Sec. 2. Trade Agreements Enforcement Trust Fund
296 words·~1 min read·
/bill/114/hr/1947/ih/section-2A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
There is established in the Treasury of the United States a trust fund, to be known as the Trade Agreements Enforcement Trust Fund (hereinafter in this section referred to as the Trust Fund ), consisting of such amounts as are transferred to the Trust Fund under subsection (b), any interest earned on investment of amounts in the Trust Fund, and any proceeds from the sale or redemption of any obligations held in the Trust Fund under subsection (c). The Secretary shall transfer to the Trust Fund for each fiscal year that begins on or after the date of the enactment of this Act an amount equal to $15,000,000 of the countervailing duties and antidumping duties received in the Treasury for such fiscal year.
The total amount of funds in the Trust Fund may not exceed $30,000,000. The Secretary shall be responsible for investing such portion of the Trust Fund as is not, in the judgment of the Secretary, required to meet current withdrawals. Such investments shall only be made in interest-bearing obligations of the United States or in obligations guaranteed as to both principal and interest by the United States. The interest on, and the proceeds from the sale or redemption of, any obligations held in Trust Fund shall be credited to and form a part of the Trust Fund.
The Secretary shall transfer amounts required to be transferred to the Trust Fund under subsection
(b)at least quarterly from the general fund of the Treasury to the Trust Fund on the basis of estimates made by the Secretary. The Secretary shall make proper adjustment in the amounts subsequently transferred to the Trust Fund to the extent prior estimates were in excess of or less than the amounts required to be transferred to the Trust Fund.