II

104TH CONGRESS

2D SESSION S. 2027

To provide for a 5-year extension of Hazardous Substance Superfund, and

for other purposes.

IN THE SENATE OF THE UNITED STATES

AUGUST 2, 1996

Mr. LAUTENBERG introduced the following bill; which was read twice and

referred to the Committee on Finance

A BILL

To provide for a 5-year extension of Hazardous Substance

Superfund, and for other purposes.

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled,

3 SECTION 1. 5-YEAR EXTENSION OF HAZARDOUS SUB4 STANCE SUPERFUND.

5 (a) EXTENSION OF TAXES.—

6 (1) The following provisions of the Internal

7 Revenue Code of 1986 are each amended by striking

8 ‘‘January 1, 1996’’ each place it appears and insert9 ing ‘‘January 1, 2001’’:
2

•S 2027 IS

1 (A) Section 59A(e)(1) (relating to applica2 tion of environmental tax).

3 (B) Paragraphs (1) and (3) of section

4 4611(e) (relating to application of Hazardous

5 Substance Superfund financing rate).

6 (2) Paragraph (2) of section 4611(e) of such

7 Code is amended—

8 (A) by striking ‘‘1993’’ and inserting

9 ‘‘1998’’,

10 (B) by striking ‘‘1994’’ each place it ap11 pears and inserting ‘‘1999’’, and

12 (C) by striking ‘‘1995’’ each place it ap13 pears and inserting ‘‘2000’’.

14 (b) INCREASE IN AGGREGATE TAX WHICH MAY BE

15 COLLECTED.—Paragraph (3) of section 4611(e) of such

16 Code is amended by striking ‘‘$11,970,000,000’’ each

17 place it appears and inserting ‘‘$22,000,000,000’’ and by

18 striking ‘‘December 31, 1995’’ and inserting ‘‘December

19 31, 2000’.

20 (c) EXTENSION OF REPAYMENT DEADLINE FOR

21 SUPERFUND BORROWING.—Subparagraph (B) of section

22 9507(d)(3) of such Code is amended by striking ‘‘Decem23 ber 31, 1995’’ and inserting ‘‘December 31, 2000’’.
3

•S 2027 IS

1 (d) EXTENSION OF TRUST FUND PURPOSES.—Sub2 paragraph (A) of section 9507(c)(1) of such Code is

3 amended—

4 (1) by striking clause (i) and inserting the fol5 lowing:

6 ‘‘(i) paragraphs (1), (2), (5), (6), (7),

7 (8), (9), and (10) of section 111(a) of

8 CERCLA as in effect on the date of the

9 enactment of the Superfund Reform Act of

10 1995,’’, and

11 (2) by striking clause (iii) and inserting the fol12 lowing:

13 ‘‘(iii) subsections (m), (n), (q), (r),

14 (s), and (t) of section 111 of CERCLA (as

15 so in effect), or’’.

16 (e) EXTENSION OF AUTHORIZATION OF APPROPRIA17 TIONS TO TRUST FUND.—Subsection (b) of section 517

18 of the Superfund Revenue Act of 1986 (26 U.S.C. 9507

19 note) is amended by striking ‘‘and’’ at the end of para20 graph (8), by striking the period at the end of paragraph

21 (9) and inserting a comma, and by adding at the end the

22 following new paragraphs:

23 ‘‘(10) 1996, $250,000,000,

24 ‘‘(11) 1997, $250,000,000,

25 ‘‘(12) 1998, $250,000,000, and
4

•S 2027 IS

1 ‘‘(13) 1999, $250,000,000,’’.

2 (f) COORDINATION WITH OTHER PROVISIONS.—

3 Paragraph (2) of section 9507(e) of the Internal Revenue

4 Code of 1986 is amended by striking ‘‘CERCLA’’ and all

5 that follows through ‘‘Acts)’’ and inserting ‘‘CERCLA, the

6 Superfund Amendments and Reauthorization Act of 1986,

7 and the Superfund Reform Act of 1995 (or in any amend8 ment made by any of such Acts)’’.

Æ