H.R. 1531 - Superfund Reinvestment Act

115TH CONGRESS
1ST SESSION

H.R. 1531

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

MARCH 15, 2017

Mr. BLUMENAUER (for himself, Mr. BEYER, Mr. CARTWRIGHT, Ms. JUDY CHU of California, Mr. CONNOLLY, Mr. CONYERS, Mr. GRIJALVA, Mr. GUTIÉRREZ, Ms. NORTON, Mr. HUFFMAN, Mr. KEATING, Mr. MCNERNEY, Mr. PALLONE, Mr. PASCRELL, and Mr. POCAN) 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 consideration 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 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.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

This Act may be cited as the ‘‘Superfund Reinvestment Act’’.

SEC. 2. USE OF HAZARDOUS SUBSTANCE SUPERFUND FOR CLEANUP.

(a) AVAILABILITY OF AMOUNTS. — Section 111 of the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 (42 U.S.C. 9611) is amended —

(1) in subsection (a) by striking ‘‘For the purposes specified’’ and all that follows through ‘‘for the following purposes:’’ and inserting the following: ‘‘The amount in the Hazardous Substance Superfund established under section 9507 of the Internal Revenue Code of 1986 shall be available, without further appropriation, to be used for the purposes specified in this section. The President shall use such amount for the following purposes:’’; and

(2) in subsection (c) —

(A) by striking ‘‘Subject to such amounts as are provided in appropriations Acts, the’’ each place it appears and inserting ‘‘The’’; and

(B) in paragraph (12) by striking ‘‘to the extent that such costs’’ and all that follows through ‘‘and 1994’’.

(b) AMENDMENT TO THE INTERNAL REVENUE CODE. — Section 9507 of the Internal Revenue Code of 1986 is amended —

(1) by striking ‘‘appropriated to’’ in subsection (a)(1) and inserting ‘‘made available for’’;

(2) by striking ‘‘appropriated’’ in subsection (b) and inserting ‘‘transferred’’;

(3) by striking ‘‘, as provided in appropriations Acts,’’ in subsection (c)(1); and

(4) by striking ‘‘December 31, 1995’’ in subsection (d)(3)(B) and inserting ‘‘December 31, 2024’’.

SEC. 3. BUDGETARY TREATMENT OF HAZARDOUS SUBSTANCE SUPERFUND.

Notwithstanding any other provision of law, the receipts and disbursements of the Hazardous Substance Superfund established in section 9507 of the Internal Revenue Code of 1986 —

(1) shall not be counted as new budget authority, outlays, receipts, or deficit or surplus for purposes of —

(A) the budget of the United States Government as submitted by the President;

(B) the congressional budget (including allocations of budget authority and outlays provided therein);

(C) the Balanced Budget and Emergency Deficit Control Act of 1985; or

(D) the Statutory Pay-As-You-Go Act of 2010;

(2) shall be exempt from any general budget limitation imposed by statute on expenditures and net lending (budget outlays) of the United States Government; and

(3) shall be available only for the purposes specified in section 111 of the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 (42 U.S.C. 9611).

SEC. 4. MODIFICATION OF SUPERFUND TAXES.

(a) HAZARDOUS SUBSTANCE SUPERFUND FINANCING RATE. —

(1) EXTENSION. — Subsection (e) of section 4611 of the Internal Revenue Code of 1986 is amended to read as follows:

‘‘(e) APPLICATION OF HAZARDOUS SUBSTANCE SUPERFUND FINANCING RATE. — The Hazardous Substance Superfund financing rate under this section shall apply after December 31, 1986, and before January 1, 1996, and after the date of the enactment of the Superfund Reinvestment Act and before January 1, 2027.’’.

(2) ADJUSTMENT FOR INFLATION. —

(A) Section 4611(c)(2)(A) of such Code is amended by striking ‘‘9.7 cents’’ and inserting ‘‘16.3 cents’’.

(B) Section 4611(c) of such Code is amended by adding at the end the following:

‘‘(3) ADJUSTMENT FOR INFLATION. —

‘‘(A) IN GENERAL. — In the case of a year beginning after 2018, the amount in paragraph (2)(A) shall be increased by an amount equal to —

‘‘(i) such amount, multiplied by

‘‘(ii) the cost-of-living adjustment determined under section 1(f)(3) for the calendar year, determined by substituting ‘calendar year 2017’ for ‘calendar year 1992’ in subparagraph (B) thereof.

