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Table II.—Title 23, U.S.C., Sources by Sections Continued

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Source Law at the Time of Codification in 1958, Amendments, Additions,

and Repeals Since 1958
1930 Act, June 24 (46 Stat. 805).
1950 Act, Sec. 10.
1956 Act, Sec. 106.
1958 Act, Sec. 6.
Amended by 1960 Hwy. Act, Sec. 8(b).
Amended by 1962 Hwy. Act, Sec. 7.
1921 Act, Sec. 23(a) and (c).
1921 Act, Sec. 23(b).
1921 Act, Sec. 23(d).
1950 Act, Sec. 3.
1948 Act, Sec. 3(a).
1956 Act, Sec. 103(a).
1958 Act, Sec. 3(a).
1921 Act, Sec. 23(a) and (c).
1942 Act, July 22 (56 Stat. 682).
Amended by 1960 Hwy. Act, Sec. 8(c).
Amended by 1964 Hwy. Act, Sec. 4(d).
1921 Act, Sec. 23(b).
1921 Act, Sec. 23(d).
1948 Act, Sec. 3(c).
Amended by 1968 Hwy. Act, Sec. 9.
1956 Act, Sec. 103(a).
1958 Act, Sec. 3(a).
1956 Act, Sec. 104(a).
1958 Act, Sec. 4(a).
1950 Act, Sec. 4(a).
1956 Act, Sec. 104(b).
1958 Act, Sec. 4(b).
1950 Act, Sec. 4(b).
1940 Act, Sec. 9.
1956 Act, Sec. 104(c).
1956 Act, Sec. 104(c).
1958 Act, Sec. 4(c).
1928 Act, May 26 (45 Stat. 750).
Added by Act of Sept. 22, 1961' (75 Stat. 584).
1956 Act, Sec. 105.
1958 Act, Sec. 5.
1930 Act, June 24 (46 Stat. 805).
1930 Act, June 24 (46 Stat. 805).
Added by 1964 Hwy. Act, Sec. 4(b).
1941 Act, Sec. 6.
1942 Act, Sec. 1(b).
1950 Act, Sec. 12.
1941 Act, Sec. 6.
1950 Act, Sec. 12.
1951 Act, October 66 (65 Stat. 422).
1952 Act, Sec. 10.
1941 Act, Sec. 14.
New Language.
Added by 1960 Hwy. Act, Sec. 8(d).
Added by 1961 Hwy. Act, Sec. 105.
1952 Act, Sec. 10.
1954 Act, Sec. 3.
1956 Act, Sec. 103(a).
1958 Act, Sec. 3(a).
1950 Act, Sec. 11.
1954 Act, Sec. 7.
Limitation relating to obligation of funds (not an

amendment) 1962 Hwy. Act, Sec. 4.
1941 Act, December 26 (55 Stat. 860), Sec. 2.
1941 Act, December 26 (55 Stat. 860), Sec. 3.
1952 Act, Sec. 5(a).
1952 Act, Sec. 5(b).
1954 Act, Sec. 8.
Added by 1962 IIwy. Act, Sec. 6(b).

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Table II.-Title 23, U.S.C., Sources by Sections Continued

301-

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301(8):

306-

Source Law at the Time of Codification in 1958, Amend ments, Additions, Sections of Title 23

and Repeals Since 1958

1921 Act, Sec. 9. 302(a)

1921 Act, Sec. 2.
1950 Act, Sec. 2.

Amended by 1966 Hwy. Act, Sec. 11. 302(b)..

1950 Act, Sec. 2. 303(a)-

1939—Reorganization Plan No. 1 (53 Stat. 1426), Sec.
1949— Reorganization Plan No. 7 (63 Stat. 1070).
1950—Reorganization Plan No. 5 (64 Stat. 1263).
1956 Act, August 3 (70 Stat. 990), Secs. 1, 2, 3. "
Amended by Act of Oct. 4, 1961 (75 Stat. 822), Sec. 1.
Amended by Act of Aug. 14, 1964 (78 Stat. 400), Sec.

305(24).

Amended by D.O.T. Act, Sec. 3 (f) (4). 303(b)

1916 Act, Sec. 9.

1956 Act, June 20 (70 Stat. 314). 303(c)

1956 Act, June 20 (70 Stat. 314). 304

1956 Act, Sec. 116(d). 305..

1956 Act, Sec. 120.
Amended by 1960 Hwy. Act, Sec. 8(e).

1956 Act, Sec. 121. 307 (a).

1954 Act, Sec. 10(a).

Amended by Highway Safety Act of 1966, Sec. 103. 307(b).

