26 U.S.C. § 9511 — Untitled legal text

Page 4155 TITLE 26—INTERNAL REVENUE CODE § 9511 Amendment by section 4003(d) of Pub. L. 105–277 effec- tive as if included in the provision of the Taxpayer Re- lief Act of 1997, Pub. L. 105–34, to which such amend- ment relates, see section 4003(l) of Pub. L. 105–277, set out as a note under section 86 of this title. EFFECTIVE DATE OF 1989 AMENDMENT Pub. L. 101–239, title VII, § 7841(g)(2), Dec. 19, 1989, 103 Stat. 2429, provided that: ‘‘The amendment made by paragraph (1) [amending this section] shall apply to fis- cal years beginning after September 30, 1989.’’ EFFECTIVE DATE OF 1988 AMENDMENT Amendment by Pub. L. 100–647 effective as if included in the amendments made by section 9201 of the Omni- bus Budget Reconciliation Act of 1987, Pub. L. 100–203, see section 2006(c) of Pub. L. 100–647, set out as a note under section 4132 of this title. EFFECTIVE DATE Pub. L. 100–203, title IX, § 9202(c), Dec. 22, 1987, 101 Stat. 1330–331, provided that: ‘‘The amendments made by this section [enacting this section] shall take effect on January 1, 1988.’’ § 9511. Patient-Centered Outcomes Research 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 ‘‘Patient-Centered Outcomes Research Trust Fund’’ (hereafter in this section referred to as the ‘‘PCORTF’’), consisting of such amounts as may be appropriated or credited to such Trust Fund as provided in this section and section 9602(b). (b) Transfers to Fund (1) Appropriation There are hereby appropriated to the Trust Fund the following: (A) For fiscal year 2010, $10,000,000. (B) For fiscal year 2011, $50,000,000. (C) For fiscal year 2012, $150,000,000. (D) For fiscal year 2013— (i) an amount equivalent to the net reve- nues received in the Treasury from the fees imposed under subchapter B of chap- ter 34 (relating to fees on health insurance and self-insured plans) for such fiscal year; and (ii) $150,000,000. (E) For each of fiscal years 2014, 2015, 2016, 2017, 2018, and 2019— (i) an amount equivalent to the net reve- nues received in the Treasury from the fees imposed under subchapter B of chap- ter 34 (relating to fees on health insurance and self-insured plans) for such fiscal year; and (ii) $150,000,000. (F) For each of fiscal years 2020 through 2029— (i) an amount equivalent to the net reve- nues received in the Treasury from the fees imposed under subchapter B of chap- ter 34 (relating to fees on health insurance and self-insured plans) for such fiscal year; and (ii) the applicable amount (as defined in paragraph (4)) for the fiscal year. The amounts appropriated under subpara- graphs (A), (B), (C), (D)(ii), (E)(ii), and (F)(ii) shall be transferred from the general fund of the Treasury, from funds not otherwise ap- propriated. (2) Trust Fund transfers In addition to the amounts appropriated under paragraph (1), there shall be credited to the PCORTF the amounts transferred under section 1183 of the Social Security Act. (3) Limitation on transfers to PCORTF No amount may be appropriated or trans- ferred to the PCORTF on and after the date of any expenditure from the PCORTF which is not an expenditure permitted under this sec- tion. The determination of whether an expend- iture is so permitted shall be made without re- gard to— (A) any provision of law which is not con- tained or referenced in this chapter or in a revenue Act, and (B) whether such provision of law is a sub- sequently enacted provision or directly or indirectly seeks to waive the application of this paragraph. (4) Applicable amount defined In paragraph (1)(F)(ii), the term ‘‘applicable amount’’ means— (A) for fiscal year 2020, $275,500,000; (B) for fiscal year 2021, $285,000,000; (C) for fiscal year 2022, $293,500,000; (D) for fiscal year 2023, $311,500,000; (E) for fiscal year 2024, $320,000,000; (F) for fiscal year 2025, $338,000,000; (G) for fiscal year 2026, $355,500,000; (H) for fiscal year 2027, $363,500,000; (I) for fiscal year 2028, $381,000,000; and (J) for fiscal year 2029, $399,000,000. (c) Trustee The Secretary of the Treasury shall be a trust- ee of the PCORTF. (d) Expenditures from Fund (1) Amounts available to the Patient-Centered Outcomes Research Institute Subject to paragraph (2), amounts in the PCORTF are available, without further appro- priation, to the Patient-Centered Outcomes Research Institute established under section 1181(b) of the Social Security Act for carrying out part D of title XI of the Social Security Act (as in effect on the date of enactment of such Act). (2) Transfer of funds (A) In general The trustee of the PCORTF shall provide for the transfer from the PCORTF of 20 per- cent of the amounts appropriated or credited to the PCORTF for each of fiscal years 2011 through 2029 to the Secretary of Health and Human Services to carry out section 937 of the Public Health Service Act. (B) Availability Amounts transferred under subparagraph (A) shall remain available until expended. (C) Requirements Of the amounts transferred under subpara- graph (A) with respect to a fiscal year, the Page 4156 TITLE 26—INTERNAL REVENUE CODE § 9601 Secretary of Health and Human Services shall distribute— (i) 80 percent to the Office of Commu- nication