,i #aafth ,,congress #ast ,session ,h4 ,r4 #djhh ,,in ,,the ,,house ,,of ,,representatives ,july #bf1 #bjai,mr4 ,blumenauer 7for himself1 ,mr4 ,connolly1 ,mr4 ,mc,nerney1 ,ms4 ,sewell of ,alabama1 ,ms4 ,norton1 ,mr4 ,grijalva1 and ,mr4 ,cartwright7 introduced the following bill2 which was referred to the ,committee on ,ways and ,means1 and in addition to the ,committees on ,transportation and ,infrastructure1 ,energy and ,commerce1 and the ,budget1 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 to provide for the use of funds in the ,hazardous ,substance ,superfund for the purposes for which they were collected1 to ensure adequate resources for the cleanup of hazardous substances under the ,comprehensive ,environmental ,response1 ,compensation1 and ,liability ,act of #aihj1 and for other purposes4 #a4 ,short title ,this ,act may be cited as the ,superfund ,reinvestment ,act4 #b4 ,use of ,hazardous ,substance ,superfund for cleanup 7a7 ,availability of amounts ,section #aaa of the ,comprehensive ,environmental ,response1 ,compensation1 and ,liability ,act of #aihj 7#db ,u4,s4,c4 #ifaa7 is amended-- 7#a7 in subsection 7a7 by striking ,for the purposes specified and all that follows through for the following purposes3 and inserting the following3 ,the amount in the ,hazardous ,substance ,superfund established under section #iejg of the ,internal ,revenue ,code of #aihf shall be available1 without further appropriation1 to be used for the purposes specified in this section4 ,the ,president shall use such amount for the following purposes32 and 7#b7 in subsection 7c7-- 7,a7 by striking ,subject to such amounts as are provided in appropriations ,acts1 the each place it appears and inserting ,the2 and 7,b7 in paragraph 7#ab7 by striking to the extent that such costs and all that follows through and #aiid4 7b7 ,amendment to the ,internal ,revenue ,code ,section #iejg of the ,internal ,revenue ,code of #aihf is amended-- 7#a7 by striking appropriated to in subsection 7a77#a7 and inserting made available for2 7#b7 by striking appropriated in subsection 7b7 and inserting transferred2 7#c7 by striking 1 as provided in appropriations ,acts1 in subsection 7c77#a72 and 7#d7 by striking ,december #ca1 #aiie in subsection 7d77#c77;,b7 and inserting ,december #ca1 #bjbh4 #c4 ,budgetary treatment of ,hazardous ,substance ,superfund ,notwithstanding any other provision of law1 the receipts and disbursements of the ,hazardous ,substance ,superfund established in section #iejg of the ,internal ,revenue ,code of #aihf-- 7#a7 shall not be counted as new budget authority1 outlays1 receipts1 or deficit or surplus for purposes of-- 7,a7 the budget of the ,united ,states ,government as submitted by the ,president2 7,b7 the congressional budget 7including allocations of budget authority and outlays provided therein72 7,c7 the ,balanced ,budget and ,emergency ,deficit ,control ,act of #aihe2 or 7,d7 the ,statutory ,pay-,as-,you-,go ,act of #bjaj2 7#b7 shall be exempt from any general budget limitation imposed by statute on expenditures and net lending 7budget outlays7 of the ,united ,states ,government2 and 7#c7 shall be available only for the purposes specified in section #aaa of the ,comprehensive ,environmental ,response1 ,compensation1 and ,liability ,act of #aihj 7#db ,u4,s4,c4 #ifaa74 #d4 ,modification of ,superfund taxes 7a7 ,hazardous ,substance ,superfund financing rate 7#a7 ,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 of the enactment of the ,superfund ,reinvestment ,act and before ,january #a1 #bjbi4 4 7#b7 ,adjustment for inflation 7,a7 ,section #dfaa7;c77#b77;,a7 of such ,code is amended by striking #i4g cents and inserting #af4c cents4 7,b7 ,section #dfaa7;c7 of such ,code is amended by adding at the end the following3 7#c7 ,adjustment for inflation 7,a7 ,in general ,in the case of a year beginning after #bjbj1 the amount in 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 year1 determined by substituting calendar year #bjai for calendar year #bjaf in subparagraph 7,a77ii7 thereof4 7,b7 ,rounding ,if any amount as adjusted under subparagraph 7,a7 is not a multiple of #j4ja1 such amount shall be rounded to the next lowest multiple of #j4ja4 4 7b7 ,adjustment of excise tax on certain chemicals for inflation ,section #dffa7;b7 of such ,code is amended to read as follows3 7b7 ,amount of tax 7#a7 ,in general ,the amount of the 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#aa4ce ,benzene#aa4ce ,butane#aa4ce ,butylene#aa4ce ,butadiene#aa4ce ,ethylene#aa4ce ,methane#h4jb ,naphthalene#aa4ce ,propylene#aa4ce ,toluene#aa4ce ,xylene#aa4ce ,ammonia#f4ae ,antimony#aj4cg ,antimony trioxide#h4gd ,arsenic#aj4cg ,arsenic trioxide#g4ie ,barium sulfide#e4cf ,bromine#aj4cg ,cadmium#aj4cg ,chlorine#f4bi ,chromium#aj4cg ,chromite#c4ed ,potassium dichromate#c4id ,sodium dichromate#d4cf ,cobalt#aj4cg ,cupric sulfate#d4cf ,cupric oxide#h4cg ,cuprous oxide#i4be ,hydrochloric acid#j4fh ,hydrogen fluoride#i4hf ,lead oxide#i4fe ,mercury#aj4cg ,nickel#aj4cg ,phosphorus#aj4cg ,stannous chloride#f4fd ,stannic chloride#d4id ,zinc chloride#e4ag ,zinc sulfate#d4dc ,potassium hydroxide#j4ea ,sodium hydroxide#j4fe ,sulfuric acid#j4fa ,nitric acid#j4ef4 7#b7 ,adjustment for inflation 7,a7 ,in general ,in the case of a calendar year beginning after #bjbj1 each of the 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 year1 determined by substituting calendar year #bjai for calendar year #bjaf in subparagraph 7,a77ii7 thereof4 7,b7 ,rounding ,if any amount as adjusted under subparagraph 7,a7 is not a multiple of #j4ja1 such amount shall be rounded to the next lowest multiple of #j4ja4 4 7c7 ,corporate environmental income tax reinstated 7#a7 ,in general ,subchapter ,a of chapter #a of such ,code is amended by inserting after part ,,vii the following3 ,,viii ,environmental ,tax ,sec4 #ei;,b4 ,environmental tax4 #ei;,b4 ,environmental tax 7a7 ,imposition of tax ,in the case of a corporation1 there is hereby imposed 7in addition to any other tax imposed by this subtitle7 a tax equal to #j4ab percent of the excess of-- 7#a7 the modified environmental tax taxable income of such corporation for the taxable year1 over 7#b7 #c1gce1jjj4 7b7 ,modified environmental tax taxable income ,for purposes of this section1 the term modified environmental tax taxable income means taxable income determined without regard to-- 7#a7 the net operating loss deduction allowable under section #agb1 and 7#b7 the deduction allowed under section #afd7;a77#e74 7c7 ,exception for ,r,i,cs and ,r,e,i,ts ,the tax imposed by subsection 7a7 shall not apply to-- 7#a7 a regulated investment company to which part ,i of subchapter ,m applies1 and 7#b7 a real estate investment trust to which part ,,ii of subchapter ,m applies4 7d7 ,special rules 7#a7 ,short taxable years ,the application of this section to taxable years of less than #ab months shall be in accordance with regulations prescribed by the ,secretary4 7#b7 ,section #ae not to apply ,section #ae shall not apply to the tax imposed by this section4 7e7 ,adjustment for inflation 7#a7 ,in general ,in the case of a taxable year beginning after #bjbj1 the dollar amount in subsection 7a77#b7 shall be increased by an amount equal to-- 7,a7 such amount1 multiplied by 7,b7 the cost-of-living adjustment determined under section #a7;f77#c7 for the calendar year in which the taxable year begins1 determined by substituting calendar year #bjai for calendar year #bjaf in subparagraph 7,a77ii7 thereof4 7#b7 ,rounding ,if any amount as adjusted under subparagraph 7,a7 is not