1954 Act, Sec. 10(b). 307(c)---

1944 Act, Sec. 8.

Amended by 1962 Hwy. Act, Sec. 11. 307(c) (1)

Amended by 1963 Hwy. Act, Sec. 6. 307 (d) -

Added by Highway Safety Act of 1966, Sec. 103. 308(a)--

1941 Act, Sec. 15.

1956 Act, June 20 (70 Stat. 314). 308(b)

1956 Act, June 20 (70 Stat. 314).
1956 Act, June 20 (70 Stat. 314).
1954 Act, Sec. 9.

1940 Act, Sec. 18. 312..

1941 Act, Sec. 17. 313...

1950 Act, Sec. 14.
1952 Act, Sec. 9.

Repealed by Highway Safety Act of 1966, Sec. 102. 314.

1956 Act, June 20 (70 Stat. 314). 315...

1921 Act, Sec. 18.

1921 Act, Sec. 16. 317(a).

1921 Act, Sec. 17, para. 1. 317(b)

1921 Act, Sec. 17, para. 2. 3170)

1921 Act, Sec. 17, para. 3. 317(d)

1921 Act, Sec. 17, para. 3. 318.

1944 Act, Sec. 11. 319..

1940 Act, Sec. 11. 319...

Revised by Highway Beautification Act of 1965, Sec.

301.
Amended by 1966 Hwy. Act, Sec. 8(b).

Amended by 1968 Hwy. Act, Sec. 6f). 320(a)

1946 Act, July 29 (60 Štat. 709), Sec. 1. 320(b)

1946 Act, July 29 (60 Stat. 709), Sec. 2.

1964 Act, Sec. 4(c). 320(c)

1946 Act, July 29 (60 Stat. 709), Sec. 3. 320(d)-

1946 Act, July 29 (60 Stat. 709), Sec. 4.

1959 Act, Sec. 108. 320(e)

1946 Act, July 29 (60 Stat. 709), Sec. 5. 320(f)------

1946 Act, July 29 (60 Stat. 709), Sec. 6. Ch. 4 (Secs. 401-404) Added by Highway Safety Act of 1966, Sec. 101. Ch. 5 (Secs. 501-511) -- Added by 1968 Hwy. Act, Sec. 30.

309. 310--311.

316-

SUBPART D. HIGHWAY TRUST FUND LAWS (HIGHWAY REVENUE ACT

OF 1956, AS AMENDED); AND SECTIONS OF TITLE 26, UNITED STATES
CODE, “INTERNAL REVENUE CODE”

FEDERAL-AID HIGHWAY ACT OF 1956
Public Law 627, 84th Cong., June 29, 1956, 70 Stat. 374

TITLE II—HIGHWAY REVENUE ACT OF 1956
SEC. 201. SHORT TITLE FOR TITLE II.

(a) SHORT TITLE.—This title may be cited as the “Highway Revenue Act of 1956”.

(b) AMENDMENT OF 1954 CODE.—Whenever in this title an amendment is expressed in terms of an amendment to a section or other provision, the reference shall be considered to be made to a section or other provision of the Internal Revenue Code of 1954.

SEC. 209. HIGHWAY TRUST FUND.

(a) CREATION OF TRUST FUND.—There is hereby established in the Treasury of the United States a trust fund to be known as the “Highway Trust Fund" (hereinafter in this section called the “Trust Fund”). The Trust Fund shall consist of such amounts as may be appropriated or credited to the Trust Fund as provided in this section.

(b) DECLARATION OF POLICY.—It is hereby declared to be the policy of the Congress that if it hereafter appears

(1) that the total receipts of the Trust Fund (exclusive of advances under subsection (d)) will be less than the total expenditures from such Fund (exclusive of repayments of such advances); or

(2) that the distribution of the tax burden among the various classes of persons using the Federal-aid highways, or otherwise deriving benefits from such highways, is not equitable, the Congress shall enact legislation in order to bring about a balance of total receipts and total expendi

tures, or such equitable distribution, as the case may be. (c) TRANSFER TO TRUST FUND OF AMOUNTS EQUIVALENT TO CERTAIN TAXES.

(1) IN GENERAL.—There is hereby appropriated to the Trust Fund, out of any money in the Treasury not otherwise appropriated, amounts equivalent to the following percentages of the taxes received in the Treasury before October 1, 1972, under the following provisions of the Internal Revenue Code of 1954 (or under the corresponding provisions of prior revenue laws)-1

(A) 100 percent of the taxes received after June 30, 1956, under sections 4041 (taxes on diesel fuel and special motor fuels), 4071(a) (4) (tax on tread rubber), and 4081 (tax on gasoline);

(B) 20 percent of the tax received after June 30, 1956, and before July 1, 1957, under section 4061(a) (1) (tax on trucks, buses, etc.);

(C) 50 percent of the tax received after June 30, 1957, and before July 1, 1962, under section 4061(a) (1) (tax on trucks, buses, etc.), and 100 percent of the tax received after June 30, 1962, under section 4061 (a) (1); ?

