To amend the Internal Revenue Code of 1986 to increase the excise tax on the transportation of passengers by water, to impose an excise tax on certain containers used to import or export commercial cargo, and to use the revenues from such taxes for a modified operating differential subsidy program under the Merchant Marine Act, 1936.
Maritime Trust Fund Act - Amends the Internal Revenue Code to increase the tax on transportation of passengers by water on a covered voyage to five percent of the amount paid by each passenger. (Currently, such tax is three dollars per passenger). Requires such voyages to have a port of call not located in the United States or its possessions.
Imposes an excise tax on the loading of certain containers used to import or export commercial cargo on commercial vessels.
Establishes the Maritime Trust Fund consisting of the maritime taxes imposed by this Act. Requires such Fund to support the maritime security fleet proposed by the Maritime Security and Competitiveness Act of 1993.
Introduced in House
Introduced in House
Sponsor introductory remarks on measure. (CR E1473-1474)
Referred to the House Committee on Merchant Marine and Fisheries.
Referred to the House Committee on Ways and Means.
Referred to the Subcommittee On Merchant Marine.
Executive Comment Requested from DOT.
Subcommittee Hearings Held.
Subcommittee Hearings Held.
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