Sec. 301. Re-shoring and Near-shoring Account
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There is established within the Treasury of the United States an account to be known as the Re-shoring and Near-shoring Account (in this section referred to as the Account ), consisting of such amounts as are— appropriated pursuant to the authorization of appropriations under subsection (c); deposited into or transferred to the Account as specified in title II or subsection
(c)of section 321 of Tariff Act of 1930, as added by section 302; and credited to the Account under subsection (d). Amounts in the Account shall be available, without further appropriation, to carry out titles I and II. There are authorized to be appropriated $500,000,000 for fiscal year 2024 for initial capitalization of the Account. Not later than 2 years after the date of the enactment of this Act, the Account shall reimburse the treasury for the amount appropriated pursuant to the authorization of appropriations under paragraph (1). Except as provided in paragraph (2), the Secretary of the Treasury shall invest such portion of the Account as is not required to meet current withdrawals in interest-bearing obligations of the United States or in obligations guaranteed as to both principal and interest by the United States. The Secretary of the Treasury may invest such portion of the Account as the Secretary anticipates will be held in the Account for not less than 2 years in equity securities or other securities through a commercial bank if the Secretary determines such investments are appropriate. In this paragraph, the terms equity security and security have the meanings given those terms in section 3(a) of the Securities Exchange Act of 1934 ( 15 U.S.C. 78c(a) ). The interest on, and the proceeds from the sale or redemption of, any obligations held in the Account shall be credited to and form a part of the Account.
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Sec. 301
Re-shoring and Near-shoring Account
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