,i #aafth ,,congress #ast ,session ,h4 ,r4 #bhhb ,,in ,,the ,,house ,,of ,,representatives ,may #ba1 #bjai,ms4 ,velzquez introduced the following bill2 which was referred to the ,committee on ,ways and ,means1 and in addition to the ,committee on ,small ,business1 for a period to be subsequently determined by the ,speaker1 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 #aihf and the ,small ,business ,act to reduce costs for certain businesses required to relocate from a ,superfund site1 and for other purposes4 #a4 ,short title ,this ,act may be cited as the ,superfund ,enhancement ,act of #bjai4 #b4 ,extension and modification of ,superfund excise taxes 7a7 ,extension ,subsection 7e7 of section #dfaa of the ,internal ,revenue ,code of #aihf is amended to read as follows3 7e7 ,application of hazardous substance superfund financing rate ,the ,hazardous ,substance ,superfund financing rate under this section shall apply after ,december #ca1 #aihf1 and before ,january #a1 #aiif1 and after the date that is #fj days after the date of the enactment of the ,superfund ,enhancement ,act of #bjai4 4 7b7 ,modification of ,hazardous ,substance ,superfund financing rate 7#a7 ,in general ,section #dfaa7;c77#b77;,a7 of such ,code is amended by striking #i4g cents and inserting #ae4h cents4 7#b7 ,inflation adjustment ,section #dfaa7;c7 of such ,code is amended by adding at the end the following new paragraph3 7#c7 ,adjustment for inflation 7,a7 ,in general ,in the case of any taxable year beginning after ,december #ca1 #bjai1 the amount under paragraph 7#b77;,a7 shall be increased by an amount equal to-- 7i7 such amount1 multiplied by 7ii7 the cost-of-living adjustment determined under section #a7;f77#c7 for the calendar year in which such taxable year begins by substituting calendar year #bjah for calendar year #bjaf in subparagraph 7,a77ii7 thereof4 7,b7 ,rounding ,if any increase determined under this paragraph is not a multiple of #j4a cents1 such increase shall be rounded to the next lowest multiple of #j4a cents4 4 7c7 ,modification of rate of tax on certain chemicals ,section #dffa7;b7 of the ,internal ,revenue ,code of #aihf is amended to read as follows3 7b7 ,amount of tax 7#a7 ,in general ,the amount of tax imposed by subsection 7a7 shall be determined in accordance with the following table3 ,in the case of3,the tax is the following amount per ton3 ,acetylene#aa4jj ,benzene#aa4jj ,butane#aa4jj ,butylene#aa4jj ,butadiene#aa4jj ,ethylene#aa4jj ,methane#g4gg ,napthalene#aa4jj ,propylene#aa4jj ,toluene#aa4jj ,xylene#aa4jj ,ammonia#e4if ,antimony#aj4je ,antimony trioxide#h4dg ,arsenic#aj4je ,arsenic trioxide#g4gj ,barium sulfide#e4ai ,bromine#aj4je ,cadmium#aj4je ,chlorine#f4aj ,chromium#aj4je ,chromite#c4dc ,potassium dichromate#c4hb ,sodium dichromate#d4bb ,cobalt#aj4je ,cupric sulfate#d4bb ,cupric oxide#h4aa ,cuprous oxide#h4if ,hydrochloric acid#j4fe ,hydrogen fluoride#i4ee ,lead oxide#i4ce ,mercury#aj4je ,nickel#aj4je ,phosphorus#aj4je ,stannous chloride#f4dc ,stannic chloride#d4gi ,zinc chloride#e4ja ,zinc sulfate#d4bi ,potassium hydroxide#j4ej ,sodium hydroxide#j4fc ,sulfuric acid#j4ei ,nitric acid#j4ed4 7#b7 ,adjustment for inflation 7,a7 ,in general ,in the case of any taxable year beginning after ,december #ca1 #bjai1 each of the dollar amounts in the table in paragraph 7#a7 shall be increased by an amount equal to-- 7i7 such amount1 multiplied by 7ii7 the cost-of-living adjustment determined under section #a7;f77#c7 for the calendar year in which such taxable year begins by substituting calendar year #bjah for calendar year #bjaf in subparagraph 7,a77ii7 thereof4 7,b7 ,rounding ,if any increase determined under this paragraph is not a multiple of #j4ja1 such increase shall be rounded to the next lowest multiple of #j4ja4 4 7d7 ,effective date ,the amendments made by this section shall apply to oil and petroleum products received or entered during calendar quarters beginning more than #fj days after the date of the enactment of this ,act4 #c4 ,clarification