[Congressional Bills 114th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2768 Introduced in House (IH)]
114th CONGRESS
1st Session
H. R. 2768
To amend the Internal Revenue Code of 1986 to provide for the use of
funds in the Hazardous Substance Superfund for the purposes for which
they were collected, to ensure adequate resources for the cleanup of
hazardous substances under the Comprehensive Environmental Response,
Compensation, and Liability Act of 1980, and for other purposes.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
June 15, 2015
Mr. Blumenauer (for himself, Mr. Keating, Ms. Norton, Mr. Grijalva, Mr.
Gutierrez, Mr. Beyer, Mr. Honda, Ms. Slaughter, Mr. Pallone, Mr.
Pascrell, Mr. Connolly, Ms. Judy Chu of California, Mr. Conyers, Mr.
Schiff, Mr. Cartwright, Mr. Huffman, and Mr. McNerney) introduced the
following bill; which was referred to the Committee on Ways and Means,
and in addition to the Committees on Transportation and Infrastructure,
Energy and Commerce, and the Budget, for a period to be subsequently
determined by the Speaker, in each case for consideration of such
provisions as fall within the jurisdiction of the committee concerned
_______________________________________________________________________
A BILL
To amend the Internal Revenue Code of 1986 to provide for the use of
funds in the Hazardous Substance Superfund for the purposes for which
they were collected, to ensure adequate resources for the cleanup of
hazardous substances under the Comprehensive Environmental Response,
Compensation, and Liability Act of 1980, and for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Superfund Reinvestment Act''.
SEC. 2. USE OF HAZARDOUS SUBSTANCE SUPERFUND FOR CLEANUP.
(a) Availability of Amounts.--Section 111 of the Comprehensive
Environmental Response, Compensation, and Liability Act of 1980 (42
U.S.C. 9611) is amended--
(1) in subsection (a) by striking ``For the purposes
specified'' and all that follows through ``for the following
purposes:'' and inserting the following: ``The amount in the
Hazardous Substance Superfund established under section 9507 of
the Internal Revenue Code of 1986 shall be available, without
further appropriation, to be used for the purposes specified in
this section. The President shall use such amount for the
following purposes:''; and
(2) in subsection (c)--
(A) by striking ``Subject to such amounts as are
provided in appropriations Acts, the'' each place it
appears and inserting ``The''; and
(B) in paragraph (12) by striking ``to the extent
that such costs'' and all that follows through ``and
1994''.
(b) Amendment to the Internal Revenue Code.--Section 9507 of the
Internal Revenue Code of 1986 is amended--
(1) by striking ``appropriated to'' in subsection (a)(1)
and inserting ``made available for'';
(2) by striking ``appropriated'' in subsection (b) and
inserting ``transferred'';
(3) by striking ``, as provided in appropriations Acts,''
in subsection (c)(1); and
(4) by striking ``December 31, 1995'' in subsection
(d)(3)(B) and inserting ``December 31, 2024''.
SEC. 3. BUDGETARY TREATMENT OF HAZARDOUS SUBSTANCE SUPERFUND.
Notwithstanding any other provision of law, the receipts and
disbursements of the Hazardous Substance Superfund established in
section 9507 of the Internal Revenue Code of 1986--
(1) shall not be counted as new budget authority, outlays,
receipts, or deficit or surplus for purposes of--
(A) the budget of the United States Government as
submitted by the President;
(B) the congressional budget (including allocations
of budget authority and outlays provided therein);
(C) the Balanced Budget and Emergency Deficit
Control Act of 1985; or
(D) the Statutory Pay-As-You-Go Act of 2010;
(2) shall be exempt from any general budget limitation
imposed by statute on expenditures and net lending (budget
outlays) of the United States Government; and
(3) shall be available only for the purposes specified in
section 111 of the Comprehensive Environmental Response,
Compensation, and Liability Act of 1980 (42 U.S.C. 9611).
SEC. 4. MODIFICATION OF SUPERFUND TAXES.
(a) Hazardous Substance Superfund Financing Rate.--
(1) Extension.--Subsection (e) of section 4611 of the
Internal Revenue Code of 1986 is amended to read as follows:
``(e) Application of Hazardous Substance Superfund Financing
Rate.--The Hazardous Substance Superfund financing rate under this
section shall apply after December 31, 1986, and before January 1,
1996, and after the date of the enactment of the Superfund Reinvestment
Act and before January 1, 2025.''.
(2) Adjustment for inflation.--
(A) Section 4611(c)(2)(A) of such Code is amended
by striking ``9.7 cents'' and inserting ``16.3 cents''.
