ELIMINATION OF AQUATIC RESOURCES TRUST FUND AND TRANSFORMATION OF SPORT FISH RESTORATION ACCOUNT.

SEC. 11115. ELIMINATION OF AQUATIC RESOURCES TRUST FUND AND TRANSFORMATION OF SPORT FISH RESTORATION ACCOUNT.(a) Simplification of Funding for Boat Safety Account.—(1) In general.—Paragraph (4) of section 9503(c) (relating to transfers from Trust Fund for motorboat fuel taxes) is amended—(A) by striking so much of that paragraph as precedes subparagraph (D),(B) by redesignating subparagraphs (D) and (E) as subparagraphs (C) and (D), respectively, and(C) by inserting before subparagraph (C) (as so redesignated) the following:“(4) Transfers from the trust fund for motorboat fuel taxes.—“(A) Transfer to land and water conservation fund.—“(i) In general.—The Secretary shall pay from time to time from the Highway Trust Fund into the land and water conservation fund provided for in title I of the Land and Water Conservation Fund Act of 1965 amounts (as determined by the Secretary) equivalent to the motorboat fuel taxes received on or after October 1, 2005, and before October 1, 2011.“(ii) Limitation.—The aggregate amount transferred under this subparagraph during any fiscal year shall not exceed $1,000,000.“(B) Excess funds transferred to sport fish restoration and boating trust fund.—Any amounts in the Highway Trust Fund—“(i) which are attributable to motorboat fuel taxes, and“(ii) which are not transferred from the Highway Trust Fund under subparagraph (A),shall be transferred by the Secretary from the Highway Trust Fund into the Sport Fish Restoration and Boating Trust Fund.”.(2) Conforming amendment.—Paragraph (5) of section 9503(c) is amended by striking “Account in the Aquatic Resources” in subparagraph (A) and inserting “and Boating”.(b) Merging of Accounts.—(1) In general.—Subsection (a) of section 9504 is amended to read as follows:“(a) Creation of Trust Fund.—There is hereby established in the Treasury of the United States a trust fund to be known as the ‘Sport Fish Restoration and Boating Trust Fund’. Such 119 STAT. 1950 Trust Fund shall consist of such amounts as may be appropriated, credited, or paid to it as provided in this section, section 9503(c)(4), section 9503(c)(5), or section 9602(b).”.(2) Conforming amendments.—(A) Subsection (b) of section 9504, as amended by section 11101 of this Act, is amended—(i) by striking “Account” in the heading thereof and inserting “and Boating Trust Fund”,(ii) by striking “Account” both places it appears in paragraphs (1) and (2) and inserting “and Boating Trust Fund”, and(iii) by striking “account” both places it appears in the headings for paragraphs (1) and (2) and inserting “trust fund”.(B) Subsection (d) of section 9504, as amended by section 11101 of this Act, is amended—(i) by striking “Aquatic Resources” in the heading thereof,(ii) by striking “any Account in the Aquatic Resources” in paragraph (1) and inserting “the Sport Fish Restoration and Boating”, and(iii) by striking “any such Account” in paragraph (1) and inserting “such Trust Fund”.(C) Subsection (e) of section 9504 is amended by striking “Boat Safety Account and Sport Fish Restoration Account” and inserting “Sport Fish Restoration and Boating Trust Fund”.(D) Section 9504 is amended by striking “aquatic resources” in the heading thereof and inserting “sport fish restoration and boating”.(E) The item relating to section 9504 in the table of sections for subchapter A of chapter 98 is amended by striking “aquatic resources” and inserting “sport fish restoration and boating”.(F) Paragraph (2) of section 1511(e) of the Homeland Security Act of 2002 (6 U.S.C. 551(e)) is amended by striking “Aquatic Resources Trust Fund of the Highway Trust Fund” and inserting “Sport Fish Restoration and Boating Trust Fund”.(c) Phaseout of Boat Safety Account.—Subsection (c) of section 9504 is amended to read as follows:“(c) Expenditures From Boat Safety Account.—Amounts remaining in the Boat Safety Account on October 1, 2005, and amounts thereafter credited to the Account under section 9602(b), shall be available, without further appropriation, for making expenditures before October 1, 2010, to carry out the purposes of section 15 of the Dingell-Johnson Sport Fish Restoration Act (as in effect on the date of the enactment of the Safe, Accountable, Flexible, Efficient Transportation Equity Act: A Legacy for Users). For purposes of section 9602, the Boat Safety Account shall be treated as a Trust Fund established by this subchapter.”.(d) Effective Date.—The amendments made by this section shall take effect on October 1, 2005.