of definition of crude oil for excise tax purposes 7a7 ,definition of crude oil ,paragraph 7#a7 of section #dfab7;a7 of the ,internal ,revenue ,code of #aihf is amended to read as follows3 7#a7 ,crude oil ,the term crude oil includes crude oil condensates1 natural gasoline1 any bitumen or bituminous mixture1 any oil derived from a bitumen or bituminous mixture 7including oil derived from tar sands71 and any oil derived from kerogen-bearing sources 7including oil derived from oil shale74 4 7b7 ,effective date ,the amendment made by this section shall apply to oil and petroleum products received or entered during calendar quarters beginning more than #fj days after the date of the enactment of this ,act4 #d4 ,deduction for expenses in connection with moving from a site listed on national priorities list 7a7 ,in general ,part ,,vi of subchapter ,b of chapter #a of the ,internal ,revenue ,code of #aihf is amended by inserting after section #aih the following new section3 #aih;,a4 ,expenses in connection with moving from a site listed on national priorities list 7a7 ,in general ,a qualified small business may elect to treat as an expense which is not chargeable to capital account1 and deductible in the year in which paid or incurred1 so much of the qualified environmental disaster moving expenses which are paid or incurred by the taxpayer for the taxable year as do not exceed #aj1jjj4 7b7 ,qualified small business ,for purposes of this section1 the term qualified small business means any person which is a small business concern 7as defined under section #c of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcb77 at all times during the preceding taxable year4 7c7 ,qualified environmental disaster moving expense ,for purposes of this section1 the term qualified environmental disaster moving expense means any expenditure-- 7#a7 which is otherwise chargeable to capital account1 and 7#b7 which is paid or incurred in connection with relocating a trade or business carried on in a location which is situated on1 or adjacent to1 a site which is on1 or proposed for1 the national priorities list under section #aje7;a77#h77;,b7 of the ,comprehensive ,environmental ,response1 ,compensation1 and ,liability ,act of #aihj4 7d7 ,special rules ,for purposes of this section-- 7#a7 ,potentially responsible parties excluded ,no amount shall be taken into account under subsection 7a7 by a person who under section #ajg7;a7 of the ,comprehensive ,environmental ,response1 ,compensation1 and ,liability ,act of #aihj is potentially liable with respect to the site described in subsection 7c77#b74 7#b7 ,controlled groups ,all members of the same controlled group of corporations 7within the meaning of section #eb7;a77 and all persons under common control 7within the meaning of section #eb7;b77 shall be treated as #a person for purposes of this section4 7#c7 ,partnerships and ,s corporations ,in the case of a partnership1 the #aj1jjj limitation under subsection 7a7 shall apply with respect to the partnership and each partner4 ,a similar rule shall apply in the case of an ,s corporation and its shareholders4 7#d7 ,denial of double benefit ,in the case of the amount of the deduction determined under this section-- 7,a7 no deduction or credit shall be allowed for such amount under any other provision of this chapter1 and 7,b7 no increase in the adjusted basis of any property shall result from such amount4 4 7b7 ,clerical amendment ,the table of sections for part ,,vi of subchapter ,b of chapter #a of such ,code is amended by inserting after the item relating to section #aih the following new item3 ,sec4 #aih;,a4 ,expenses in connection with moving from a site listed on national priorities list4 4 7c7 ,effective date ,the amendments made by this section shall apply to amounts paid or incurred in taxable years beginning after the date of the enactment of this ,act4 #e4 ,disaster loans to small business concerns for relocation from a ,superfund site 7a7 ,establishment ,the ,administrator