Summary

Creates a new Treasury trust fund to pay for modernizing U.S. land ports of entry. The measure defines what revenue can be deposited, how those funds may be invested and spent, requires an oversight board and annual reporting, and limits relying on increased user fees to finance the trust fund.

Key Points

• Establishes a Treasury Land Port of Entry Modernization Trust Fund to finance upgrades at land border ports.
• Specifies permitted deposits and authorizes Treasury investment of idle Trust Fund balances.
• Authorizes Trust Fund spending for capital projects, planning, and related costs for port modernization.
• Creates an oversight/advisory board to review spending and provide recommendations.
• Requires annual public reporting on receipts, investments, and expenditures tied to the Trust Fund.
• Limits relying solely on fee increases to fund the Trust Fund and sets rules for transfers.
• Does not change the tax code and does not itself appropriate large, specified yearly sums.

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