The Inland Waterways Trust Fund was established by the Treasury in fiscal year 1984, pursuant to section 203 of the Inland Waterways Revenue Act of 1978 and continued pursuant to section 1405 of the Water Resources Development Act of 1986. Under 26 US Code 9506(b), amounts from taxes on fuel used in commercial transportation on inland waterways, as determined by the Secretary of the Treasury, are appropriated to the trust fund. The Secretary of the Treasury invests in interest-bearing obligations of the US that portion of the trust fund, in his judgment, not required to meet current withdrawals. The Inland Waterways Revenue Act of 1978 provides that amounts in the trust fund shall be available as provided, by appropriations acts, for construction and rehabilitation expenditures for navigation on the inland and intracoastal waterways of the US described in 33 US Code 1804.
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