Sec. 2004. INLAND WATERWAYS REVENUE STUDIES
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## SEC. 2004 INLAND WATERWAYS REVENUE STUDIES ###
(a)Inland Waterways Construction Bonds Study ####
(1)Study The Secretary, in coordination with the heads of appropriate Federal agencies, shall conduct a study on the potential benefits and implications of authorizing the issuance of federally tax-exempt bonds secured against the available proceeds, including projected annual receipts, in the Inland Waterways Trust Fund established by section 9506(a) of the Internal Revenue Code of 1986. ####
(2)Contents In carrying out the study, the Secretary shall examine the implications of issuing such bonds, including the potential revenues that could be generated and the projected net cost to the Treasury, including loss of potential revenue. ####
(3)Consultation In carrying out the study, the Secretary, at a minimum, shall consult with— #####
(A)representatives of the Inland Waterway Users Board established by section 302 of the Water Resources Development Act of 1986 (33 U.S.C. 2251); #####
(B)representatives of the commodities and bulk cargos that are currently shipped for commercial purposes on the segments of the inland and intracoastal waterways listed in section 206 of the Inland Waterways Revenue Act of 1978 (33 U.S.C. 1804); #####
(C)representatives of other users of locks and dams on the inland and intracoastal waterways, including persons owning, operating, using, or otherwise benefitting from— ######
(i)hydropower generation facilities; ######
(ii)electric utilities that rely on the waterways for cooling of existing electricity generation facilities; ######
(iii)municipal and industrial water supply; ######
(iv)recreation; ######
(v)irrigation water supply; or ######
(vi)flood damage reduction; and #####
(D)other stakeholders associated with the inland and intracoastal waterways, as identified by the Secretary. ####
(4)Report to congress #####
(A)In general Not later than 1 year after the date of enactment of this Act, the Secretary shall submit to the Committee on Environment and Public Works, the Committee on Finance, and the Committee on the Budget of the Senate and the Committee on Transportation and Infrastructure, the Committee on Ways and Means, and the Committee on the Budget of the House of Representatives, and make publicly available, a report on the results of the study. #####
(B)Identification of issues As part of the report, the Secretary shall identify any potential benefits or other implications of the issuance of bonds described in subsection (a)(1), including any potential changes in Federal or State law that may be necessary to provide such benefits or to address such implications. ###
(b)Potential Revenue Sources for Inland and Intracoastal Waterways Infrastructure ####
(1)In general The Secretary shall conduct a study and submit to Congress a report on potential revenue sources from which funds could be collected to generate additional revenues for the Inland Waterways Trust Fund established by section 9506(a) of the Internal Revenue Code of 1986. ####
(2)Scope of study #####
(A)In general In carrying out the study, the Secretary shall evaluate an array of potential revenue sources from which funds could be collected in amounts that, when combined with funds generated by section 4042 of the Internal Revenue Code of 1986, are sufficient to support one-half of annual construction expenditure levels of $380,000,000 for the authorized purposes of the Inland Waterways Trust Fund. #####
(B)Potential revenue sources for study In carrying out the study, the Secretary, at a minimum, shall— ######
(i)evaluate potential revenue sources identified in and documented by known authorities of the Inland Waterways System; and ######
(ii)review appropriate reports and associated literature related to revenue sources. ####
(3)Conduct of study In carrying out the study, the Secretary shall— #####
(A)take into consideration whether the potential revenues from other sources— ######
(i)are equitably associated with the construction, operation, and maintenance of inland and intracoastal waterway infrastructure, including locks, dams, and navigation channels; and ######
(ii)can be efficiently collected; #####
(B)consult with, at a minimum— ######
(i)representatives of the Inland Waterways Users Board; and ######
(ii)representatives of other nonnavigation beneficiaries of inland and intracoastal waterway infrastructure, including persons benefitting from— ######
(I)municipal water supply; ######
(II)hydropower; ######
(III)recreation; ######
(IV)industrial water supply; ######
(V)flood damage reduction; ######
(VI)agricultural water supply; ######
(VII)environmental restoration; ######
(VIII)local and regional economic development; or ######
(IX)local real estate interests; and ######
(iii)representatives of other interests, as identified by the Secretary; and #####
(C)provide the opportunity for public hearings in each of the geographic regions that contain segments of the inland and intracoastal waterways listed in section 206 of the Inland Waterways Revenue Act of 1978 (33 U.S.C. 1804). ####
(4)Report to congress Not later than 1 year after the date of enactment of this Act, the Secretary shall submit to the Committee on Environment and Public Works, the Committee on Finance, and the Committee on the Budget of the Senate and the Committee on Transportation and Infrastructure, the Committee on Ways and Means, and the Committee on the Budget of the House of Representatives, and make publicly available, a report on the results of the study.
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