Code Section 9508
| Code Section | Effective Date | Name of Act | Name of Provision | 10yr Revenue Estimate ($millions) |
|---|---|---|---|---|
| 9503 and 9508 | 7/6/2012 | Moving Ahead for Progress in the 21st Century Act | Transfer from Leaking Underground Storage Tank Trust Fund to Highway Trust Fund | No revenue effect |
| 4041, 4051, 4071, 4081, 4221, 4481, 4483, 6412, 9503, 9504, and 9508 | 7/1/2012 | Moving Ahead for Progress in the 21st Century Act | Extension of trust fund expenditure authority and extension of highway-related taxes | No revenue effect |
Transfer from Leaking Underground Storage Tank Trust Fund to Highway Trust Fund
Explanation of Provision
The provision transfers $2.4 billion from the LUST Trust Fund to the Highway Account of the Highway Trust Fund.
Extension of trust fund expenditure authority and extension of highway-related taxes
Explanation of Provision
The Act provides for expenditure authority through September 30, 2014. The Code provisions governing the purposes for which monies in the Highway Trust Fund may be spent are updated to include the reauthorization bill, MAP–21. Cross-references to the reauthorization bill in the Code provisions governing the Sport Fish Restoration and Boating Trust Fund are also updated to include the conference agreement bill. In general, the provision extends the taxes dedicated to the Highway Trust Fund at their present law rates through September 30, 2016, and for the heavy vehicle use tax, through September 30, 2017.
Back to Tax Tracker Codes Menu