What does Preamble of HR 1297 do?

This bill is formally titled 'To establish the Land Port of Entry Modernization Trust Fund, and for other purposes.' The bill aims to establish a Land Port of Entry Modernization Trust Fund.

What does SHORT TITLE. of HR 1297 do?

This bill is formally titled the LPOE Modernization Trust Fund Act.

What does LAND PORT OF ENTRY MODERNIZATION TRUST FUND. of HR 1297 do?

This section establishes the “Land Port of Entry Modernization Trust Fund” in the Treasury. The Trust Fund will receive deposits including 25% of fees collected under specific sections of the Consolidated Omnibus Budget Reconciliation Act of 1985, and up to $1,600,000,000 of Merchandise Processing Fees. The Secretary of the Treasury will invest portions of the Trust Fund in interest-bearing obligations of the United States. Amounts in the Trust Fund are available for construction, expansion, technology procurement, repairs, and hiring personnel at land ports of entry, contingent on appropriations Acts. The Secretary must consult with various entities, including the Administrator of General Services, State, local, and Tribal governments, and relevant advisory committees, when carrying out these purposes. The Secretary is prohibited from increasing fees to offset amounts deposited into the Trust Fund. The Secretary must submit annual reports to Congress detailing the status of the Trust Fund’s implementation, including obligations, expenditures, and remaining funds. A Land Port of Entry Modernization Oversight Board will be established to advise the Secretary on prioritization and review fund expenditures.

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LPOE Modernization Trust Fund Act — HR. 1297

Last updated: 2/13/2025 · Introduced: 2/13/2025

Author: Henry Cuellar (D-TX)

TL;DR (AI)

This bill establishes the Land Port of Entry Modernization Trust Fund to finance construction, expansion, technology upgrades, repairs, and personnel at land ports of entry.
The Trust Fund will receive deposits from fees collected under existing laws and up to $1.6 billion in Merchandise Processing Fees.
An oversight board will advise the Secretary of the Treasury on fund prioritization and expenditure review, and the Secretary must submit annual reports to Congress.

119th Congressin committeeOfficial page

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Other Sections

Includes provisions on preamble, short title., and 1 more.

3 sections

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