a multiple of #a1jjj1 such amount shall be rounded to the next lowest multiple of #a1jjj4 7f7 ,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 #a1 #bjbi4 4 7#b7 ,conforming amendments 7,a7 ,paragraph 7#b7 of section #bf7;b7 of such ,code is amended by striking and at the end of subparagraph 7,x71 by striking the period at the end of subparagraph 7,y7 and inserting 1 and1 and by adding at the end the following new subparagraph3 7,z7 section #ei;,b 7relating to environmental tax74 4 7,b7 ,subsection 7a7 of section #afd of such ,code is amended by inserting after paragraph 7#d7 the following3 7#e7 ,the environmental tax imposed by section #ei;,b4 4 7,c7 ,section #bge7;a7 of such ,code is amended by inserting at the end the following flush sentence3 ,paragraph 7#a7 shall not apply to the tax imposed by section #ei;,b44 7,d7 ,section #hhb7;a77#a7 of such ,code is amended by striking or #ei;,a and inserting 1 #ei;,a1 or #ei;,b4 7,e7 ,section #aefa7;a7 of such ,code is amended by inserting and one dollar amount in effect under section #ei;,b7a77#b7 for the taxable year for purposes of computing the tax imposed by section #ei;,b after under section #ece7;c77#b7 and 7#c74 7,f7 ,section #fdbe7;c77#a77;,a7 of such ,code is amended by striking plus at end of clause 7i71 by striking over at the end of clause 7ii7 and inserting plus1 and by inserting after clause 7ii7 the following3 7iii7 the tax imposed by section #ei;,b1 over 4 7,g7 ,section #ffee of such ,code is amended-- 7i7 in subsections 7e77#b77;,a77i7 and 7e77#b77;,b77i71 by striking taxable income and modified taxable income and inserting taxable income1 modified taxable income1 and modified environmental tax taxable income2 7ii7 in subsection 7e77#b77;,b71 by inserting after clause 7ii7 the following3 7iii7 ,modified environmental tax taxable income ,the term modified environmental tax taxable income has the meaning given to such term by section #ei;,b7b74 2 and 7iii7 in subsection 7g77#a77;,a71 by striking plus at the end of clause 7ii71 by redesignating clause 7iii7 as clause 7iv7 and by inserting after clause 7ii7 the following3 7iii7 the tax imposed by section #ei;,b1 plus 4 7,h7 ,section #iejg7;b77#a7 of such ,code is amended by inserting #ei;,b1 before #dfaa4 7#c7 ,clerical amendment ,the table of parts for subchapter ,a of chapter #a of such ,code is amended by inserting after the item relating to part ,,vii the following new item3 ,part ,,viii4 ,environmental tax 4 7d7 ,clarification of tar sands as crude oil for excise tax purposes 7#a7 ,in general ,section #dfab7;a77#a7 of such ,code 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 7#b7 ,technical amendment ,section #dfab7;a77#b7 of such ,code is amended by striking from a well located4 7e7 ,technical amendments 7#a7 ,subsection 7b7 of section #dfaa of such ,code is amended-- 7,a7 by striking or exported from in paragraph 7#a77;,a72 7,b7 by striking or exportation in paragraph 7#a77;,b72 and 7,c7 by striking and exportation in the heading thereof4 7#b7 ,paragraph 7#c7 of section #dfaa7;d7 of such ,code is amended-- 7,a7 by striking or exporting the crude oil1 as the case may be and inserting the crude oil2 and 7,b7 by striking or exports in the heading thereof4 7f7 ,effective date 7#a7 ,in general ,except as provided in paragraph 7#b71 the amendments made by this section shall apply to oil and petroleum products received or entered during calendar quarters beginning after ,december #ca1 #bjai4 7#b7 ,corporate environmental income tax ,the amendment made by section #d7;c7 shall apply to taxable years beginning after ,december #ca1 #bjai4 #e4 ,applicability ,except as provided in section #d7;f71 this ,act 7including the amendments made by this ,act7 shall apply to fiscal years beginning after ,september #cj1 #bjai4