II Calendar No. 86 111th CONGRESS 1st Session S. 1344 IN THE SENATE OF THE UNITED STATES June 24, 2009 Mr. Vitter (for himself, Mr. Kyl, Mr. Brownback, and Mr. Barrasso) introduced the following bill; which was read the first time June 25, 2009 Read the second time and placed on the calendar A BILL To temporarily protect the solvency of the Highway Trust Fund.

1.

Short title

This Act may be cited as the Highway Investment Protection Act.

2.

Temporary protection of Highway Trust Fund solvency

(a)

In general

From the amounts appropriated and remaining unobligated under the American Recovery and Reinvestment Act of 2009 (Pub. Law 111-5), the Director of the Office of Management and Budget shall transfer to the Highway Trust Fund such sums as the Secretary of Transportation determines will be necessary to ensure that the Highway Trust Fund balance does not fall below the threshold that would require a change from monthly payments to weekly payments of expenditures from the Highway Trust Fund through September 30, 2010. The Director of the Office of Management and Budget shall report to each congressional committee the amounts so transferred within the jurisdiction of such committee. (b)

Conforming extension of expenditure authority

Subsections (b)(6), (c)(1), and (e)(3) of section 9503 of the Internal Revenue Code of 1986 are each amended by striking 2009 each place it appears and inserting 2010.

June 25, 2009 Read the second time and placed on the calendar