I 

115TH CONGRESS 

1ST SESSION H. R. 1524 

To amend the Internal Revenue Code of 1986 to extend the financing of 

the Superfund. 

IN THE HOUSE OF REPRESENTATIVES 

MARCH 13, 2017 

Mr. PALLONE (for himself, Mr. BLUMENAUER, and Mr. PASCRELL) introduced 

the following bill; which was referred to the Committee on Ways and Means 

A BILL 

To amend the Internal Revenue Code of 1986 to extend 

the financing of the Superfund. 

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

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Superfund Polluter 

5 Pays Act’’. 

6 SEC. 2. EXTENSION OF SUPERFUND TAXES. 

7 (a) EXCISE TAXES.— 

8 (1) IN GENERAL.—Section 4611(e) of the Inter9 nal Revenue Code of 1986 is amended to read as fol10 lows: 


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1 ‘‘(e) APPLICATION OF HAZARDOUS SUBSTANCE

2 SUPERFUND FINANCING RATE.—The Hazardous Sub3 stance Superfund financing rate under this section shall 

4 apply after December 31, 1986, and before January 1, 

5 1996, and after the date of the enactment of this sub6 section and before January 1, 2022.’’. 

7 (2) TECHNICAL AMENDMENTS.— 

8 (A) Section 4611(b) of such Code is 

9 amended— 

10 (i) by striking ‘‘or exported from’’ in 

11 paragraph (1)(A), 

12 (ii) by striking ‘‘or exportation’’ in 

13 paragraph (1)(B), and 

14 (iii) by striking ‘‘AND EXPORTATION’’ 

15 in the heading. 

16 (B) Section 4611(d)(3) of such Code is 

17 amended— 

18 (i) by striking ‘‘or exporting the crude 

19 oil, as the case may be’’ in the text and in20 serting ‘‘the crude oil’’, and 

21 (ii) by striking ‘‘OR EXPORTS’’ in the 

22 heading. 

23 (b) CORPORATE ENVIRONMENTAL INCOME TAX.— 


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1 (1) Subchapter A of chapter 1 of the Internal 

2 Revenue Code of 1986 is amended to read as fol3 lows: 

4 ‘‘PART VII—ENVIRONMENTAL TAX 

‘‘Sec. 59A. Environmental tax. 

5 ‘‘SEC. 59A. ENVIRONMENTAL TAX. 

6 ‘‘(a) IMPOSITION OF TAX.—In the case of a corpora7 tion, there is hereby imposed (in addition to any other tax 

8 imposed by this subtitle) a tax equal to 0.12 percent of 

9 the excess of— 

10 ‘‘(1) the modified alternative minimum taxable 

11 income of such corporation for the taxable year, over 

12 ‘‘(2) $2,000,000. 

13 ‘‘(b) MODIFIED ALTERNATIVE MINIMUM TAXABLE

14 INCOME.—For purposes of this section, the term ‘modified 

15 alternative minimum taxable income’ means alternative 

16 minimum taxable income (as defined in section 55(b)(2)) 

17 but determined without regard to— 

18 ‘‘(1) the alternative tax net operating loss de19 duction (as defined in section 56(d)), and 

20 ‘‘(2) the deduction allowed under section 

21 164(a)(5). 

22 ‘‘(c) EXCEPTION FOR RICS AND REITS.—The tax 

23 imposed by subsection (a) shall not apply to— 


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1 ‘‘(1) a regulated investment company to which 

2 part I of subchapter M applies, and 

3 ‘‘(2) a real estate investment trust to which 

4 part II of subchapter M applies. 

5 ‘‘(d) SPECIAL RULES.— 

6 ‘‘(1) SHORT TAXABLE YEARS.—The application 

7 of this section to taxable years of less than 12 

8 months shall be in accordance with regulations pre9 scribed by the Secretary. 

10 ‘‘(2) SECTION 15 NOT TO APPLY.—Section 15 

11 shall not apply to the tax imposed by this section. 

12 ‘‘(e) APPLICATION OF TAX.—The tax imposed by this 

13 section shall apply to taxable years beginning after the 

14 date of the enactment of this subsection and before Janu15 ary 1, 2022.’’. 

16 (2) CONFORMING AMENDMENTS.— 

17 (A) Paragraph (2) of section 26(b) of such 

18 Code is amended by inserting after subpara19 graph (A) the following: 

20 ‘‘(B) section 59A (relating to environ21 mental tax),’’. 

22 (B) Section 164(a) of such Code is amend23 ed by adding at the end the following: 

24 ‘‘(5) The environmental tax imposed by section 

25 59A.’’. 


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1 (C) Section 275(a) of such Code is amend2 ed by adding at the end the following: ‘‘Para3 graph (1) shall not apply to the tax imposed by 

4 section 59A.’’. 

5 (D) Section 882(a)(1) of such Code is 

6 amended by inserting ‘‘59A,’’ after ‘‘55,’’. 

7 (E) Section 1561(a) of such Code is 

8 amended— 

9 (i) by striking ‘‘and’’ at the end of 

10 paragraph (2), by striking the period at 

11 the end of paragraph (3) and inserting ‘‘, 

12 and’’, and by inserting after paragraph (3) 

13 the following: 

14 ‘‘(4) one $2,000,000 amount for purposes of 

15 computing the tax imposed by section 59A.’’; and 

16 (ii) by striking ‘‘and the amount spec17 ified in paragraph (3)’’ and inserting ‘‘, 

18 the amount specified in paragraph (3), and 

19 the amount specified in paragraph (4)’’. 

20 (F) Section 6425(c)(1)(A) of such Code is 

21 amended by striking ‘‘plus’’ at end of clause (i), 

22 by striking ‘‘over’’ and inserting ‘‘plus’’ at the 

23 end of clause (ii), and by inserting after clause 

24 (ii) the following: 


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1 ‘‘(iii) the tax imposed by section 59A, 

2 over’’. 

3 (G) Section 6655 of such Code is amend4 ed— 

5 (i) in subsections (e)(2)(A)(i) and 

6 (e)(2)(B)(i), by striking ‘‘taxable income 

7 and alternative minimum taxable income’’ 

8 and inserting ‘‘taxable income, alternative 

9 minimum taxable income, and modified al10 ternative minimum taxable income’’, 

11 (ii) in subsection (e)(2)(B), by adding 

12 at the end the following: 

13 ‘‘(iii) MODIFIED ALTERNATIVE MIN14 IMUM TAXABLE INCOME.—The term ‘modi15 fied alternative minimum taxable income’ 

16 has the meaning given to such term by sec17 tion 59A(b).’’, and 

18 (iii) in subsection (g)(1)(A), by strik19 ing ‘‘plus’’ at the end of clause (ii), by re20 designating clause (iii) as clause (iv), and 

21 by inserting after clause (ii) the following: 

22 ‘‘(iii) the tax imposed by section 59A, 

23 plus’’. 

24 (H) Section 9507(b)(1) of such Code is 

25 amended by inserting ‘‘59A,’’ after ‘‘section’’. 


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1 (I) The table of parts for subchapter A of 

2 chapter 1 of such Code is amended by inserting 

3 after the item relating to part VI the following: 

‘‘PART VII. ENVIRONMENTAL TAX’’. 

4 (c) EFFECTIVE DATES.— 

5 (1) EXCISE TAXES.—The amendments made by 

6 subsection (a) shall take effect on the date of the en7 actment of this Act. 

8 (2) INCOME TAX.—The amendments made by 

9 subsection (b) shall apply to taxable years beginning 

10 after the date of the enactment of this Act. 

Æ 


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