and Knowledge Transfer of the Agency for Healthcare Research and Qual- ity (or any other relevant office designated by Agency for Healthcare Research and Quality) to carry out the activities de- scribed in section 937 of the Public Health Service Act; and (ii) 20 percent to the Secretary to carry out the activities described in such section 937. (e) Net revenues For purposes of this section, the term ‘‘net revenues’’ means the amount estimated by the Secretary of the Treasury based on the excess of— (1) the fees received in the Treasury under subchapter B of chapter 34, over (2) the decrease in the tax imposed by chap- ter 1 resulting from the fees imposed by such subchapter. (f) Termination No amounts shall be available for expenditure from the PCORTF after September 30, 2029, and any amounts in such Trust Fund after such date shall be transferred to the general fund of the Treasury. (Added Pub. L. 111–148, title VI, § 6301(e)(1)(A), Mar. 23, 2010, 124 Stat. 742; amended Pub. L. 116–59, div. B, title IV, § 1403, Sept. 27, 2019, 133 Stat. 1107; Pub. L. 116–69, div. B, title IV, § 1403, Nov. 21, 2019, 133 Stat. 1139; Pub. L. 116–94, div. N, title I, § 104(a), Dec. 20, 2019, 133 Stat. 3097.) Editorial Notes REFERENCES IN TEXT The Social Security Act, referred to in subsecs. (b)(2) and (d)(1), is act Aug. 14, 1935, ch. 531, 49 Stat. 620. Part D of title XI of the Act is classified generally to part D (§ 1320e et seq.) of subchapter XI of chapter 7 of Title 42, The Public Health and Welfare. Sections 1181(b) and 1183 of the Act are classified to sections 1320e(b) and 1320e–2, respectively, of Title 42. For complete classi- fication of this Act to the Code, see section 1305 of Title 42 and Tables. The date of enactment of such Act, referred to in sub- sec. (d)(1), probably means the date of enactment of Pub. L. 111–148, which enacted part D of title XI of the Social Security Act and was approved Mar. 23, 2010. Section 937 of the Public Health Service Act, referred to in subsec. (d)(2)(A), (C), is classified to section 299b–37 of Title 42, The Public Health and Welfare. PRIOR PROVISIONS A prior section 9511, added Pub. L. 102–240, title VIII, § 8003(a), Dec. 18, 1991, 105 Stat. 2205; amended Pub. L. 105–130, § 9(c), Dec. 1, 1997, 111 Stat. 2561, related to Na- tional Recreational Trails Trust Fund, prior to repeal by Pub. L. 105–178, title IX, § 9011(a), June 9, 1998, 112 Stat. 508. AMENDMENTS 2019—Subsec. (b)(1). Pub. L. 116–94, § 104(a)(1)(A)(ii), substituted ‘‘(E)(ii), and (F)(ii)’’ for ‘‘and (E)(ii)’’ in concluding provisions. Subsec. (b)(1)(F). Pub. L. 116–94, § 104(a)(1)(A)(i), added subpar. (F). Subsec. (b)(4). Pub. L. 116–94, § 104(a)(1)(B), added par. (4). Subsec. (d)(2)(A). Pub. L. 116–94, § 104(a)(2), sub- stituted ‘‘2029’’ for ‘‘2019’’. Subsec. (f). Pub. L. 116–94, § 104(a)(3), substituted ‘‘September 30, 2029’’ for ‘‘December 20, 2019’’. Pub. L. 116–69 substituted ‘‘December 20’’ for ‘‘Novem- ber 21’’. Pub. L. 116–59 substituted ‘‘November 21’’ for ‘‘Sep- tember 30’’. Subchapter B—General Provisions Sec. 9601. Transfer of amounts. 9602. Management of Trust Funds. § 9601. Transfer of amounts The amounts appropriated by any section of subchapter A to any Trust Fund established by such subchapter shall be transferred at least monthly from the general fund of the Treasury to such Trust Fund on the basis of estimates made by the Secretary of the Treasury of the amounts referred to in such section. Proper ad- justments shall be made in the amounts subse- quently transferred to the extent prior esti- mates were in excess of or less than the amounts required to be transferred. (Added Pub. L. 97–119, title I, § 103(a), Dec. 29, 1981, 95 Stat. 1638.) § 9602. Management of Trust Funds (a) Report It shall be the duty of the Secretary of the Treasury to hold each Trust Fund established by subchapter A, and (after consultation with any other trustees of the Trust Fund) to report to the Congress each year on the financial condi- tion and the results of the operations of each such Trust Fund during the preceding fiscal year and on its expected condition and oper- ations during the next 5 fiscal years. Such re- port shall be printed as a House document of the session of the Congress to which the report is made. (b) Investment (1) In general It shall be the duty of the Secretary of the Treasury to invest such portion of any Trust Fund established by subchapter A as is not, in his judgment, required to meet current with- drawals. Such investments may be made only in interest-bearing obligations of the United States. For such purpose, such obligations may be acquired— (A) on original issue at the issue price, or (B) by purchase of outstanding obligations at the market price. (2) Sale of obligations Any obligation acquired by a Trust Fund es- tablished by subchapter A may be sold by the Secretary of the Treasury at the market price. (3) Interest on certain proceeds The interest on, and the proceeds from the sale or redemption of, any obligations held in a Trust Fund established by subchapter A shall be credited to and form a part of the Trust Fund. (Added Pub. L. 97–119, title I, § 103(a), Dec. 29, 1981, 95 Stat. 1638.)