§1457 Public Safety Trust Fund

Summary

Creates a Public Safety Trust Fund in the U.S. Treasury. Money in the fund may be used through fiscal year 2022. Any money left after that year goes to the Treasury general fund and must be used only to reduce the federal deficit. As money is put in the fund, it must be paid out in this order: up to $2,000,000,000 to reimburse NTIA for borrowings under section 1427; $135,000,000 to the State and Local Implementation Fund (section 1441); $7,000,000,000 minus any amount borrowed under section 1427 to the Network Construction Fund (section 1426); $100,000,000 to NIST for section 1443; $20,400,000,000 to the Treasury general fund for deficit reduction; $115,000,000 for NHTSA grants under section 942; $200,000,000 to NIST for section 1443; and any remaining amounts to the Treasury general fund for deficit reduction. The fund may be invested under section 9702 of title 31, and interest or investment proceeds return to the fund.