94 STAT. 1988
Infra. Ante, p. 1984. 46 USC 1 7. 45
PUBLIC LAW 96-451—OCT. 14, 1980
Facilities Improvement Fund", consisting of such amounts as may be paid into it as provided in section 209(f)(5) of the Highway Revenue Act of 1956. Amounts in the Fund shall be available, as provided in appropriation Acts, for making expenditures after September 30, 1980, and before April 1, 1984, as provided in section 26 of the Federal Boat Safety Act of 1971 (46 U.S.C. 1476). SEC. 203. TRANSFER OF MOTORBOAT FUEL TAXES TO FUND. (a) GENERAL RULE.—Paragraph (5) of section 209(0 of the Highway Revenue Act of 1956 (23 U.S.C. 120 note) is amended to read as follows: "(5) TRANSFERS FROM THE TRUST FUND FOR MOTORBOAT FUEL TAXES.— "(A) TRANSFER TO NATIONAL RECREATIONAL BOATING SAFETY AND FACILITIES IMPROVEMENT FUND.—
Ante, p. 1987.
"(i) IN GENERAL.—The Secretary of the Treasury shall pay from time to time from the trust fund into the National Recreational Boating Safety and Facilities Improvement Fund established by section 202 of the Recreational Boating Fund Act amounts (as determined by him) equivalent to the motorboat fuel taxes received on or after October 1, 1980, and before October 1, 1983. "(ii) LIMITATIONS.— "(I) LIMIT ON TRANSFERS DURING ANY FISCAL
YEAR.—The aggregate amount transferred under this subparagraph during any fiscal year shall not exceed $20,000,000. "(II)
LIMIT ON AMOUNT IN FUND.—No amount
shall be transferred under this subparagraph if the Secretary determines that such transfer would result in increasing the amount in the National Recreational Boating Safety and Facilities Improvement Fund to a sum in excess of $20,000,000. "(B)
EXCESS FUNDS TRANSFERRED TO LAND AND WATER
CONSERVATION FUND.—Any amount received in the trust fund which is attributable to motorboat fuel taxes and which is not transferred from the trust fund under subparagraph (A) shall be transferred by the Secretary from the trust fund into the land and water conservation fund provided for in 16 USC 460Z-4. title I of the Land and Water Conservation Fund Act of 1965. "(C) MOTORBOAT FUEL TAXES.—For purposes of this paragraph, the term 'motorboat fuel taxes' means the taxes 26 USC 4041. under section 4041(b) of the Internal Revenue Code of 1954 with respect to special motor fuels used as fuel in motorboats 26 USC 4081. and under section 4081 of such Code with respect to gasoline used as fuel in motorboats." 23 USC 120 note. (b) EFFECTIVE DATE.—The amendment made by subsection (a) shall apply to taxes received on or after October 1, 1980. SEC. 204. STUDY BY SECRETARY OF THE TREASURY. 26 USC 4041 The Secretary of the Treasury (after consultation with the Secre"°^® tary of the department in which the Coast Guard is operating) shall conduct a study to determine the portion of the taxes imposed by sections 4041(b) and 4081 of the Internal Revenue Code of 1954 which Report to is attributable to fuel used in recreational motorboats. Not later than Congress. 2 years after the date of the enactment of this Act, the Secretary of the Treasury shall report to the Congress on his findings under such study.
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