‘‘(B) ROUNDING. — If any amount as adjusted under subparagraph (A) is not a multiple of $0.01, such amount shall be rounded to the next lowest multiple of $0.01.’’.

(b) ADJUSTMENT OF EXCISE TAX ON CERTAIN CHEMICALS FOR INFLATION. — Section 4661(b) of such Code is amended to read as follows:

‘‘(b) AMOUNT OF TAX. —

‘‘(1) IN GENERAL. — The amount of the tax imposed by subsection (a) shall be determined in accordance with the following table:

‘‘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
Zinc sulfate	4.43
Potassium hydroxide	0.51
Sodium hydroxide	0.65
Sulfuric acid	0.61
Nitric acid	0.56.

‘‘(2) ADJUSTMENT FOR INFLATION. —

‘‘(A) IN GENERAL. — In the case of a calendar year beginning after 2018, each of the amounts in the table in paragraph (1) shall be increased by an amount equal to —

‘‘(i) such amount, multiplied by

‘‘(ii) the cost-of-living adjustment determined under section 1(f)(3) for the calendar year, determined by substituting ‘calendar year 2017’ for ‘calendar year 1992’ in subparagraph (B) thereof.

‘‘(B) ROUNDING. — If any amount as adjusted under subparagraph (A) is not a multiple of $0.01, such amount shall be rounded to the next lowest multiple of $0.01.’’.

(c) CORPORATE ENVIRONMENTAL INCOME TAX REINSTATED. —

(1) IN GENERAL. — Subchapter A of chapter 1 of such Code is amended by inserting after part VI the following:

‘‘PART VII — ENVIRONMENTAL TAX

‘‘SEC. 59A. ENVIRONMENTAL TAX.

‘‘(a) IMPOSITION OF TAX. — In the case of a corporation, there is hereby imposed (in addition to any other tax imposed by this subtitle) a tax equal to 0.12 percent of the excess of —

‘‘(1) the modified alternative minimum taxable income of such corporation for the taxable year, over

‘‘(2) $3,735,000.

‘‘(b) MODIFIED ALTERNATIVE MINIMUM TAXABLE INCOME. — For purposes of this section, the term ‘modified alternative minimum taxable income’ means alternative minimum taxable income (as defined in section 55(b)(2)) but determined without regard to —

‘‘(1) the alternative tax net operating loss deduction (as defined in section 56(d)), and

‘‘(2) the deduction allowed under section 164(a)(5).

‘‘(c) EXCEPTION FOR RICS AND REITS. — The tax imposed by subsection (a) shall not apply to —

‘‘(1) a regulated investment company to which part I of subchapter M applies, and

‘‘(2) a real estate investment trust to which part II of subchapter M applies.

‘‘(d) SPECIAL RULES. —

‘‘(1) SHORT TAXABLE YEARS. — The application of this section to taxable years of less than 12 months shall be in accordance with regulations prescribed by the Secretary.

‘‘(2) SECTION 15 NOT TO APPLY. — Section 15 shall not apply to the tax imposed by this section.

‘‘(e) ADJUSTMENT FOR INFLATION. —

‘‘(1) IN GENERAL. — In the case of a taxable year beginning after 2018, the dollar amount in subsection (a)(2) shall be increased by an amount equal to —

‘‘(A) such amount, multiplied by

‘‘(B) the cost-of-living adjustment determined under section 1(f)(3) for the calendar year in which the taxable year begins, determined by substituting ‘calendar year 2017’ for ‘calendar year 1992’ in subparagraph (B) thereof.

‘‘(2) ROUNDING. — If any amount as adjusted under subparagraph (A) is not a multiple of $1,000, such amount shall be rounded to the next lowest multiple of $1,000.

‘‘(f) 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 1, 2027.’’.

(2) CONFORMING AMENDMENTS. —

(A) Paragraph (2) of section 26(b) of such Code is amended by inserting after subparagraph (A) the following:

‘‘(B) section 59A (relating to environmental tax),’’.

(B) Section 30A(c) of such Code is amended by redesignating paragraphs (1), (2), and (3) as paragraphs (2), (3), and (4), respectively, and by inserting before paragraph (2) (as so redesignated) the following:

‘‘(1) section 59A (relating to environmental tax),’’.

