Sec. 701. Establishment of the Maritime Security Trust Fund

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Subchapter A of chapter 98 of the Internal Revenue Code of 1986 is amended by adding at the end the following new section: There is established in the Treasury of the United States a trust fund to be known as the Maritime Security Trust Fund , consisting of such amounts as may be— appropriated to such Trust Fund as provided in this section, or credited to such Trust Fund as provided in section 9602(b). There are hereby appropriated to the Trust Fund amounts equivalent to— the taxes received in the Treasury under— section 1352 (relating to alternative tax on qualifying shipping activities), section 60301 of title 46, United States Code (relating to regular tonnage taxes), section 60302 of title 46, United States Code (relating to special tonnage taxes), and section 60303 of title 46, United States Code (relating to light money), the amount received in the Treasury and attributable to revenue collected from duties imposed— under section 466 of the Tariff Act of 1930 ( 19 U.S.C. 1466 ) (relating to equipment and repair of vessels), on and after July 6, 2018, with respect to articles of the People’s Republic of China pursuant to section 301 of the Trade Act of 1974 ( 19 U.S.C. 2411 ), notice of which was published in the Federal Register on June 20, 2018 (83 Fed. Reg. 28710), and under section 60502 of title 46, United States Code (relating to discriminating duty on goods imported in foreign vessels or from contiguous countries), any penalties paid with respect to a vessel pursuant to— section 436 of the Tariff Act of 1930 ( 19 U.S.C. 1436 ), section 453 of the Tariff Act of 1930 ( 19 U.S.C. 1453 ), section 454 of the Tariff Act of 1930 ( 19 U.S.C. 1454 ), section 464 of the Tariff Act of 1930 ( 19 U.S.C. 1464 ), section 497 of the Tariff Act of 1930 ( 19 U.S.C. 1497 ), section 584 of the Tariff Act of 1930 ( 19 U.S.C. 1584 ), section 592 of the Tariff Act of 1930 ( 19 U.S.C. 1592 ), section 593A of the Tariff Act of 1930 ( 19 U.S.C. 1593a ), section 7 of the Act of June 19, 1886 (24 Stat. 81, chapter 421; 19 U.S.C. 1706a ), section 2107 of title 46, United States Code, section 2302 of title 46, United States Code, section 3318 of title 46, United States Code, section 3718 of title 46, United States Code, section 4106 of title 46, United States Code, section 5116 of title 46, United States Code, section 11303 of title 46, United States Code, section 11501 of title 46, United States Code, section 12151 of title 46, United States Code, section 12507 of title 46, United States Code, section 14701 of title 46, United States Code, section 30707 of title 46, United States Code, with respect to the portion of the fine that goes to the United States Government under subsection

(c)of such section 30707, section 31309 of title 46, United States Code, section 31330 of title 46, United States Code, section 41107 of title 46, United States Code, section 41108 of title 46, United States Code, section 42108 of title 46, United States Code, section 44104 of title 46, United States Code, section 70052 of title 46, United States Code, section 70119 of title 46, United States Code, section 70506 of title 46, United States Code, and section 80509 of title 46, United States Code, and any revenue generated in connection with the seizure and forfeiture of a maritime vessel under— section 3 of the Act of August 5, 1935 (49 Stat. 518, chapter 438; 19 U.S.C. 1703 ), section 70052 of title 46, United States Code, and section 70507 of title 46, United States Code. Amounts in the Maritime Security Trust Fund shall be available, as provided by appropriation Acts, for making expenditures before October 1, 2035, to meet those obligations of the United States heretofore and hereafter incurred which are authorized to be paid out of the Maritime Security Trust Fund under the SHIPS for America Act of 2024 . The table of sections for subchapter A of chapter 98 of the Internal Revenue Code of 1986 is amended by adding at the end the following new item: Sec. 9512. Maritime Security Trust Fund. .

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