,i #aaf? ,,congress #a/ ,session ,h4 ,r4 #djhh ,,9 ,,! ,,h\se ,,( ,,repres5tatives ,july #bf1 #bjai,mr4 ,blum5au] 7= himself1 ,mr4 ,connolly1 ,mr4 ,mc,nerney1 ,ms4 ,sewell ( ,alabama1 ,ms4 ,norton1 ,mr4 ,grijalva1 & ,mr4 ,c>twright7 introduc$ ! foll[+ bill2 :i* 0 ref]r$ to ! ,committee on ,ways & ,means1 & 9 addition to ! ,committees on ,transportation & ,infra/ructure1 ,en]gy & ,comm]ce1 & ! ,budget1 = a p]iod to be subsequ5tly det]m9$ by ! ,speak]1 9 ea* case = consid]ation ( su* provisions z fall )9 ! jurisdiction ( ! committee conc]n$ ,a ,,bill ,to am5d ! ,int]nal ,rev5ue ,code ( #aihf to provide = ! use ( funds 9 ! ,haz>d\s ,sub/ance ,sup]fund = ! purposes = :i* !y 7 collect$1 to ensure adequate res\rces = ! cleanup ( haz>d\s sub/ances "u ! ,compreh5sive ,environm5tal ,response1 ,comp5sation1 & ,liability ,act ( #aihj1 & = o!r purposes4 #a4 ,%ort title ,?is ,act may be cit$ z ! ,sup]fund ,re9ve/m5t ,act4 #b4 ,use ( ,haz>d\s ,sub/ance ,sup]fund = cleanup 7a7 ,availability ( am\nts ,section #aaa ( ! ,compreh5sive ,environm5tal ,response1 ,comp5sation1 & ,liability ,act ( #aihj 7#db ,u4,s4,c4 #ifaa7 is am5d$-- 7#a7 9 subsection 7a7 by /rik+ ,= ! purposes specifi$ & all t foll[s ?r\gh = ! foll[+ purposes3 & ins]t+ ! foll[+3 ,! am\nt 9 ! ,haz>d\s ,sub/ance ,sup]fund e/abli%$ "u section #iejg ( ! ,int]nal ,rev5ue ,code ( #aihf %all be available1 )\t fur!r appropriation1 to be us$ = ! purposes specifi$ 9 ?is section4 ,! ,presid5t %all use su* am\nt = ! foll[+ purposes32 & 7#b7 9 subsection 7c7-- 7,a7 by /rik+ ,subject to su* am\nts z are provid$ 9 appropriations ,acts1 ! ea* place x appe>s & ins]t+ ,!2 & 7,b7 9 p>agraph 7#ab7 by /rik+ to ! ext5t t su* co/s & all t foll[s ?r\gh & #aiid4 7b7 ,am5dm5t to ! ,int]nal ,rev5ue ,code ,section #iejg ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$-- 7#a7 by /rik+ appropriat$ to 9 subsection 7a77#a7 & ins]t+ made available =2 7#b7 by /rik+ appropriat$ 9 subsection 7b7 & ins]t+ transf]r$2 7#c7 by /rik+ 1 z provid$ 9 appropriations ,acts1 9 subsection 7c77#a72 & 7#d7 by /rik+ ,decemb] #ca1 #aiie 9 subsection 7d77#c77;,b7 & ins]t+ ,decemb] #ca1 #bjbh4 #c4 ,budget>y treatm5t ( ,haz>d\s ,sub/ance ,sup]fund ,not)/&+ any o!r provision ( law1 ! receipts & disbursem5ts ( ! ,haz>d\s ,sub/ance ,sup]fund e/abli%$ 9 section #iejg ( ! ,int]nal ,rev5ue ,code ( #aihf-- 7#a7 %all n be c\nt$ z new budget au?ority1 outlays1 receipts1 or deficit or surplus = purposes (-- 7,a7 ! budget ( ! ,unit$ ,/ates ,gov]nm5t z submitt$ by ! ,presid5t2 7,b7 ! congressional budget 7includ+ allocations ( budget au?ority & outlays provid$ !re972 7,c7 ! ,balanc$ ,budget & ,em]g5cy ,deficit ,control ,act ( #aihe2 or 7,d7 ! ,/atutory ,pay-,z-,y-,g ,act ( #bjaj2 7#b7 %all be exempt f any g5]al budget