Sec. 3. Water Affordability, Transparency, Equity, and Reliability 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: There is established in the Treasury of the United States a trust fund to be known as the Water Affordability, Transparency, Equity, and Reliability Trust Fund (referred to in this section as the Trust Fund ), consisting of such amounts as may be appropriated or credited to such Trust Fund as provided in this section or section 9602(b). There are hereby appropriated to the Trust Fund such amounts as the Secretary from time to time estimates are equal to the increase in Federal revenues attributable to the amendment made by section 3(b) of the Water Affordability, Transparency, Equity, and Reliability Act of 2023 .

The sum of the amounts appropriated under paragraph

(1)during any fiscal year shall not exceed the larger of— $35,000,000,000, and one-twentieth of the sum of— the 20-year need identified in the most recent assessment conducted by the Administrator of the Environmental Protection Agency in accordance with section 1452(h) of the Safe Drinking Water Act ( 42 U.S.C. 300j–12(h) ), plus the 20-year need identified in the most recent needs survey submitted by the Administrator pursuant to sections 205(a), 516, and 609 of the Federal Water Pollution Control Act ( 33 U.S.C. 1285(a) , 1375, 1389). Amounts in the Trust Fund are available, without further appropriation and without fiscal year limitation, for the purposes described in section 3(c) of the Water Affordability, Transparency, Equity, and Reliability Act of 2023 . . The table of parts for subchapter A of chapter 98 of such Code is amended by inserting after the item relating to section 9511 the following new item: Sec. 9512. Water Affordability, Transparency, Equity, and Reliability Trust Fund. . Section 11(b) of the Internal Revenue Code of 1986 is amended by striking 21 and inserting 24.5 . The amendment made by this subsection shall apply to taxable years beginning after December 31, 2022. The Administrator, the Secretary of Agriculture, and the Secretary of Health and Human Services shall allocate, for a fiscal year, the amount available, at the beginning of that fiscal year, in the Water Affordability, Transparency, Equity, and Reliability Trust Fund established by section 9512(a) of the Internal Revenue Code of 1986, as follows: Of that amount, the Administrator shall use— 0.5 percent for making grants under section 104(b)(8) of the Federal Water Pollution Control Act ( 33 U.S.C. 1254(b)(8) ); 1.5 percent for making grants under section 106 of that Act ( 33 U.S.C. 1256 ); 2.5 percent for making grants under section 226 of that Act ( 33 U.S.C. 1302d ); 2.5 percent for making grants under subsections

(h)and

(i)of section 319 of that Act ( 33 U.S.C. 1329 ); and 42.25 percent for making capitalization grants under title VI of that Act ( 33 U.S.C. 1381 et seq. ). Of that amount, the Administrator shall use— 0.5 percent for providing technical assistance under section 1442(e) of the Safe Drinking Water Act ( 42 U.S.C. 300j–1(e) ); 42.25 percent for making capitalization grants under section 1452 of that Act ( 42 U.S.C. 300j–12 ); 3 percent for making grants under section 1465 of that Act ( 42 U.S.C. 300j–25 ); and 0.5 percent for making grants under section 1456 of that Act ( 42 U.S.C. 300j–16 ) and for making grants under section 307 of the Safe Drinking Water Act Amendments of 1996 ( 33 U.S.C. 1281 note; Public Law 104–182 ). Of that amount, the Secretary of Agriculture shall use 1 percent for making grants under section 306E of the Consolidated Farm and Rural Development Act ( 7 U.S.C. 1926e ). Of that amount, the Secretary of Agriculture shall use 0.5 percent for making grants under section 306C of the Consolidated Farm and Rural Development Act ( 7 U.S.C. 1926c ) to entities described in subsection

(c)of that section. Of that amount, the Secretary of Health and Human Services, acting through the Director of the Indian Health Service, shall use 3 percent for making grants for the planning, design, construction, modernization, improvement, and renovation of water, sewer, and solid waste sanitation facilities that are funded, in whole or part, by the Indian Health Service— through, or provided for in, a contract or compact with the Indian Health Service under the Indian Self-Determination and Education Assistance Act ( 25 U.S.C. 5301 et seq. ); pursuant to section 7 of the Act of August 5, 1954 (68 Stat. 674, chapter 658; 42 U.S.C. 2004a ); or pursuant to section 302 of the Indian Health Care Improvement Act ( 25 U.S.C. 1632 ). None of the funds allocated pursuant to subsection

(c)may be used for any activity described in paragraphs

(1)through

(5)of section 203(a) of the Labor-Management Reporting and Disclosure Act of 1959 ( 29 U.S.C. 433(a) ).

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