HR 2334 IH

107th CONGRESS

1st Session

H. R. 2334

To amend the Internal Revenue Code of 1986 to dedicate revenues from recent tobacco tax increases for use in buying out tobacco quota.

IN THE HOUSE OF REPRESENTATIVES

June 27, 2001

Mr. BURR of North Carolina (for himself and Mr. JONES of North Carolina) introduced the following bill; which was referred to the Committee on Ways and Means, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned

A BILL

To amend the Internal Revenue Code of 1986 to dedicate revenues from recent tobacco tax increases for use in buying out tobacco quota.

    Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. TOBACCO FARMER TRUST FUND.

    (a) IN GENERAL- Subchapter A of chapter 98 of the Internal Revenue Code of 1986 (relating to trust fund code) is amended by adding at the end the following new section:

`SEC. 9511. TOBACCO FARMER TRUST FUND.

    `(a) CREATION OF TRUST FUND- There is established in the Treasury of the United States a trust fund to be known as the `Tobacco Farmer 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).
    `(b) TRANSFERS TO TRUST FUND- There are hereby appropriated to the Tobacco Farmer Trust Fund amounts equivalent to the taxes received after the date of the enactment of this section in the Treasury under chapter 52 (relating to cigars, cigarettes, smokeless tobacco, pipe tobacco, and cigarette papers and tubes) to the extent such amounts exceed the amounts that would have been received under the rates of tax that applied for 1999.
    `(c) EXPENDITURES- Amounts in the Tobacco Farmer Trust Fund shall be available, as provided in appropriation Acts, only for purposes of making expenditures to carry out a program established by the Secretary of Agriculture to buyout tobacco quota and to study the future of growing tobacco in the United States.'
    (b) CLERICAL AMENDMENT- The table of sections for such subchapter is amended by adding at the end the following new item:
`Sec. 9511. Tobacco Farmer Trust Fund.'

SEC. 2. ADVISORY COMMITTEE ON FUTURE OF GROWING TOBACCO IN THE UNITED STATES.

    It is the sense of the Congress that--
      (1) there should be an advisory committee to advise the Secretary of Agriculture as to how the Federal Government plans to address tobacco growing in the future and how the future can be more predictable and stable for tobacco growing in the United States, and
      (2) such committee should be composed of representatives appointed by the Majority Leader of the Senate, the Speaker of the House of Representatives, and the President.
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