, and the State in which the Indian 
                        tribe is located, may agree.
            (2) Allocations to territories and possessions.--Subject to 
        paragraph (3), before making the allocations under paragraph 
        (1) for a fiscal year, the Secretary shall apportion, on the 
        basis of need, as determined by the Secretary, not less than 
        0.1 percent and not more than 0.5 percent of the amounts made 
        available to carry out this section for the fiscal year among--
                    (A) American Samoa;
                    (B) the Commonwealth of the Northern Mariana 
                Islands;
                    (C) the Commonwealth of Puerto Rico;
                    (D) Guam; and
                    (E) the United States Virgin Islands.
            (3) Pro rata reduction.--If the amounts made available to 
        carry out this section for a fiscal year are not sufficient to 
        pay in full the total amount allocated under paragraphs (1) and 
        (2), the Secretary shall make an equitable pro-rata reduction 
        to the amount allocated to each State under paragraph (1), and 
        each territory and possession under paragraph (2), for the 
        fiscal year.
    (d) Requirements.--To receive an allocation under the program, a 
State, Indian tribe, or territory or possession shall--
            (1) submit to the Secretary an application, in such form 
        and by such date as the Secretary may specify, that contains--
                    (A) a plan describing the means by which the State, 
                Indian tribe, or territory or possession will 
                distribute and ensure proper use of funds made 
                available under the program; and
                    (B) such other information as the Secretary may 
                require; and
            (2) agree--
                    (A) to use the allocation to provide to eligible 
                households, for use in paying eligible transportation 
                expenses--
                            (i) not more than $1500 for a fiscal year 
                        per eligible household, if the eligible 
                        household is comprised of a single individual; 
                        or
                            (ii) not more than $2500 for a fiscal year 
                        per eligible household, if the eligible 
                        household is comprised of 2 or more 
                        individuals;
                    (B) to conduct, as soon as practicable after 
                September 30 of the fiscal year for which the State, 
                Indian tribe, or territory or possession first receives 
                an allocation under the program, and annually 
                thereafter before each other allocation to the State, 
                Indian tribe, or territory or possession under the 
                program, a public hearing with respect to the proposed 
                use and distribution of funds under the program for 
                each fiscal year;
                    (C) to conduct outreach activities to ensure, to 
                the maximum extent practicable, that eligible 
                households, particularly eligible households with 
                elderly individuals, disabled individuals, or both, and 
                households with high transportation expenses, are 
                informed of the assistance available under the program;
                    (D) to coordinate activities under this section 
                with similar and related Federal and State programs;
                    (E) to establish such fiscal control and accounting 
                procedures as are necessary to ensure proper disbursal 
                of and accounting for Federal funds allocated to the 
                State, Indian tribe, or territory or possession under 
                the program; and
                    (F) to comply with such other requirements as the 
                Secretary may establish.
    (e) Nondiscrimination.--Section 2606 of the Low-Income Home Energy 
Assistance Act of 1981 (42 U.S.C. 8625) shall apply to each State, 
Indian tribe, and territory or possession that receives an allocation 
and provides grants to eligible households under the program.
    (f) Low-Income Transportation Energy Assistance Fund.--
            (1) Establishment.--There is established in the Treasury of 
        the United States a fund, to be known as the ``Low-Income 
        Transportation Energy Assistance Fund'', consisting of such 
        amounts as may be appropriated or credited to the Fund under 
        paragraph (2).
            (2) Transfers to fund.--
                    (A) In general.--There are appropriated to the Fund 
                amounts equivalent to amounts collected in the Treasury 
                as revenue under section 5896 of the Internal Revenue 
                Code of 1986.
                    (B) Rules regarding transfers to and management of 
                the fund.--For purposes of this subsection, rules 
                similar to the rules of sections 9601 and 9602 of the 
                Internal Revenue Code of 1986 shall apply.
            (3) Expenditures from fund.--
                    (A) In general.--Subject to subparagraph (B), on 
                request by the Secretary with respect to any fiscal 
                year beginning after September 30, 2007, the Secretary 
                of the Treasury shall transfer from the Fund to the 
                Secretary such amounts as the Secretary determines are 
                necessary to allocate funds to States under the program 
                for such fiscal year.
                    (B) Administrative expenses.--An amount not 
                exceeding 5 percent of the amounts in the Fund shall be 
                available for each fiscal year to pay the 
                administrative expenses necessary to carry out this 
                section.
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