limitation impos$ by /atute on exp5ditures & net l5d+ 7budget outlays7 ( ! ,unit$ ,/ates ,gov]nm5t2 & 7#c7 %all be available only = ! purposes specifi$ 9 section #aaa ( ! ,compreh5sive ,environm5tal ,response1 ,comp5sation1 & ,liability ,act ( #aihj 7#db ,u4,s4,c4 #ifaa74 #d4 ,modification ( ,sup]fund taxes 7a7 ,haz>d\s ,sub/ance ,sup]fund f9anc+ rate 7#a7 ,ext5sion ,subsection 7e7 ( section #dfaa ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ to read z foll[s3 7e7 ,application ( ,haz>d\s ,sub/ance ,sup]fund f9anc+ rate ,! ,haz>d\s ,sub/ance ,sup]fund f9anc+ rate "u ?is section %all apply aft] ,decemb] #ca1 #aihf1 & be=e ,janu>y #a1 #aiif1 & aft] ! date ( ! enactm5t ( ! ,sup]fund ,re9ve/m5t ,act & be=e ,janu>y #a1 #bjbi4 4 7#b7 ,adju/m5t = inflation 7,a7 ,section #dfaa7;c77#b77;,a7 ( su* ,code is am5d$ by /rik+ #i4g c5ts & ins]t+ #af4c c5ts4 7,b7 ,section #dfaa7;c7 ( su* ,code is am5d$ by add+ at ! end ! foll[+3 7#c7 ,adju/m5t = inflation 7,a7 ,9 g5]al ,9 ! case ( a ye> beg9n+ aft] #bjbj1 ! am\nt 9 p>agraph 7#b77;,a7 %all be increas$ by an am\nt equal to-- 7i7 su* am\nt1 multipli$ by 7ii7 ! co/-(-liv+ adju/m5t det]m9$ "u section #a7;f77#c7 = ! cal5d> ye>1 det]m9$ by sub/itut+ cal5d> ye> #bjai = cal5d> ye> #bjaf 9 subp>agraph 7,a77ii7 !re(4 7,b7 ,r\nd+ ,if any am\nt z adju/$ "u subp>agraph 7,a7 is n a multiple ( #j4ja1 su* am\nt %all be r\nd$ to ! next l[e/ multiple ( #j4ja4 4 7b7 ,adju/m5t ( excise tax on c]ta9 *emicals = inflation ,section #dffa7;b7 ( su* ,code is am5d$ to read z foll[s3 7b7 ,am\nt ( tax 7#a7 ,9 g5]al ,! am\nt ( ! tax impos$ by subsection 7a7 %all be det]m9$ 9 accordance ) ! foll[+ table3 ,9 ! case (3,! tax is ! foll[+ am\nt p] ton3 ,acetyl5e#aa4ce ,b5z5e#aa4ce ,butane#aa4ce ,butyl5e#aa4ce ,butadi5e#aa4ce ,e?yl5e#aa4ce ,me?ane#h4jb ,naph?al5e#aa4ce ,propyl5e#aa4ce ,tolu5e#aa4ce ,xyl5e#aa4ce ,ammonia#f4ae ,antimony#aj4cg ,antimony trioxide#h4gd ,ars5ic#aj4cg ,ars5ic trioxide#g4ie ,b>ium sulfide#e4cf ,brom9e#aj4cg ,cadmium#aj4cg ,*lor9e#f4bi ,*romium#aj4cg ,*romite#c4ed ,potassium di*romate#c4id ,sodium di*romate#d4cf ,cobalt#aj4cg ,cupric sulfate#d4cf ,cupric oxide#h4cg ,cupr\s oxide#i4be ,hydro*loric acid#j4fh ,hydrog5 fluoride#i4hf ,lead oxide#i4fe ,m]cury#aj4cg ,nickel#aj4cg ,phosphorus#aj4cg ,/ann\s *loride#f4fd ,/annic *loride#d4id ,z9c *loride#e4ag ,z9c sulfate#d4dc ,potassium hydroxide#j4ea ,sodium hydroxide#j4fe ,sulfuric acid#j4fa ,nitric acid#j4ef4 7#b7 ,adju/m5t = inflation 7,a7 ,9 g5]al ,9 ! case ( a cal5d> ye> beg9n+ aft] #bjbj1 ea* ( ! am\nts 9 ! table 9 p>agraph 7#a7 %all be increas$ by an am\nt equal to-- 7i7 su* am\nt1 multipli$ by 7ii7 ! co/-(-liv+ adju/m5t det]m9$ "u section #a7;f77#c7 = ! cal5d> ye>1 det]m9$ by sub/itut+ cal5d> ye> #bjai = cal5d> ye> #bjaf 9 subp>agraph 