Superfund Reinvestment Act

I 116TH CONGRESS 1ST SESSION H. R. 4088 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 JULY 26, 2019 Mr. BLUMENAUER (for himself, Mr. CONNOLLY, Mr. MCNERNEY, Ms. SE- WELL of Alabama, Ms. NORTON, Mr. GRIJALVA, and Mr. CARTWRIGHT) 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 consider- ation 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 Super- fund for the purposes for which they were collected, to ensure adequate resources for the cleanup of haz- ardous substances under the Comprehensive Environ- mental Response, Compensation, and Liability Act of 1980, and for other purposes. Be it enacted by the Senate and House of Representa- 1 tives of the United States of America in Congress assembled, 2 VerDate Sep 11 2014 00:12 Aug 15, 2019 Jkt 089200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\H4088.IH H4088 pamtmann on DSKBFK8HB2PROD with BILLS 2 •HR 4088 IH SECTION 1. SHORT TITLE. 1 This Act may be cited as the ‘‘Superfund Reinvest- 2 ment Act’’. 3 SEC. 2. USE OF HAZARDOUS SUBSTANCE SUPERFUND FOR 4 CLEANUP. 5 (a) AVAILABILITY OF AMOUNTS.—Section 111 of the 6 Comprehensive Environmental Response, Compensation, 7 and Liability Act of 1980 (42 U.S.C. 9611) is amended— 8 (1) in subsection (a) by striking ‘‘For the pur- 9 poses specified’’ and all that follows through ‘‘for 10 the following purposes:’’ and inserting the following: 11 ‘‘The amount in the Hazardous Substance Super- 12 fund established under section 9507 of the Internal 13 Revenue Code of 1986 shall be available, without 14 further appropriation, to be used for the purposes 15 specified in this section. The President shall use 16 such amount for the following purposes:’’; and 17 (2) in subsection (c)— 18 (A) by striking ‘‘Subject to such amounts 19 as are provided in appropriations Acts, the’’ 20 each place it appears and inserting ‘‘The’’; and 21 (B) in paragraph (12) by striking ‘‘to the 22 extent that such costs’’ and all that follows 23 through ‘‘and 1994’’. 24 VerDate Sep 11 2014 00:12 Aug 15, 2019 Jkt 089200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6201 E:\BILLS\H4088.IH H4088 pamtmann on DSKBFK8HB2PROD with BILLS 3 •HR 4088 IH (b) AMENDMENT TO THE INTERNAL REVENUE 1 CODE.—Section 9507 of the Internal Revenue Code of 2 1986 is amended— 3 (1) by striking ‘‘appropriated to’’ in subsection 4 (a)(1) and inserting ‘‘made available for’’; 5 (2) by striking ‘‘appropriated’’ in subsection (b) 6 and inserting ‘‘transferred’’; 7 (3) by striking ‘‘, as provided in appropriations 8 Acts,’’ in subsection (c)(1); and 9 (4) by striking ‘‘December 31, 1995’’ in sub- 10 section (d)(3)(B) and inserting ‘‘December 31, 11 2028’’. 12 SEC. 3. BUDGETARY TREATMENT OF HAZARDOUS SUB- 13 STANCE SUPERFUND. 14 Notwithstanding any other provision of law, the re- 15 ceipts and disbursements of the Hazardous Substance 16 Superfund established in section 9507 of the Internal Rev- 17 enue Code of 1986— 18 (1) shall not be counted as new budget author- 19 ity, outlays, receipts, or deficit or surplus for pur- 20 poses of— 21 (A) the budget of the United States Gov- 22 ernment as submitted by the President; 23 VerDate Sep 11 2014 00:12 Aug 15, 2019 Jkt 089200 PO 00000 Frm 00003 Fmt 6652 Sfmt 6201 E:\BILLS\H4088.IH H4088 pamtmann on DSKBFK8HB2PROD with BILLS 4 •HR 4088 IH (B) the congressional budget (including al- 1 locations of budget authority and outlays pro- 2 vided therein); 3 (C) the Balanced Budget and Emergency 4 Deficit Control Act of 1985; or 5 (D) the Statutory Pay-As-You-Go Act of 6 2010; 7 (2) shall be exempt from any general budget 8 limitation imposed by statute on expenditures and 9 net lending (budget outlays) of the United States 10 Government; and 11 (3) shall be available only for the purposes 12 specified in section 111 of the Comprehensive Envi- 13 ronmental Response, Compensation, and Liability 14 Act of 1980 (42 U.S.C. 9611). 