(B) Section 4611(c) of such Code is amended by
adding at the end the following:
``(3) Adjustment for inflation.--
``(A) In general.--In the case of a year beginning
after 2016, the amount in paragraph (2)(A) shall be
increased by an amount equal to--
``(i) such amount, multiplied by
``(ii) the cost-of-living adjustment
determined under section 1(f)(3) for the
calendar year, determined by substituting
`calendar year 2015' for `calendar year 1992'
in subparagraph (B) thereof.
``(B) Rounding.--If any amount as adjusted under
subparagraph (A) is not a multiple of $0.01, such
amount shall be rounded to the next lowest multiple of
$0.01.''.
(b) Adjustment of Excise Tax on Certain Chemicals for Inflation.--
Section 4661(b) of such Code is amended to read as follows:
``(b) Amount of Tax.--
``(1) In general.--The amount of the tax imposed by
subsection (a) shall be determined in accordance with the
following table:
------------------------------------------------------------------------
The tax is the
``In the case of: following amount per
ton:
------------------------------------------------------------------------
Acetylene $11.35
Benzene 11.35
Butane 11.35
Butylene 11.35
Butadiene 11.35
Ethylene 11.35
Methane 8.02
Naphthalene 11.35
Propylene 11.35
Toluene 11.35
Xylene 11.35
Ammonia 6.15
Antimony 10.37
Antimony trioxide 8.74
Arsenic 10.37
Arsenic trioxide 7.95
Barium sulfide 5.36
Bromine 10.37
Cadmium 10.37
Chlorine 6.29
Chromium 10.37
Chromite 3.54
Potassium dichromate 3.94
Sodium dichromate 4.36
Cobalt 10.37
Cupric sulfate 4.36
Cupric oxide 8.37
Cuprous oxide 9.25
Hydrochloric acid 0.68
Hydrogen fluoride 9.86
Lead oxide 9.65
Mercury 10.37
Nickel 10.37
Phosphorus 10.37
Stannous chloride 6.64
Stannic chloride 4.94
Zinc chloride 5.17
Zinc sulfate 4.43
Potassium hydroxide 0.51
Sodium hydroxide 0.65
Sulfuric acid 0.61
Nitric acid 0.56.
------------------------------------------------------------------------
``(2) Adjustment for inflation.--
``(A) In general.--In the case of a calendar year
beginning after 2016, each of the amounts in the table
in paragraph (1) shall be increased by an amount equal
to--
``(i) such amount, multiplied by
``(ii) the cost-of-living adjustment
determined under section 1(f)(3) for the
calendar year, determined by substituting
`calendar year 2015' for `calendar year 1992'
in subparagraph (B) thereof.
``(B) Rounding.--If any amount as adjusted under
subparagraph (A) is not a multiple of $0.01, such
amount shall be rounded to the next lowest multiple of
$0.01.''.
(c) Corporate Environmental Income Tax Reinstated.--
(1) In general.--Subchapter A of chapter 1 of the such Code
is amended by inserting after part VI the following:
``PART VII--ENVIRONMENTAL TAX
``SEC. 59A. ENVIRONMENTAL TAX.
``(a) Imposition of Tax.--In the case of a corporation, there is
hereby imposed (in addition to any other tax imposed by this subtitle)
a tax equal to 0.12 percent of the excess of--
``(1) the modified alternative minimum taxable income of
such corporation for the taxable year, over
``(2) $3,735,000.
``(b) Modified Alternative Minimum Taxable Income.--For purposes of
this section, the term `modified alternative minimum taxable income'
means alternative minimum taxable income (as defined in section
55(b)(2)) but determined without regard to--
``(1) the alternative tax net operating loss deduction (as
defined in section 56(d)), and
``(2) the deduction allowed under section 164(a)(5).
``(c) Exception for RICs and REITs.--The tax imposed by subsection
(a) shall not apply to--
``(1) a regulated investment company to which part I of
subchapter M applies, and
``(2) a real estate investment trust to which part II of
subchapter M applies.
``(d) Special Rules.--
``(1) Short taxable years.--The application of this section
to taxable years of less than 12 months shall be in accordance
with regulations prescribed by the Secretary.
``(2) Section 15 not to apply.--Section 15 shall not apply
to the tax imposed by this section.
``(e) Adjustment for Inflation.--
``(1) In general.--In the case of a taxable year beginning
after 2016, the dollar amount in subsection (a)(2) shall be
increased by an amount equal to--
``(A) such amount, multiplied by
``(B) the cost-of-living adjustment determined
under section 1(f)(3) for the calendar year in which
the taxable year begins, determined by substituting
`calendar year 2015' for `calendar year 1992' in
subparagraph (B) thereof.
