Page:United States Statutes at Large Volume 101 Part 3.djvu/236

 101 STAT. 1534

PUBLIC LAW 100-223—DEC. 30, 1987

"(1) IN GENERAL.—For purposes of this section, the funding percentage is the percentage (determined by the Secretary) which—, 4 » y s;J ^-:^ . "(A) the sum of— ^ j "(i) the aggregate amounts obligated under section 505 of the Airport and Airway Improvement Act of 1982 for fiscal years 1988 and 1989, and "(ii) the aggregate amounts appropriated under subsections (a) and (b) of section 506 of such Act for such fiscal years, is of ^•^. "(B) the sum of— •\ "(i) the aggregate amounts authorized to be obligated under such section 505 for such fiscal years, and "(ii) the aggregate amounts authorized to be appropriated under subsections (a) and (b) of such section 506 for such fiscal years. ,]y

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"(2)RULESP0R APPLYING PARAGRAPH (1).— "(A) TREATMENT OF PRIOR YEAR AMOUNTS.—For purposes

of paragraph (1), an £tmount shall be treated as authorized, obligated, or appropriated only for the 1st fiscal year for which it is authorized, obligated, or appropriated, as the case may be. "(B) TREATMENT OF SEQUESTERED AMOUNTS.—The determination under paragraph (I)(A) shall be made without regard to the sequestration of any amount described therein pursuant to an order under part C of title II of the Balanced Budget and Emergency Deficit Control Act of 1985 (or any successor law). ,V

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"(8) DETERMINATION OF FUNDING PERCENTAGE.—

"(A) IN GENERAL.—Not later than December 1, 1989, the Secretary shall determine— "(i) the funding percentage, and "(ii) whether the rate reductions under this section shall apply to taxable events occurring during 1990.

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"(B) DETERMINATIONS TO BE PUBUSHED IN FEDERAL REG-

ISTER.—As soon as practicable after making the determinations under subparagraph (A), the Secretary shall publish such determinations in the Federal Register. "(c) TAXABLE EVENT.—For purposes of this section— "(1) TAXABLE TRANSPORTATION BY AIR.—In the case of the taxes imposed by sections 4261 and 4271, the taxable event shall be treated as occurring when the payment for the taxable transportation is made. "(2) SALE OR USE OF FUEL.—In the case of the taxes imposed by section 4041(c), the taxable event shall be the sale or use on which tax is imposed." (b) REFUND OF FUEL TAXES ON NONCOMMERCIAL AVIATION WHERE RATE REDUCTION IN EFFECT.—

(1) IN GENERAL.—Section 6427 of such Code (relating to fuels not used for taxable purposes) is amended by redesignating subsection (p) as subsection (q) and by inserting after subsection (o) the following new subsection: "(p) GASOLINE USED IN NONCOMMERCIAL AVIATION DURING PERIOD RATE REDUCTION IN EFFECT.—Except as provided in subsection (k),

if— "(1) any tax is imposed by section 4081 on any gasoline,

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