54 U.S.C. § 200310 Transfers to and From Fund

• Library: United States Statutes
• Edition: prefLabel,label,title,shortLabel
• Currency: Current through P.L. 118-19 (published on www.congress.gov on 10/06/2023)
• Citation: 54 U.S.C. § 200310

(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.

Cite as 54 U.S.C. § 200310

Source: 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.

Notes from the Office of Law Revision Counsel

current through 8/1/2023

<TABLE> <TR><TD colspan="3">HISTORICAL AND REVISION NOTES</TD> </TR> <TR> <TD>Revised <para>Section</para> </TD> <TD>Source (U.S. Code)</TD> <TD>Source (Statutes at Large)</TD> </TR> <TR> <TD>200310</TD> <TD> <codecita...

In subsection (a), the words "(relating to special motor fuels and gasoline used in motorboats)" are omitted as unnecessary.

In subsection (b), the words "(relating to amounts paid in respect of gasoline used for certain nonhighway purposes or by local transit systems)" are omitted as unnecessary.

EDITORIAL NOTES

AMENDMENTS

2021-Subsec. (b). Pub. L. 117-58 substituted "October 1, 2029" for "October 1, 2023" in pars. (1) and (2) and "October 1, 2028" for "October 1, 2022" in par. (1).

2015-Subsec. (b)(1). Pub. L. 114-94 substituted "October 1, 2023" for "October 1, 2017" and "October 1, 2022" for "October 1, 2016".

Subsec. (b)(2). Pub. L. 114-94, §31102(e)(2)(B)(i), substituted "October 1, 2023" for "October 1, 2017".

STATUTORY NOTES AND RELATED SUBSIDIARIES

EFFECTIVE DATE OF 2021 AMENDMENT

Amendment by Pub. L. 117-58 effective Oct. 1, 2021, see section 80102(f) of Pub. L. 117-58 set out as a note under section 4041 of Title 26, Internal Revenue Code.

EFFECTIVE DATE OF 2015 AMENDMENT

Amendment by Pub. L. 114-94 effective Oct. 1, 2016, see section 31102(f) of Pub. L. 114-94 set out as a note under section 4041 of Title 26, Internal Revenue Code.