``(2) Rounding.--If any amount as adjusted under
subparagraph (A) is not a multiple of $1,000, such amount shall
be rounded to the next lowest multiple of $1,000.
``(f) Application of Tax.--The tax imposed by this section shall
apply to taxable years ending after the date of the enactment of the
Superfund Reinvestment Act and beginning before January 1, 2025.''.
(2) Conforming amendments.--
(A) Paragraph (2) of section 26(b) of such Code is
amended by inserting after subparagraph (A) the
following:
``(B) section 59A (relating to environmental
tax),''.
(B) Section 30A(c) of such Code is amended by
redesignating paragraphs (1), (2), and (3) as
paragraphs (2), (3), and (4), respectively, and by
inserting before paragraph (2) (as so redesignated) the
following:
``(1) section 59A (relating to environmental tax),''.
(C) Subsection (a) of section 164 of such Code is
amended by inserting after paragraph (4) the following:
``(5) The environmental tax imposed by section 59A.''.
(D) Section 275(a) of such Code is amended by
inserting at the end the following flush sentence:
``Paragraph (1) shall not apply to the tax imposed by
section 59A.''.
(E) Section 882(a)(1) of such Code is amended by
inserting ``59A,'' after ``55,''.
(F) Section 1561(a) of such Code is amended--
(i) by striking ``and'' at the end of
paragraph (2),
(ii) by striking the period at the end of
paragraph (3) and inserting ``, and'',
(iii) by inserting after paragraph (3) the
following:
``(4) one dollar amount in effect under section 59A(a)(2)
for the taxable year for purposes of computing the tax imposed
by section 59A.'', and
(iv) by striking ``and the amount specified
in paragraph (3)'' and inserting ``, the amount
specified in paragraph (3), and the amount
specified in paragraph (4)''.
(G) Section 6425(c)(1)(A) of such Code is amended
by striking ``plus'' at end of clause (i), by inserting
``plus'' at the end of clause (ii), and by inserting
after clause (ii) the following:
``(iii) the tax imposed by section 59A,
over''.
(H) Section 6655 of such Code is amended--
(i) in subsections (e)(2)(A)(i) and
(e)(2)(B)(i), by striking ``taxable income and
alternative minimum taxable income'' and
inserting ``taxable income, alternative minimum
taxable income, and modified alternative
minimum taxable income'',
(ii) in subsection (e)(2)(B), by inserting
after clause (ii) the following:
``(iii) Modified alternative minimum
taxable income.--The term `modified alternative
minimum taxable income' has the meaning given
to such term by section 59A(b).'', and
(iii) in subsection (g)(1)(A), by striking
``plus'' at the end of clause (ii), by
redesignating clause (iii) as clause (iv) and
by inserting after clause (ii) the following:
``(iii) the tax imposed by section 59A,
plus''.
(I) Section 9507(b)(1) of such Code is amended by
inserting ``59A,'' before ``4611''.
(3) Clerical amendment.--The table of parts for subchapter
A of chapter 1 of such Code is amended by inserting after the
item relating to part VI the following new item:
``Part VII. Environmental Tax''.
(d) Clarification of Tar Sands as Crude Oil for Excise Tax
Purposes.--
(1) In general.--Section 4612(a)(1) of such Code is amended
to read as follows:
``(1) Crude oil.--The term `crude oil' includes crude oil
condensates, natural gasoline, any bitumen or bituminous
mixture, any oil derived from a bitumen or bituminous mixture
(including oil derived from tar sands), and any oil derived
from kerogen-bearing sources (including oil derived from oil
shale).''.
(2) Technical amendment.--Section 4612(a)(2) of such Code
is amended by striking ``from a well located''.
(e) Technical Amendments.--
(1) Subsection (b) of section 4611 of such Code is
amended--
(A) by striking ``or exported from'' in paragraph
(1)(A);
(B) by striking ``or exportation'' in paragraph
(1)(B); and
(C) by striking ``and Exportation'' in the heading
thereof.
(2) Paragraph (3) of section 4611(d) of such Code is
amended--
(A) by striking ``or exporting the crude oil, as
the case may be'' and inserting ``the crude oil''; and
(B) by striking ``or exports'' in the heading
thereof.
(f) Effective Date.--
(1) In general.--Except as provided in paragraph (2), the
amendments made by this section shall apply to oil and
petroleum products received or entered during calendar quarters
beginning after December 31, 2015.
(2) Corporate environmental income tax.--The amendment made
by section 4(c) shall apply to taxable years beginning after
December 31, 2015.
SEC. 5. APPLICABILITY.
(a) In General.--Except as provided in section 4(f), this Act
(including the amendments made by this Act) shall apply to fiscal years
beginning after September 30, 2015.
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