Sec. 305. Transfer of unused Coronavirus State and Local Fiscal Recovery Funds to the Highway Trust Fund
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Of the unobligated balances of the amounts appropriated under sections 602(a) and 603(a) of the Social Security Act ( 42 U.S.C. 802(a) , 803(a)) as of the date of enactment of this Act, $70,000,000,000 are hereby transferred to the Highway Trust Fund. In carrying out paragraph (1), the Secretary of the Treasury shall transfer the funds specified in such paragraph from the unobligated balances of the amounts appropriated under sections 602(a)(1) and 603(a) of such Act in equal proportion to the greatest extent practicable.
Section 602(b)(4) of the Social Security Act ( 42 U.S.C. 802(b)(4) ) is amended to read as follows: The amounts otherwise determined for allocation and payment under paragraphs (1), (2), and (3)— shall be adjusted by the Secretary on a pro rata basis to the extent necessary to carry out the transfer of funds required under section 305(a) of the Transportation Empowerment Act; and may be adjusted by the Secretary on a pro rata basis to the extent necessary to ensure that all available funds are allocated to States, territories, and Tribal governments in accordance with the requirements specified in each such paragraph (as applicable). .
Section 603(b)(5) of the Social Security Act ( 42 U.S.C. 803(b)(5) ) is amended to read as follows: The amounts otherwise determined for allocation and payment under paragraphs (1), (2), and (3)— shall be adjusted by the Secretary on a pro rata basis to the extent necessary to carry out the transfer of funds required under section 305(a) of the Transportation Empowerment Act; and may be adjusted by the Secretary on a pro rata basis to the extent necessary to ensure that all available funds are distributed to metropolitan cities, counties, and States in accordance with the requirements specified in each paragraph (as applicable) and the certification requirement specified in subsection (d). .
Section 9503(f) of the Internal Revenue Code of 1986, as amended by section 304(b), is further amended by redesignating paragraph
(13)as paragraph
(14)and by inserting after paragraph
(12)the following new paragraph: There is hereby transferred to the Highway Trust Fund the amounts described in section 305(a) of the Transportation Empowerment Act. .
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Sec. 305
Transfer of unused Coronavirus State and Local Fiscal Recovery Funds to the Highway Trust Fund
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