Superfund Polluter Pays Restoration Act of 2014 - Amends the Internal Revenue Code to: (1) reinstate the Hazardous Substance Superfund financing rate beginning 60 days after enactment of this Act; (2) increase such rate from 9.7 cents to 15.8 cents per barrel of crude oil; (3) adjust for inflation in taxable years beginning after 2014 the $3.5 billion Superfund threshold after which no tax is imposed; (4) reinstate and increase the rates of tax on taxable chemicals; (5) modify the definition of "crude oil" to include any bitumen or bituminous mixture, any oil derived from such mixture (including oil derived from tar sands), and any oil derived form kerogen-bearing sources (including oil derived from oil shale); and (6) allow the use of the Superfund for environmental remediation without further appropriation.
[Congressional Bills 113th Congress]
[From the U.S. Government Publishing Office]
[S. 2679 Introduced in Senate (IS)]
113th CONGRESS
2d Session
S. 2679
To amend the Internal Revenue Code of 1986 to reinstate the financing
for the Hazardous Substance Superfund, and for other purposes.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
July 29, 2014
Mr. Booker (for himself, Mr. Menendez, and Mrs. Boxer) introduced the
following bill; which was read twice and referred to the Committee on
Finance
_______________________________________________________________________
A BILL
To amend the Internal Revenue Code of 1986 to reinstate the financing
for the Hazardous Substance Superfund, 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 Polluter Pays Restoration
Act of 2014''.
SEC. 2. EXTENSION AND MODIFICATION OF SUPERFUND EXCISE TAXES.
(a) 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 that is 60 days after the date of the
enactment of the Superfund Polluter Pays Restoration Act of 2014.''.
(b) Modification of Hazardous Substance Superfund Financing Rate.--
(1) In general.--Section 4611(c)(2)(A) of such Code is
amended by striking ``9.7 cents'' and inserting ``15.8 cents''.
(2) Inflation adjustment.--Section 4611(c) of such Code is
amended by adding at the end the following new paragraph:
``(3) Adjustment for inflation.--
``(A) In general.--In the case of any taxable year
beginning after December 31, 2014, the amount under
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 in which such taxable year begins
by substituting `calendar year 2013' for
`calendar year 1992' in subparagraph (B)
thereof.
``(B) Rounding.--If any increase determined under
this paragraph is not a multiple of 0.1 cents, such
increase shall be rounded to the next lowest multiple
of 0.1 cents.''.
(c) Modification of Rate of Tax on Certain Chemicals.--Section
4661(b) of the Internal Revenue Code of 1986 is amended to read as
follows:
``(b) Amount of Tax.--
``(1) In general.--The amount of tax imposed by subsection
(a) shall be determined in accordance with the following table:
------------------------------------------------------------------------
The tax is the following
``In the case of: amount per ton:
------------------------------------------------------------------------
Acetylene.................................... $11.00
Benzene...................................... 11.00
Butane....................................... 11.00
Butylene..................................... 11.00
Butadiene.................................... 11.00
Ethylene..................................... 11.00
Methane...................................... 7.77
Napthalene................................... 11.00
Propylene.................................... 11.00
Toluene...................................... 11.00
Xylene....................................... 11.00
Ammonia...................................... 5.96
Antimony..................................... 10.05
Antimony trioxide............................ 8.47
Arsenic...................................... 10.05
Arsenic trioxide............................. 7.70
Barium sulfide............................... 5.19
Bromine...................................... 10.05
Cadmium...................................... 10.05
Chlorine..................................... 6.10
Chromium..................................... 10.05
Chromite..................................... 3.43
Potassium dichromate......................... 3.82
Sodium dichromate............................ 4.22
Cobalt....................................... 10.05
Cupric sulfate............................... 4.22
Cupric oxide................................. 8.11
Cuprous oxide................................ 8.96
Hydrochloric acid............................ 0.65
Hydrogen fluoride............................ 9.55
Lead oxide................................... 9.35
Mercury...................................... 10.05
Nickel....................................... 10.05
Phosphorus................................... 10.05
Stannous chloride............................ 6.43
Stannic chloride............................. 4.79
Zinc chloride................................ 5.01
Zinc sulfate................................. 4.29
Potassium hydroxide.......................... 0.50
Sodium hydroxide............................. 0.63
Sulfuric acid................................ 0.59
Nitric acid.................................. 0.54.
------------------------------------------------------------------------
``(2) Adjustment for inflation.--
``(A) In general.--In the case of any taxable year
beginning after December 31, 2014, each of the dollar
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 in which such taxable year begins
by substituting `calendar year 2013' for
`calendar year 1992' in subparagraph (B)
thereof.
``(B) Rounding.--If any increase determined under
this paragraph is not a multiple of $0.01, such
increase shall be rounded to the next lowest multiple
of $0.01.''.
(d) Effective Date.--The amendments made by this section shall
apply to oil and petroleum products received or entered during calendar
quarters beginning more than 60 days after the date of the enactment of
this Act.
SEC. 3. CLARIFICATION OF DEFINITION OF CRUDE OIL FOR EXCISE TAX
PURPOSES.
(a) Definition of Crude Oil.--Paragraph (1) of section 4612(a) of
the Internal Revenue Code of 1986 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).''.
(b) Effective Date.--The amendment made by this section shall apply
to oil and petroleum products received or entered during calendar
quarters beginning more than 60 days after the date of the enactment of
this Act.
SEC. 4. 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) in subsection (c)(1)--
(A) by striking ``, as provided in appropriations
Acts,''; and
(B) by striking ``the Superfund Amendments and
Reauthorization Act of 1986'' in clause (i) thereof and
inserting ``the Superfund Polluter Pays Restoration Act
of 2014''; and
(2) in subsection (d)(3), by striking subparagraph (B) and
redesignating subparagraph (C) as subparagraph (B).
<all>
Introduced in Senate
Sponsor introductory remarks on measure. (CR S5053)
Read twice and referred to the Committee on Finance.
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