Page:United States Statutes at Large Volume 96 Part 2.djvu/829

 PUBLIC LAW 97-424—JAN. 6, 1983 "(A) UNFUNDED HIGHWAY AUTHORIZATIONS.—The term 'unfunded highway authorizations' means, at any time, the excess (if any) of— "(i) the total potential unpaid commitments at such time as a result of the apportionment to the States of the amounts authorized to be appropriated from the Highway Trust Fund, over "(ii) the amount available in the Highway Trust Fund at such time to defray such commitments (after all other unpaid commitments at such time which are payable from the Highway Trust Fund have been defrayed). "(B) NET HIGHWAY RECEIPTS.—The term 'net highway receipts' means, with respect to any period, the excess of— "(i) the receipts (including interest) of the Highway Trust Fund during such period, over "(ii) the amounts to be transferred during such period from such Fund under subsection (c) (other than paragraph (1) thereof). "(6) REPORTS.—Any estimate under paragraph (1) and any determination under paragraph (2) shall be reported by the Secretary of the Treasury to the Committee on Ways and Means of the House of Representatives, the Committee on Finance of the Senate, the Committees on the Budget of both Houses, the Committee on Public Works and Transportation of the House of Representatives, and the Committee on Environment and Public Works of the Senate.

96 STAT. 2191

Submittal to congressional

"(e) ESTABLISHMENT OF MASS TRANSIT ACCOUNT.— "(1) CREATION OF ACCOUNT.—There is established in the High-

way Trust Fund a separate account to be known as the 'Mass Transit Account' consisting of such amounts as may be transferred or credited to the Mass Transit Account as provided in this subsection or section 9602(b). "(2) TRANSFERS TO MASS TRANSIT ACCOUNT.—The Secretary of

the Treasury shall transfer to the Mass Transit Account oneninth of the amounts appropriated to the Highway Trust Fund under subsection (b) which are attributable to taxes under sections 4041 and 4081 imposed after March 31, 1983. "(3) EXPENDITURES FROM ACCOUNT.—Amounts in the Mass Transit Account shall be available, as provided by appropriation Acts, for making capital expenditures before October 1, 1988 (including capital expenditures for new projects) in accordance with section 21(a)(2) of the Urban Mass Transportation Act of 1964. "(4) LIMITATION.—Rules similar to the rules of subsection (d) shall apply to the Mass Transit Account except that subsection (d)(1) shall be applied by substituting '12-month' for '24-month'."

49 USC 1617.

(b) REPEAL OF SECTION 209 OF THE HIGHWAY REVENUE ACT OF

1956.—Section 209 of the Highway Revenue Act of 1956 (other than subsection (b) thereof) is hereby repealed.

23 USC 120 note.

(c) CONFORMING AMENDMENTS TO LAND AND WATER CONSERVATION

FUND.—Subsection (b) of section 201 of the Land and Water Conservation Fund Act of 1965 (16 U.S.C. 4601-11) is amended— (1) by striking out "1985" each place it appears and inserting in lieu thereof "1989"; and (2) by striking out "1984" and inserting in lieu thereof "1988"

16 USC 460/-11.

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