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Bill PDFBillno should always have and extension i.e. h1.ih

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Congressional Record References

Bill Summary & Status

HR 3722 IH

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.

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

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.

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

SECTION 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.

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