7,a77ii7 !re(4 7,b7 ,r\nd+ ,if any am\nt z adju/$ "u subp>agraph 7,a7 is n a multiple ( #j4ja1 su* am\nt %all be r\nd$ to ! next l[e/ multiple ( #j4ja4 4 7c7 ,corporate environm5tal income tax re9/at$ 7#a7 ,9 g5]al ,sub*apt] ,a ( *apt] #a ( su* ,code is am5d$ by ins]t+ aft] "p ,,vii ! foll[+3 ,,viii ,environm5tal ,tax ,sec4 #ei;,b4 ,environm5tal tax4 #ei;,b4 ,environm5tal tax 7a7 ,imposition ( tax ,9 ! case ( a corporation1 !re is h]eby impos$ 79 addition to any o!r tax impos$ by ?is subtitle7 a tax equal to #j4ab p]c5t ( ! excess (-- 7#a7 ! modifi$ environm5tal tax taxable income ( su* corporation = ! taxable ye>1 ov] 7#b7 #c1gce1jjj4 7b7 ,modifi$ environm5tal tax taxable income ,= purposes ( ?is section1 ! t]m modifi$ environm5tal tax taxable income means taxable income det]m9$ )\t reg>d to-- 7#a7 ! net op]at+ loss d$uction all[able "u section #agb1 & 7#b7 ! d$uction all[$ "u section #afd7;a77#e74 7c7 ,exception = ,r,i,cs & ,r,e,i,ts ,! tax impos$ by subsection 7a7 %all n apply to-- 7#a7 a regulat$ inve/m5t company to :i* "p ,i ( sub*apt] ,m applies1 & 7#b7 a real e/ate inve/m5t tru/ to :i* "p ,,ii ( sub*apt] ,m applies4 7d7 ,special rules 7#a7 ,%ort taxable ye>s ,! application ( ?is section to taxable ye>s ( less ?an #ab mon?s %all be 9 accordance ) regulations prescrib$ by ! ,secret>y4 7#b7 ,section #ae n to apply ,section #ae %all n apply to ! tax impos$ by ?is section4 7e7 ,adju/m5t = inflation 7#a7 ,9 g5]al ,9 ! case ( a taxable ye> beg9n+ aft] #bjbj1 ! doll> am\nt 9 subsection 7a77#b7 %all be increas$ by an am\nt equal to-- 7,a7 su* am\nt1 multipli$ by 7,b7 ! co/-(-liv+ adju/m5t det]m9$ "u section #a7;f77#c7 = ! cal5d> ye> 9 :i* ! taxable ye> beg9s1 det]m9$ by sub/itut+ cal5d> ye> #bjai = cal5d> ye> #bjaf 9 subp>agraph 7,a77ii7 !re(4 7#b7 ,r\nd+ ,if any am\nt z adju/$ "u subp>agraph 7,a7 is n a multiple ( #a1jjj1 su* am\nt %all be r\nd$ to ! next l[e/ multiple ( #a1jjj4 7f7 ,application ( tax ,! tax impos$ by ?is section %all apply to taxable ye>s end+ aft] ! date ( ! enactm5t ( ! ,sup]fund ,re9ve/m5t ,act & beg9n+ be=e ,janu>y #a1 #bjbi4 4 7#b7 ,con=m+ am5dm5ts 7,a7 ,p>agraph 7#b7 ( section #bf7;b7 ( su* ,code is am5d$ by /rik+ & at ! end ( subp>agraph 7,x71 by /rik+ ! p]iod at ! end ( subp>agraph 7,y7 & ins]t+ 1 &1 & by add+ at ! end ! foll[+ new subp>agraph3 7,z7 section #ei;,b 7relat+ to environm5tal tax74 4 7,b7 ,subsection 7a7 ( section #afd ( su* ,code is am5d$ by ins]t+ aft] p>agraph 7#d7 ! foll[+3 7#e7 ,! environm5tal tax impos$ by section #ei;,b4 4 7,c7 ,section #bge7;a7 ( su* ,code is am5d$ by ins]t+ at ! end ! foll[+ flu% s5t5ce3 ,p>agraph 7#a7 %all n apply to ! tax impos$ by section #ei;,b44 7,d7 ,section #hhb7;a77#a7 ( su* ,code is am5d$ by /rik+ or #ei;,a & ins]t+ 1 #ei;,a1 or #ei;,b4 7,e7 ,section #aefa7;a7 ( su* ,code is am5d$ by ins]t+ & "o doll> am\nt 9 effect "u section #ei;,b7a77#b7 = ! taxable ye> = purposes ( comput+ ! tax impos$ by section #ei;,b aft] "u section #ece7;c77#b7 & 7#c74 7,f7 ,section #fdbe7;c77#a77;,a7 ( su* ,code is am5d$ by /rik+ plus at end ( clause 7i71 by /rik+ ov] at ! end ( clause 7ii7 & ins]t+ plus1 & by ins]t+ aft] clause 7ii7 ! foll[+3 7iii7 ! tax impos$ by section #ei;,b1 ov] 4 7,g7 ,section #ffee ( su* ,code is am5d$-- 7i7 9 subsections 7e77#b77;,a77i7 & 7e77#b77;,b77i71 by /rik+ taxable income & modifi$ taxable income & ins]t+ taxable income1 modifi$ taxable income1 & modifi$ environm5tal tax taxable income2 7ii7 9 subsection 7e77#b77;,b71 by ins]t+ aft] clause 7ii7 ! foll[+3 7iii7 ,modifi$ environm5tal tax taxable income ,! t]m modifi$ environm5tal tax taxable income has ! mean+ giv5 to su* t]m by section #ei;,b7b74 2 & 7iii7 9 subsection 7g77#a77;,a71 by /rik+ plus at ! end ( clause 7ii71 by r$esignat+ clause 7iii7 z clause 7iv7 & by ins]t+ aft] clause 7ii7 ! foll[+3 7iii7 ! tax impos$ by section #ei;,b1 plus 4 7,h7 ,section #iejg7;b77#a7 ( su* ,code is am5d$ by ins]t+ #ei;,b1 be=e #dfaa4 7#c7 ,cl]ical am5dm5t ,! table ( p>ts = sub*apt] ,a ( *apt] #a ( su* ,code is am5d$ by ins]t+ aft] ! item relat+ to "p ,,vii ! foll[+ new item3 ,"p ,,viii4 ,environm5tal tax 4 7d7 ,cl>ification ( t> s&s z crude oil = excise tax purposes 7#a7 ,9 g5]al ,section #dfab7;a77#a7 ( su* ,code is am5d$ to read z foll[s3 7#a7 ,crude oil ,! t]m crude oil includes crude oil cond5sates1 natural gasol9e1 any bitum5 or bitum9\s mixture1 any oil d]iv$ f a bitum5 or bitum9\s mixture 7includ+ oil d]iv$ f t> s&s71 & any oil d]iv$ f k]og5-be>+ s\rces 7includ+ oil d]iv$ f oil %ale74 4 7#b7 ,te*nical am5dm5t ,section #dfab7;a77#b7 ( su* ,code is am5d$ by /rik+ f a well locat$4 7e7 ,te*nical am5dm5ts 7#a7 ,subsection 7b7 ( section #dfaa ( su* ,code is am5d$-- 7,a7 by /rik+ or export$ f 9 p>agraph 7#a77;,a72 7,b7 by /rik+ or exportation 9 p>agraph 7#a77;,b72 & 7,c7 by /rik+ & exportation 9 ! head+ !re(4 7#b7 ,p>agraph 7#c7 ( section #dfaa7;d7 ( su* ,code is am5d$-- 7,a7 by /rik+ or export+ ! crude oil1 z ! case may be & ins]t+ ! crude oil2 & 7,b7 by /rik+ or exports 9 ! head+ !re(4 7f7 ,effective date 7#a7 ,9 g5]al ,except z provid$ 9 p>agraph 7#b71 ! am5dm5ts made by ?is section %all apply to oil & petroleum products receiv$ or ent]$ dur+ cal5d> qu>t]s beg9n+ aft] ,decemb] #ca1 #bjai4 7#b7 ,corporate environm5tal income tax ,! am5dm5t made by section #d7;c7 %all apply to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjai4 #e4 ,applicability ,except z provid$ 9 section #d7;f71 ?is ,act 7includ+ ! am5dm5ts made by ?is ,act7 %all apply to fiscal ye>s beg9n+ aft] ,septemb] #cj1 #bjai4