(C) Subsection (a) of section 164 of such Code is amended by inserting after paragraph (4) the following:

‘‘(5) The environmental tax imposed by section 59A.’’.

(D) Section 275(a) of such Code is amended by inserting at the end the following flush sentence: ‘‘Paragraph (1) shall not apply to the tax imposed by section 59A.’’.

(E) Section 882(a)(1) of such Code is amended by inserting ‘‘59A,’’ after ‘‘55,’’.

(F) Section 1561(a) of such Code is amended —

(i) by striking ‘‘and’’ at the end of paragraph (2),

(ii) by striking the period at the end of paragraph (3) and inserting ‘‘, and’’,

(iii) by inserting after paragraph (3) the following:

‘‘(4) one dollar amount in effect under section 59A(a)(2) for the taxable year for purposes of computing the tax imposed by section 59A.’’, and

(iv) by striking ‘‘and the amount specified in paragraph (3)’’ and inserting ‘‘, the amount specified in paragraph (3), and the amount specified in paragraph (4)’’.

(G) Section 6425(c)(1)(A) of such Code is amended by striking ‘‘plus’’ at end of clause (i), by inserting ‘‘plus’’ at the end of clause (ii), and by inserting after clause (ii) the following:

‘‘(iii) the tax imposed by section 59A, over’’.

(H) Section 6655 of such Code is amended —

(i) in subsections (e)(2)(A)(i) and (e)(2)(B)(i), by striking ‘‘taxable income and alternative minimum taxable income’’ and inserting ‘‘taxable income, alternative minimum taxable income, and modified alternative minimum taxable income’’,

(ii) in subsection (e)(2)(B), by inserting after clause (ii) the following:

‘‘(iii) MODIFIED ALTERNATIVE MINIMUM TAXABLE INCOME. — The term ‘modified alternative minimum taxable income’ has the meaning given to such term by section 59A(b).’’, and

(iii) in subsection (g)(1)(A), by striking ‘‘plus’’ at the end of clause (ii), by redesignating clause (iii) as clause (iv) and by inserting after clause (ii) the following:

‘‘(iii) the tax imposed by section 59A, plus’’.

(I) Section 9507(b)(1) of such Code is amended by inserting ‘‘59A,’’ before ‘‘4611’’.

(3) CLERICAL AMENDMENT. — The table of parts for subchapter A of chapter 1 of such Code is amended by inserting after the item relating to part VI the following new item:

‘‘PART VII. ENVIRONMENTAL TAX’’.

(d) CLARIFICATION OF TAR SANDS AS CRUDE OIL FOR EXCISE TAX PURPOSES. —

(1) IN GENERAL. — Section 4612(a)(1) of such Code is amended to read as follows:

‘‘(1) CRUDE OIL. — The term ‘crude oil’ includes crude oil condensates, natural gasoline, any bitumen or bituminous mixture, any oil derived from a bitumen or bituminous mixture (including oil derived from tar sands), and any oil derived from kerogen-bearing sources (including oil derived from oil shale).’’.

(2) TECHNICAL AMENDMENT. — Section 4612(a)(2) of such Code is amended by striking ‘‘from a well located’’.

(e) TECHNICAL AMENDMENTS. —

(1) Subsection (b) of section 4611 of such Code is amended —

(A) by striking ‘‘or exported from’’ in paragraph (1)(A);

(B) by striking ‘‘or exportation’’ in paragraph (1)(B); and

(C) by striking ‘‘AND EXPORTATION’’ in the heading thereof.

(2) Paragraph (3) of section 4611(d) of such Code is amended —

(A) by striking ‘‘or exporting the crude oil, as the case may be’’ and inserting ‘‘the crude oil’’; and

(B) by striking ‘‘OR EXPORTS’’ in the heading thereof.

(f) EFFECTIVE DATE. —

(1) IN GENERAL. — Except as provided in paragraph (2), the amendments made by this section shall apply to oil and petroleum products received or entered during calendar quarters beginning after December 31, 2017.

(2) CORPORATE ENVIRONMENTAL INCOME TAX. — The amendment made by section 4(c) shall apply to taxable years beginning after December 31, 2017.

SEC. 5. APPLICABILITY.

(a) IN GENERAL. — Except as provided in section 4(f), this Act (including the amendments made by this Act) shall apply to fiscal years beginning after September 30, 2017.