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[Congressional Bills 103th Congress]
[From the U.S. Government Publishing Office]
[S. 1347 Introduced in Senate (IS)]

103d CONGRESS
  1st Session
                                S. 1347

  To impose an excise tax on lead and lead products, to create a Lead 
 Abatement Trust Fund, and to create a program under which States and 
 certain political subdivisions thereof receive grants from such Trust 
                     Fund, and for other purposes.

_______________________________________________________________________

                   IN THE SENATE OF THE UNITED STATES

               August 3 (legislative day, June 30), 1993

  Mr. Bradley introduced the following bill; which was read twice and 
                  referred to the Committee on Finance

_______________________________________________________________________

                                 A BILL

 
  To impose an excise tax on lead and lead products, to create a Lead 
 Abatement Trust Fund, and to create a program under which States and 
 certain political subdivisions thereof receive grants from such Trust 
                     Fund, 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 ``Lead Abatement Trust Fund Act of 
1993''.

SEC. 2. EXCISE TAX ON LEAD AND LEAD PRODUCTS.

    (a) In General.--Chapter 38 of the Internal Revenue Code of 1986 
(relating to environmental taxes) is amended by adding at the end 
thereof the following new subchapter:

                 ``Subchapter E--Lead and Lead Products

``SEC. 4686. LEAD AND LEAD PRODUCTS.

    ``(a) General Rule; Rate.--There is hereby imposed a tax of 45 
cents per pound on--
            ``(1) lead removed from any United States smelter, and
            ``(2) lead, and lead in any taxable lead product, entered 
        into the United States for consumption, use, or warehousing.
    ``(b) Liability for Tax.--
            ``(1) Removal.--The tax imposed by subsection (a)(1) shall 
        be paid by the operator of the United States smelter.
            ``(2) Importation.--The tax imposed by subsection (a)(2) 
        shall be paid by the person entering the lead or taxable lead 
        product into the United States for consumption, use, or 
        warehousing.
    ``(c) Definitions.--For purposes of this subchapter:
            ``(1) Primary lead.--The term `primary lead' means lead 
        that has not been previously used in any finished or unfinished 
        product.
            ``(2) Secondary lead.--The term `secondary lead' means lead 
        that has been previously used in any finished or unfinished 
        product.
            ``(3) Taxable lead products.--The term `taxable lead 
        products' means any product with more than one percent of the 
        dry weight of which is attributable to lead or which contains 
        more than five pounds of lead.
            ``(4) United states smelter.--The term `United States 
        smelter' means any facility in the United States at which 
        primary or secondary lead is smelted.
    ``(d) Credit or Refund for Exports of Lead or Taxable Lead 
Products.--
            ``(1) In general.--If--
                    ``(A) tax was imposed by this section with respect 
                to any lead, and
                    ``(B)(i) such lead was exported by any person, or
                    ``(ii) such lead was used as a material in the 
                manufacture or production of any taxable lead product 
                which was exported by any person,
        credit or refund (without interest) shall be allowed or made to 
        the person who paid such tax.
            ``(2) Conditions of allowance.--Rules similar to the rules 
        of section 4662(e)(2)(B) shall apply for purposes of this 
        subsection.
            ``(3) Refunds directly to exporter.--Rules similar to the 
        rules of section 4662(e)(3) shall apply for purposes of this 
        subsection.
    ``(e) No Tax If Fund's Unobligated Balance Exceeds 
$2,500,000,000.--If, on October 1 of any calendar year, the unobligated 
balance in the Lead Abatement Trust Fund exceeds $2,500,000,000, then 
no tax shall be imposed under this section during the following 
calendar year.''
    (b) Clerical Amendment.--The table of subchapters for chapter 38 of 
such Code is amended by adding at the end thereof the following new 
item:

                              ``Subchapter E--Lead or lead products.''

SEC. 3. LEAD ABATEMENT TRUST FUND.

    (a) In General.--Subchapter A of chapter 98 of the Internal Revenue 
Code of 1986 (relating to trust funds) is amended by adding at the end 
thereof the following new section:

``SEC. 9512. LEAD ABATEMENT TRUST FUND.

    ``(a) Creation of Trust Fund.--There is hereby established in the 
Treasury of the United States a trust fund to be known as the `Lead 
Abatement Trust Fund', consisting of such amounts as may be credited to 
such trust fund as provided in this section or section 9602(b).
    ``(b) Transfers to Trust Fund.--There are hereby credited to the 
Lead Abatement Trust Fund amounts equivalent to the taxes received in 
the Treasury of the United States under section 4686 (relating to taxes 
on lead and lead products).
    ``(c) Expenditures From Trust Fund.--Amounts in the Lead Abatement 
Trust Fund shall be available, as provided in appropriations Acts, for 
purposes of making grants pursuant to the provisions of the Lead 
Abatement Trust Fund Act of 1993, and shall not be available for any 
other purposes.''
    (b) Clerical Amendment.--The table of sections for such subchapter 
A is amended by adding at the end thereof the following new item:

                              ``Sec. 9512. Lead Abatement Trust Fund.''

SEC. 4. AUTHORIZATION OF SPENDING FROM LEAD ABATEMENT TRUST FUND.

    There is hereby authorized to be appropriated funds from the Lead 
Abatement Trust Fund for the purpose of evaluating and reducing lead-
based paint hazards in accordance with title X of the Housing and 
Community Development Act of 1992.

                                 <all>
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