15 SEC. 4. MODIFICATION OF SUPERFUND TAXES. 16 (a) HAZARDOUS SUBSTANCE SUPERFUND FINANC- 17 ING RATE.— 18 (1) EXTENSION.—Subsection (e) of section 19 4611 of the Internal Revenue Code of 1986 is 20 amended to read as follows: 21 ‘‘(e) APPLICATION OF HAZARDOUS SUBSTANCE 22 SUPERFUND FINANCING RATE.—The Hazardous Sub- 23 stance Superfund financing rate under this section shall 24 apply after December 31, 1986, and before January 1, 25 VerDate Sep 11 2014 00:12 Aug 15, 2019 Jkt 089200 PO 00000 Frm 00004 Fmt 6652 Sfmt 6201 E:\BILLS\H4088.IH H4088 pamtmann on DSKBFK8HB2PROD with BILLS 5 •HR 4088 IH 1996, and after the date of the enactment of the Super- 1 fund Reinvestment Act and before January 1, 2029.’’. 2 (2) ADJUSTMENT FOR INFLATION.— 3 (A) Section 4611(c)(2)(A) of such Code is 4 amended by striking ‘‘9.7 cents’’ and inserting 5 ‘‘16.3 cents’’. 6 (B) Section 4611(c) of such Code is 7 amended by adding at the end the following: 8 ‘‘(3) ADJUSTMENT FOR INFLATION.— 9 ‘‘(A) IN GENERAL.—In the case of a year 10 beginning after 2020, the amount in paragraph 11 (2)(A) shall be increased by an amount equal 12 to— 13 ‘‘(i) such amount, multiplied by 14 ‘‘(ii) the cost-of-living adjustment de- 15 termined under section 1(f)(3) for the cal- 16 endar year, determined by substituting 17 ‘calendar year 2019’ for ‘calendar year 18 2016’ in subparagraph (A)(ii) thereof. 19 ‘‘(B) ROUNDING.—If any amount as ad- 20 justed under subparagraph (A) is not a multiple 21 of $0.01, such amount shall be rounded to the 22 next lowest multiple of $0.01.’’. 23 VerDate Sep 11 2014 00:12 Aug 15, 2019 Jkt 089200 PO 00000 Frm 00005 Fmt 6652 Sfmt 6201 E:\BILLS\H4088.IH H4088 pamtmann on DSKBFK8HB2PROD with BILLS 6 •HR 4088 IH (b) ADJUSTMENT OF EXCISE TAX ON CERTAIN 1 CHEMICALS FOR INFLATION.—Section 4661(b) of such 2 Code is amended to read as follows: 3 ‘‘(b) AMOUNT OF TAX.— 4 ‘‘(1) IN GENERAL.—The amount of the tax im- 5 posed by subsection (a) shall be determined in ac- 6 cordance with the following table: 7 ‘‘In the case of: The tax is the following amount per ton: Acetylene $11.35 Benzene 11.35 Butane 11.35 Butylene 11.35 Butadiene 11.35 Ethylene 11.35 Methane 8.02 Naphthalene 11.35 Propylene 11.35 Toluene 11.35 Xylene 11.35 Ammonia 6.15 Antimony 10.37 Antimony trioxide 8.74 Arsenic 10.37 Arsenic trioxide 7.95 Barium sulfide 5.36 Bromine 10.37 Cadmium 10.37 Chlorine 6.29 Chromium 10.37 Chromite 3.54 Potassium dichromate 3.94 Sodium dichromate 4.36 Cobalt 10.37 Cupric sulfate 4.36 Cupric oxide 8.37 Cuprous oxide 9.25 Hydrochloric acid 0.68 Hydrogen fluoride 9.86 Lead oxide 9.65 Mercury 10.37 Nickel 10.37 Phosphorus 10.37 Stannous chloride 6.64 Stannic chloride 4.94 Zinc chloride 5.17 VerDate Sep 11 2014 00:12 Aug 15, 2019 Jkt 089200 PO 00000 Frm 00006 Fmt 6652 Sfmt 6201 E:\BILLS\H4088.IH H4088 pamtmann on DSKBFK8HB2PROD with BILLS 7 •HR 4088 IH ‘‘In the case of: The tax is the following amount per ton: Zinc sulfate 4.43 Potassium hydroxide 0.51 Sodium hydroxide 0.65 Sulfuric acid 0.61 Nitric acid 0.56. ‘‘(2) ADJUSTMENT FOR INFLATION.— 1 ‘‘(A) IN GENERAL.