[Congressional Bills 117th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2674 Introduced in House (IH)]
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117th CONGRESS
1st Session
H. R. 2674
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
April 20, 2021
Mr. Blumenauer (for himself, Ms. Barragan, Mr. Cartwright, Mr. Cleaver,
Mr. Cohen, Mr. Garcia of Illinois, Mr. Grijalva, Mr. Huffman, Ms.
Jayapal, Mr. Jones, Mr. Kildee, Ms. Newman, Ms. Norton, Mr. Pallone,
and Mr. Sires) 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, 2029''.
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.''.
(2) Adjustment for inflation.--
(A) Section 4611(c)(2)(A) of such Code is amended
by striking ``9.7 cents'' and inserting ``16.4 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 2021, 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 2020' for `calendar year 2016'
in subparagraph (A)(ii) 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 $14.30
Benzene 14.30
Butane 14.30
Butylene 14.30
Butadiene 14.30
Ethylene 14.30
Methane 10.10
Naphthalene 14.30
Propylene 14.30
Toluene 14.30
Xylene 14.30
Ammonia 7.75
Antimony 13.06
Antimony trioxide 11.01
Arsenic 13.06
Arsenic trioxide 10.01
Barium sulfide 6.75
Bromine 13.06
Cadmium 13.06
Chlorine 7.93
Chromium 13.06
Chromite 4.46
Potassium dichromate 4.96
Sodium dichromate 5.49
Cobalt 13.06
Cupric sulfate 5.49
Cupric oxide 10.54
Cuprous oxide 11.66
Hydrochloric acid 0.85
Hydrogen fluoride 12.42
Lead oxide 12.15
Mercury 13.06
Nickel 13.06
Phosphorus 13.06
Stannous chloride 8.37
Stannic chloride 6.22
Zinc chloride 6.52
Zinc sulfate 5.58
Potassium hydroxide 0.65
Sodium hydroxide 0.82
Sulfuric acid 0.76
Nitric acid 0.70.
------------------------------------------------------------------------
``(2) Adjustment for inflation.--
``(A) In general.--In the case of a calendar year
beginning after 2021, 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 2020' for `calendar year 2016'
in subparagraph (A)(ii) 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 such Code is
amended by inserting after part VII the following:
``PART VIII--ENVIRONMENTAL TAX
``Sec. 59B. Environmental tax.
``SEC. 59B. 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 environmental tax taxable income of such
corporation for the taxable year, over
``(2) $4,700,000.
``(b) Modified Environmental Tax Taxable Income.--For purposes of
this section, the term `modified environmental tax taxable income'
means taxable income determined without regard to--
``(1) the net operating loss deduction allowable under
section 172, 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 2021, 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 2020' for `calendar year 2016' in
subparagraph (A)(ii) 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.''.
(2) Conforming amendments.--
(A) Paragraph (2) of section 26(b) of such Code is
amended by striking ``and'' at the end of subparagraph
(X), by striking the period at the end of subparagraph
(Y) and inserting ``, and'', and by adding at the end
the following new subparagraph:
``(Z) section 59B (relating to environmental
tax).''.
(B) Subsection (a) of section 164 of such Code is
amended by inserting after paragraph (4) the following:
``(5) The environmental tax imposed by section 59B.''.
(C) 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 59B.''.
(D) Section 882(a)(1) of such Code is amended by
striking ``or 59A'' and inserting ``, 59A, or 59B''.
(E) Section 1561(a) of such Code is amended by
inserting ``and one dollar amount in effect under
section 59B(a)(2) for the taxable year for purposes of
computing the tax imposed by section 59B'' after
``under section 535(c)(2) and (3)''.
(F) Section 6425(c)(1)(A) of such Code is amended
by striking ``plus'' at end of clause (i), by striking
``over'' at the end of clause (ii) and inserting
``plus'', and by inserting after clause (ii) the
following:
``(iii) the tax imposed by section 59B,
over''.
(G) Section 6655 of such Code is amended--
(i) in subsections (e)(2)(A)(i) and
(e)(2)(B)(i), by striking ``taxable income and
modified taxable income'' and inserting
``taxable income, modified taxable income, and
modified environmental tax taxable income'';
(ii) in subsection (e)(2)(B), by inserting
after clause (ii) the following:
``(iii) Modified environmental tax taxable
income.--The term `modified environmental tax
taxable income' has the meaning given to such
term by section 59B(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 59B,
plus''.
(H) Section 9507(b)(1) of such Code is amended by
inserting ``59B,'' 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 VII the following new item:
``Part VIII. Environmental Tax''.
(d) 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.
(e) 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, 2021.
(2) Corporate environmental income tax.--The amendment made
by section 4(c) shall apply to taxable years beginning after
December 31, 2021.
SEC. 5. APPLICABILITY.
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, 2021.
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