54 U.S.C. § 200310 — Transfers to and from Fund

submitted 12 years ago by Pub. L. 113-287 to r/title-54-NATIONAL-PARK-SERVICE-AND-RELATED-PROGRAMS · 154 words · no verdicts yet

in plain englishAI-generated · not legal advice

This section moves money between the Land and Water Conservation Fund and the Treasury's general fund. Motorboat fuel tax money goes into the Fund, while certain gasoline tax refunds get paid back out of it.

(a) Motorboat Fuel Taxes. The amounts described in a specific Internal Revenue Code provision — money tied to motorboat fuel taxes — get set aside in the Fund. (b) Refunds of Taxes. The Fund also pays money back to the Treasury's general fund. The Secretary of the Treasury estimates two amounts: (1) refunds paid before October 1, 2029, for gas tax on gasoline used in motorboats after December 31, 1964, based on claims filed before October 1, 2028; and (2) 80% of certain "floor stocks" tax refunds paid before October 1, 2029, for gasoline meant for use in motorboats.

the actual law source: uscode.house.gov ↗public domain

(a)Motorboat Fuel Taxes.—

There shall be set aside in the Fund the amounts specified in section 9503(c)(3)(B) of the Internal Revenue Code of 1986 (26 U.S.C. 9503(c)(3)(B)).

(b)Refunds of Taxes.—

There shall be paid from time to time from the Fund into the general fund of the Treasury amounts estimated by the Secretary of the Treasury as equivalent to—

(1)

the amounts paid before October 1, 2029, under section 6421 of the Internal Revenue Code of 1986 (26 U.S.C. 6421) with respect to gasoline used after December 31, 1964, in motorboats, on the basis of claims filed for periods ending before October 1, 2028; and

(2)

80 percent of the floor stocks refunds made before October 1, 2029, under section 6412(a)(1) of the Internal Revenue Code of 1986 (26 U.S.C. 6412(a)(1)) with respect to gasoline to be used in motorboats.

Source credit: (Pub. L. 113–287, § 3, Dec. 19, 2014, 128 Stat. 3179; Pub. L. 114–94, div. C, title XXXI, § 31102(e)(2)(B), Dec. 4, 2015, 129 Stat. 1728; Pub. L. 117–58, div. H, title I, § 80102(e)(2)(B), Nov. 15, 2021, 135 Stat. 1328.)

history & why it existsrecord from the source credit

2014Enacted · Pub. L. 113-287 · 128 Stat. 3179
2015Amended · Pub. L. 114-94 · 129 Stat. 1728
2021Amended · Pub. L. 117-58 · 135 Stat. 1328

A history note hasn’t been published yet. The record shows enactment by Pub. L. 113-287 on 2014-12-19.

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