—In the case of a cal- 2 endar year beginning after 2020, each of the 3 amounts in the table in paragraph (1) shall be 4 increased by an amount equal to— 5 ‘‘(i) such amount, multiplied by 6 ‘‘(ii) the cost-of-living adjustment de- 7 termined under section 1(f)(3) for the cal- 8 endar year, determined by substituting 9 ‘calendar year 2019’ for ‘calendar year 10 2016’ in subparagraph (A)(ii) thereof. 11 ‘‘(B) ROUNDING.—If any amount as ad- 12 justed under subparagraph (A) is not a multiple 13 of $0.01, such amount shall be rounded to the 14 next lowest multiple of $0.01.’’. 15 (c) CORPORATE ENVIRONMENTAL INCOME TAX RE- 16 INSTATED.— 17 (1) IN GENERAL.—Subchapter A of chapter 1 18 of such Code is amended by inserting after part VII 19 the following: 20 VerDate Sep 11 2014 00:12 Aug 15, 2019 Jkt 089200 PO 00000 Frm 00007 Fmt 6652 Sfmt 6201 E:\BILLS\H4088.IH H4088 pamtmann on DSKBFK8HB2PROD with BILLS 8 •HR 4088 IH ‘‘PART VIII—ENVIRONMENTAL TAX 1 ‘‘Sec. 59B. Environmental tax. ‘‘SEC. 59B. ENVIRONMENTAL TAX. 2 ‘‘(a) IMPOSITION OF TAX.—In the case of a corpora- 3 tion, there is hereby imposed (in addition to any other tax 4 imposed by this subtitle) a tax equal to 0.12 percent of 5 the excess of— 6 ‘‘(1) the modified environmental tax taxable in- 7 come of such corporation for the taxable year, over 8 ‘‘(2) $3,735,000. 9 ‘‘(b) MODIFIED ENVIRONMENTAL TAX TAXABLE IN- 10 COME.—For purposes of this section, the term ‘modified 11 environmental tax taxable income’ means taxable income 12 determined without regard to— 13 ‘‘(1) the net operating loss deduction allowable 14 under section 172, and 15 ‘‘(2) the deduction allowed under section 16 164(a)(5). 17 ‘‘(c) EXCEPTION FOR RICS AND REITS.—The tax 18 imposed by subsection (a) shall not apply to— 19 ‘‘(1) a regulated investment company to which 20 part I of subchapter M applies, and 21 ‘‘(2) a real estate investment trust to which 22 part II of subchapter M applies. 23 ‘‘(d) SPECIAL RULES.— 24 VerDate Sep 11 2014 00:12 Aug 15, 2019 Jkt 089200 PO 00000 Frm 00008 Fmt 6652 Sfmt 6201 E:\BILLS\H4088.IH H4088 pamtmann on DSKBFK8HB2PROD with BILLS 9 •HR 4088 IH ‘‘(1) SHORT TAXABLE YEARS.—The application 1 of this section to taxable years of less than 12 2 months shall be in accordance with regulations pre- 3 scribed by the Secretary. 4 ‘‘(2) SECTION 15 NOT TO APPLY.—Section 15 5 shall not apply to the tax imposed by this section. 6 ‘‘(e) ADJUSTMENT FOR INFLATION.— 7 ‘‘(1) IN GENERAL.—In the case of a taxable 8 year beginning after 2020, the dollar amount in sub- 9 section (a)(2) shall be increased by an amount equal 10 to— 11 ‘‘(A) such amount, multiplied by 12 ‘‘(B) the cost-of-living adjustment deter- 13 mined under section 1(f)(3) for the calendar 14 year in which the taxable year begins, deter- 15 mined by substituting ‘calendar year 2019’ for 16 ‘calendar year 2016’ in subparagraph (A)(ii) 17 thereof. 18 ‘‘(2) ROUNDING.—If any amount as adjusted 19 under subparagraph (A) is not a multiple of $1,000, 20 such amount shall be rounded to the next lowest 21 multiple of $1,000. 22 ‘‘(f) APPLICATION OF TAX.—The tax imposed by this 23 section shall apply to taxable years ending after the date 24 VerDate Sep 11 2014 00:12 Aug 15, 2019 Jkt 089200 PO 00000 Frm 00009 Fmt 6652 Sfmt 6201 E:\BILLS\H4088.IH H4088 pamtmann on DSKBFK8HB2PROD with BILLS 10 •HR 4088 IH of the enactment of the Superfund Reinvestment Act and 1 beginning before January 1, 2029.’’. 2 (2) CONFORMING AMENDMENTS.