(D) 3712 percent of the tax received after June 30, 1956, and before July 1, 1957, under section 4071(a) (1) (tax on tires of the type used on highway vehicles);

1 Amended by sec. 207(c) (1) of P.L. 87–61, June 29, 1961 (75 Stat. 122). 2 Amended by sec. 207(a) of P.L. 87–61, June 29, 1961 (75 Stat. 122).

(E) 100 percent of the taxes received after June 30, 1957, under section 4071(a) (1), (2), (3) and (5) (taxes on tires of the type used on highway vehicles, other tires, and inner tubes); 3

(F) 100 percent of the tax received under section 4481 (tax on use of certain vehicles);

(G) 100 percent of the floor stocks taxes imposed by section 4226(a); and

(H) 100 percent of the taxes received after December 31, 1965, under sections 4061 (b) (tax on parts and accessories for trucks, buses, etc.) and

4091 (tax on lubricating oil). In the case of any tax described in subparagraph (A), (B), or (D), amounts received during the fiscal year ending June 30, 1957, shall be taken into account only to the extent attributable to liability for tax incurred after June 30, 1956.

In the case of any tax described in subparagraph (H), amounts received during the calendar year 1966 shall be taken into account only to the extent attributable to liability for tax incurred after December 31, 1965."

(2) See footnotes 6, 7.

(3) LIABILITIES INCURRED BEFORE OCTOBER 1, 1972, FOR NEW OR INCREASED TAXES. There is hereby appropriated to the Trust Fund, out of any money in the Treasury not otherwise appropriated, amounts equivalent to the following percentages of the taxes which are received in the Treasury after September 30, 1972, and before July 1, 1973, and which are attributable to liability for tax incurred before October 1, 1972, under the following provisions of the Internal Revenue Code of 1954— 8, 9.

(A) 100 percent of the taxes under sections 4041 (taxes on diesel fuel and special motor fuels), 4061(b) (tax on parts and accessories for trucks, buses, etc.), 4071(a) (4) (tax on tread rubber), 4081 (tax on gasoline), and 4091 (tax on lubricating oil); 10

(B) 20 percent of the tax under section 4061(a) (1) (tax on trucks, buses, etc.);

(C) 50 percent of the tax under section 4071(a) (1) (tax on tires of the type used on highway vehicles) and 10 percent of the tax under section 4071(a) (3) (tax on inner tubes for tires); and "1

(D) 100 percent of the tax under section 4481 (tax on use of certain vehicles). (4) METHOD OF TRANSFER.—The amounts appropriated by paragraphs (1), (2), and (3) shall be transferred at least monthly from the general fund of the Treasury to the Trust Fund on the basis of estimates by the Secretary of the Treasury of the amounts, referred to in paragraphs (1), (2), and (3) received in the Treasury. Proper adjustments shall be made in the amounts subsequently transferred to the extent prior estimates were in excess of or less than the amounts required to be transferred.”

(d) ADDITIONAL APPROPRIATIONS TO TRUST FUND.—There are hereby authorized to be appropriated to the Trust Fund, as repayable advances, such additional sums as may be required to make the expenditures referred to in subsection (f).

(e) MANAGEMENT OF TRUST FUND.

(1) IN GENERAL.-It shall be the duty of the Secretary of the Treasury to hold the Trust Fund, and (after consultation with the Secretary of Commerce) to report to the Congress not later than the first day of March of each year on the financial condition and the results of the operations of the Trust Fund during the preceding fiscal year and on its expected condition and operations during each fiscal year thereafter up to and including the fiscal year ending June 30, 1973. Such report shall be printed as a House document of the session of the Congress to which the report is made.

3 Amended by sec. (c) of P.L. 86–440, Apr. 22, 1960 (74 Stat. 80).

4 New subpara. (H) added by sec. 210(a) (1), (2) and (3) of P.L. 89-44, June 21, 1965 (79 Stat. 136).

5 New sentence added by sec. 210(a) (4) of P.L. 89–44, June 21, 1965 (79 Stat. 136).

o New subsec. (2) added; and subsecs. (2) and (3) renumbered as (3) and (4) by sec. 202(a) of P.L. 86–342, Sept. 21, 1959 (73 Stat. 611).

7 Subsec. (2) repealed by sec. 207(b) of P.L. 87-61, June 29, 1961 (75 Stat. 122). 8 Title amended by sec. 207(c) (2) (A) of P.L. 87–61, June 29, 1961 75 Stat. 122). 9 Amended by sec. 207(c) (2) (B) of P.L. 87–61, June 29, 1961 (75 Stat. 122). 10 Amended by sec. 210(b) of P.L. 89-44, June 21, 1965 (79 Stat. 136). 11 Amended by sec. 207(c) (2) (C) of P.L, 87-61, June 29, 1961 (75 Stat. 122).