of the ,small ,business ,administration shall establish and carry out a pilot program under which the ,administrator shall provide direct loans to an eligible person to assist such eligible person in relocating the principal place of business or primary place of residence of such eligible person1 if the principal place of business or primary place of residence is located in an area that is designated as a ,superfund site on a date after-- 7#a7 with respect to an eligible person that is a small business concern1 the establishment of the principal place of business2 and 7#b7 with respect to an eligible person that is an individual1 the establishment of a primary place of residence4 7b7 ,loan terms ,a loan made under the program established under subsection 7a7 shall-- 7#a7 be subject to the same limitations as a loan described under section #g7;b77#h7 of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcf7;b77#h772 and 7#b7 have a term of #e years4 7c7 ,eligibility for economic injury disaster loans 7#a7 ,in general ,the ,administrator may make a loan pursuant to section #g7;b77#b7 of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcf7;b77#b77 to assist an eligible person that is a small business concern that has suffered substantial economic injury as a result of the location of the eligible person in a ,superfund site4 7#b7 ,no duplication of benefits ,an eligible person described in paragraph 7#a7 may receive a loan under subsection 7a7 and section #g7;b77#b7 of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcf7;b77#b774 7#c7 ,potentially responsible parties excluded ,no loan may be made to a person who under section #ajg7;a7 of the ,comprehensive ,environmental ,response1 ,compensation1 and ,liability ,act of #aihj is potentially liable with respect to the ,superfund site4 7d7 ,definitions ,in this section3 7#a7 ,eligible person ,the term eligible person means-- 7,a7 a small business concern 7as defined under section #c of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcb77 for which the principal place of business of the concern is required to relocate because such concern is located on or near a ,superfund site2 or 7,b7 an individual whose primary place of residence is located on or adjacent to a ,superfund site4 7#b7 ,substantial economic injury ,the term substantial economic injury has the meaning given under section #g7;b77#c7 of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcf7;b77#c774 7#c7 ,superfund site ,the term ,superfund site means a site that is included on the ,national ,priorities ,list developed by the ,president in accordance with section #aje7;a77#h77;,b7 of the ,comprehensive ,environmental ,response1 ,compensation1 and ,liability ,act of #aihj 7#db ,u4,s4,c4 #ifje7;a77#h77;,b774 7e7 ,authorization of appropriations ,there is authorized to be appropriated to the ,administrator #aj1jjj1jjj for fiscal years #bjbj through #bjbd4 #f4 ,eligibility for economic injury loans ,section #g7;b7 of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcf7;b77 is amended-- 7#a7 in paragraph 7#b71 by inserting to any eligible concern pursuant to paragraph 7#af71 or2 and 7#b7 by inserting after paragraph 7#ae7 the following new paragraph3 7#af7 ,economic injury loans for eligible concerns 7,a7 ,in general ,the ,administrator may make a loan under paragraph 7#b7 to an eligible concern regardless of whether a disaster has occurred in the area in which the eligible concern is located4 7,b7 ,definitions 7i7 ,eligible concern ,the term eligible concern means a small business concern for which the principal place of business of the concern is required to relocate because such concern is located on or near a ,superfund site4 7ii7 ,superfund site ,the term ,superfund site means a site that is included on the ,national ,priorities ,list developed by the ,president in accordance with section #aje7;a77#h77;,b7 of the ,comprehensive ,environmental ,response1 ,compensation1 and ,liability ,act of #aihj 7#db ,u4,s4,c4 #ifje7;a77#h77;,b774 4