— 3 (A) Paragraph (2) of section 26(b) of such 4 Code is amended by striking ‘‘and’’ at the end 5 of subparagraph (X), by striking the period at 6 the end of subparagraph (Y) and inserting ‘‘, 7 and’’, and by adding at the end the following 8 new subparagraph: 9 ‘‘(Z) section 59B (relating to environ- 10 mental tax).’’. 11 (B) Subsection (a) of section 164 of such 12 Code is amended by inserting after paragraph 13 (4) the following: 14 ‘‘(5) The environmental tax imposed by section 15 59B.’’. 16 (C) Section 275(a) of such Code is amend- 17 ed by inserting at the end the following flush 18 sentence: ‘‘Paragraph (1) shall not apply to the 19 tax imposed by section 59B.’’. 20 (D) Section 882(a)(1) of such Code is 21 amended by striking ‘‘or 59A’’ and inserting ‘‘, 22 59A, or 59B’’. 23 (E) Section 1561(a) of such Code is 24 amended by inserting ‘‘and one dollar amount 25 VerDate Sep 11 2014 00:12 Aug 15, 2019 Jkt 089200 PO 00000 Frm 00010 Fmt 6652 Sfmt 6201 E:\BILLS\H4088.IH H4088 pamtmann on DSKBFK8HB2PROD with BILLS 11 •HR 4088 IH in effect under section 59B(a)(2) for the tax- 1 able year for purposes of computing the tax im- 2 posed by section 59B’’ after ‘‘under section 3 535(c)(2) and (3)’’. 4 (F) Section 6425(c)(1)(A) of such Code is 5 amended by striking ‘‘plus’’ at end of clause (i), 6 by striking ‘‘over’’ at the end of clause (ii) and 7 inserting ‘‘plus’’, and by inserting after clause 8 (ii) the following: 9 ‘‘(iii) the tax imposed by section 59B, 10 over’’. 11 (G) Section 6655 of such Code is amend- 12 ed— 13 (i) in subsections (e)(2)(A)(i) and 14 (e)(2)(B)(i), by striking ‘‘taxable income 15 and modified taxable income’’ and insert- 16 ing ‘‘taxable income, modified taxable in- 17 come, and modified environmental tax tax- 18 able income’’; 19 (ii) in subsection (e)(2)(B), by insert- 20 ing after clause (ii) the following: 21 ‘‘(iii) MODIFIED ENVIRONMENTAL 22 TAX TAXABLE INCOME.—The term ‘modi- 23 fied environmental tax taxable income’ has 24 VerDate Sep 11 2014 00:12 Aug 15, 2019 Jkt 089200 PO 00000 Frm 00011 Fmt 6652 Sfmt 6201 E:\BILLS\H4088.IH H4088 pamtmann on DSKBFK8HB2PROD with BILLS 12 •HR 4088 IH the meaning given to such term by section 1 59B(b).’’; and 2 (iii) in subsection (g)(1)(A), by strik- 3 ing ‘‘plus’’ at the end of clause (ii), by re- 4 designating clause (iii) as clause (iv) and 5 by inserting after clause (ii) the following: 6 ‘‘(iii) the tax imposed by section 59B, 7 plus’’. 8 (H) Section 9507(b)(1) of such Code is 9 amended by inserting ‘‘59B,’’ before ‘‘4611’’. 10 (3) CLERICAL AMENDMENT.—The table of 11 parts for subchapter A of chapter 1 of such Code is 12 amended by inserting after the item relating to part 13 VII the following new item: 14 ‘‘PART VIII. ENVIRONMENTAL TAX’’. (d) CLARIFICATION OF TAR SANDS AS CRUDE OIL 15 FOR EXCISE TAX PURPOSES.— 16 (1) IN GENERAL.—Section 4612(a)(1) of such 17 Code is amended to read as follows: 18 ‘‘(1) CRUDE OIL.—The term ‘crude oil’ includes 19 crude oil condensates, natural gasoline, any bitumen 20 or bituminous mixture, any oil derived from a bitu- 21 men or bituminous mixture (including oil derived 22 from tar sands), and any oil derived from kerogen- 23 bearing sources (including oil derived from oil 24 shale).’’. 25 VerDate Sep 11 2014 00:12 Aug 15, 2019 Jkt 089200 PO 00000 Frm 00012 Fmt 6652 Sfmt 6201 E:\BILLS\H4088.IH H4088 pamtmann on DSKBFK8HB2PROD with BILLS 13 •HR 4088 IH (2) TECHNICAL AMENDMENT.—Section 1 4612(a)(2) of such Code is amended by striking 2 ‘‘from a well located’’. 3 (e) TECHNICAL AMENDMENTS.— 4 (1) Subsection (b) of section 4611 of such Code 5 is amended— 6 (A) [Text truncated for display. Full text available on Congress.gov.]