12 Clerical amendments by sec. 202(b) (1) of P.L. 86–342, Sept. 21, 1959 (73 Stat. 611).

(2) INVESTMENT.—It shall be the duty of the Secretary of the Treasury to invest such portion of the Trust Fund as is not, in his judgment, required to meet current withdrawals. Such investments may be made only in interestbearing obligations of the United States or in obligations guaranteed as to both principal and interest by the United States. For such purpose such obligations may be acquired (A) on original issue at par, or (B) by purchase of outstanding obligations at the market price. The purposes for which obligations of the United States may be issued under the Second Liberty Bond Act, as amended, are hereby extended to authorize the issuance at par of special obligations exclusively to the Trust Fund. Such special obligations shall bear interest at a rate equal to the average rate of interest, computed as to the end of the calendar month next preceding the date of such issue, borne by all marketable interest-bearing obligations of the United States then forming a part of the Public Debt; except that where such average rate is not a multiple of one-eighth of 1 percent, the rate of interest of such special obligations shall be the multiple of one-eighth of 1 percent next lower than such average rate. Such special obligations shall be issued only if the Secretary of the Treasury determines that the purchase of other interest-bearing obligations of the United States, or of obligations guaranteed as to both principal and interest by the United States on original issue or at the market price, is not in the public interest. Advances to the Trust Fund pursuant to subsection (d) shall not be invested.

(3) SALE OF OBLIGATIONS.—Any obligation acquired by the Trust Fund (except special obligations issued exclusively to the Trust Fund) may be sold by the Secretary of the Treasury at the market price, and such special obligations may be redeemed at par plus accrued interest.

(4) INTEREST AND CERTAIN PROCEEDS.-The interest on, and the proceeds from the sale or redemption of, any obligations held in the Trust Fund shall be credited to and form a part of the Trust Fund

(f) EXPENDITURES FROM TRUST FUND.

(1) FEDERAL-AID HIGHWAY PROGRAM.—Amounts in the Trust Fund shall be available, as provided by appropriation Acts, for making expenditures after June 30, 1956, and before October 1, 1972, to meet those obligations of the United States heretofore or hereafter incurred under the Federal-Aid Road Act approved July 11, 1916, as amended and supplemented, which are attributable to Federal-aid highways (including those portions of general administrative expenses of the Bureau of Public Roads payable from such appropriations).13

(2) REPAYMENT OF ADVANCES FROM GENERAL FUND.-Advances made pursuant to subsection (d) shall be repaid, and interest on such advances shall be paid, to the general fund of the Treasury when the Secretary of the Treasury determines that moneys are available in the Trust Fund for such purposes. Such interest shall be at rates computed in the same manner as provided in subsection (e) (2) for special obligations and shall be compounded annually.

(3) TRANSFERS FROM TRUST FUND FOR GASOLINE AND LUBRICATING OIL USED FOR CERTAIN PURPOSES.—The Secretary of the Treasury shall pay from time to time from the Trust Fund into the general fund of the Treasury amounts equivalent to the amounts paid before July 1, 1973, under sections 6420 (relating to amounts paid in respect of gasoline used on farms), 6421 (relating to amounts paid in respect of gasoline used for certain nonhighway purposes or by local transit systems), and 6424 (relating to amounts paid in respect of lubricating oil not used in highway motor vehicles) of the Internal Revenue Code of 1954 on the basis of claims filed for periods beginning after June 30, 1956, and ending before October 1, 1972. This paragraph shall not apply to amounts estimated by the Secretary of the Treasury as paid under section 6421 of such Code with respect to gasoline used after December 31, 1961, in motorboats.14

(4) 1972 FLOOR STOCKS REFUNDS.—The Secretary of the Treasury shall pay from time to time from the Trust Fund into the general fund of the Treasury amounts equivalent to the following percentages of the floor stocks refunds made before July 1, 1973, under section 6412(a) (2) of the Internal Revenue Code of 1954–1

(A) 40 percent of the refunds in respect of articles subject to the tax imposed by section 4061(a) (1) of such Code (trucks, buses, etc.);

13 Amended by sec. 207(d) (1) of P.L. 87-61, June 29, 1961 (75 Stat. 122).

14 Amended by sec. 210(c) (1), (2), and (3) of P.L. 89-44, June 21, 1965 (79 Stat. 136). Amended by sec. 207(d) (2) of P.L. 87–61, June 29, 1961 (75 Stat. 122). Last sentence added by sec. 202 (b) (1) of P.L. 88-578, Sept. 3, 1964 (78 Stat. 897).

15 Amended by sec. 202(b) (A) of P.L. 86–342, Sept. 21, 1959 (73 Stat. 611).

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