,i #aaf? ,,congress #a/ ,session ,h4 ,r4 #eaja ,,9 ,,! ,,h\se ,,( ,,repres5tatives ,novemb] #ad1 #bjai,mr4 ,pallone 7= himself & ,mr4 ,pascrell7 introduc$ ! foll[+ bill2 :i* 0 ref]r$ to ! ,committee on ,ways & ,means ,a ,,bill ,to am5d ! ,int]nal ,rev5ue ,code ( #aihf to ext5d ! f9anc+ ( ! ,sup]fund4 #a4 ,%ort title ,?is ,act may be cit$ z ! ,sup]fund ,pollut] ,pays ,act4 #b4 ,ext5sion ( ,sup]fund taxes 7a7 ,excise taxes 7#a7 ,9 g5]al ,section #dfaa7;e7 ( ! ,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 ( ?is subsection & be=e ,janu>y #a1 #bjbd4 4 7#b7 ,rate ( tax adju/$ = inflation 7,a7 ,9 g5]al ,section #dfaa7;c77#b77;,a7 ( su* ,code is am5d$ by /rik+ #i4g c5ts & ins]t+ #af4c c5ts4 7,b7 ,cont9u$ adju/m5t = inflation ,section #dfaa7;c7 ( su* ,code is am5d$ by add+ at ! end ! foll[+ new p>agraph3 7#c7 ,inflation adju/m5t 7,a7 ,9 g5]al ,9 ! case ( a cal5d> ye> beg9n+ aft] #bjai1 ! #af4c c5ts am\nt 9 p>agraph 7#b77;,a7 %all be increas$ by an am\nt equal to-- 7i7 su* doll> am\nt1 multipli$ by 7ii7 ! co/-(-liv+ adju/m5t det]m9$ "u section #a7;f77#c7 = su* cal5d> ye>1 det]m9$ by sub/itut+ cal5d> ye> #bjah = 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 ( #j4a c5ts1 su* am\nt %all be r\nd$ to ! ne>e/ multiple ( #j4a c5ts4 4 7#c7 ,te*nical am5dm5ts 7,a7 ,section #dfaa7;b7 ( su* ,code is am5d$-- 7i7 by /rik+ or export$ f 9 p>agraph 7#a77;,a71 7ii7 by /rik+ or exportation 9 p>agraph 7#a77;,b71 & 7iii7 by /rik+ & exportation 9 ! head+4 7,b7 ,section #dfaa7;d77#c7 ( su* ,code is am5d$-- 7i7 by /rik+ or export+ ! crude oil1 z ! case may be 9 ! text & ins]t+ ! crude oil1 & 7ii7 by /rik+ or exports 9 ! head+4 7b7 ,corporate environm5tal income tax 7#a7 ,sub*apt] ,a ( *apt] #a ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by add+ at ! end ! foll[+ new "p3 ,,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 #c1acj1jjj4 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 ,inflation adju/m5t 7#a7 ,9 g5]al ,9 ! case ( a taxable ye> beg9n+ aft] #bjai1 ! #c1acj1jjj am\nt 9 subsection 7a77#b7 %all be increas$ by an am\nt equal to-- 7,a7 su* doll> 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> #bjah = cal5d> ye> #bjaf 9 subp>agraph 7,a77ii7 !re(4 7#b7 ,r\nd+ ,if any am\nt z adju/$ "u p>agraph 7#a7 is n a multiple ( #aj1jjj1 su* am\nt %all be r\nd$ to ! ne>e/ multiple ( #aj1jjj4 7f7 ,application ( tax ,! tax impos$ by ?is section %all apply to taxable ye>s beg9n+ aft] ! date ( ! enactm5t ( ?is subsection & be=e ,janu>y #a1 #bjbe4 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 ,section #afd7;a7 ( su* ,code is am5d$ by add+ at ! end ! foll[+3 7#e7 ,! environm5tal tax impos$ by section #ei;,b4 4 7,c7 ,section #bge7;a7 ( su* ,code is am5d$ by add+ at ! end ! foll[+3 ,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 = 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] & ins]t+ plus at ! end ( clause 7ii71 & 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 income1 7ii7 9 subsection 7e77#b77;,b71 by add+ at ! end ! foll[+ new clause3 7iii7 ,modifi$ environm5tal tax taxable income ,! t]m modifi$ environm5tal tax taxable income has ! mean+ giv5 to su* t]m 9 section #ei;,b7b74 1 & 7iii7 9 subsection 7g77#a77;,a71 by /rik+ plus at ! end ( clause 7ii71 by r$esignat+ clause 7iii7 z clause 7iv71 & by ins]t+ aft] clause 7ii7 ! foll[+3 7iii7 ! tax impos$ 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,i7 ,! 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 7c7 ,effective dates 7#a7 ,excise taxes ,! am5dm5ts made by subsection 7a7 %all take effect on ! date ( ! enactm5t ( ?is ,act4 7#b7 ,income tax ,! am5dm5ts made by subsection 7b7 %all apply to taxable ye>s beg9n+ aft] ! date ( ! enactm5t ( ?is ,act4