I 

108TH CONGRESS 

1ST SESSION H. R. 610

To amend the Internal Revenue Code of 1986 to reinstate the taxes funding 

the Hazardous Substance Superfund and the Oil Spill Liability Trust 

Fund and to extend the taxes funding the Leaking Underground Storage 

Tank Trust Fund. 

IN THE HOUSE OF REPRESENTATIVES 

FEBRUARY 5, 2003

Mr. PALLONE 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 reinstate 

the taxes funding the Hazardous Substance Superfund 

and the Oil Spill Liability Trust Fund and to extend 

the taxes funding the Leaking Underground Storage 

Tank Trust Fund.

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

3 SECTION 1. EXTENSION OF SUPERFUND, OIL SPILL LIABIL4 ITY, AND LEAKING UNDERGROUND STORAGE 

5 TANK TAXES. 

6 (a) EXCISE TAXES.—
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1 (1) SUPERFUND TAXES.—Section 4611(e) of 

2 the Internal Revenue Code of 1986 is amended to 

3 read as follows: 

4 ‘‘(e) APPLICATION OF HAZARDOUS SUBSTANCE

5 SUPERFUND FINANCING RATE.—The Hazardous Sub6 stance Superfund financing rate under this section shall 

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

8 1996, and after the date of the enactment of this sentence 

9 and before October 1, 2008.’’. 

10 (2) OIL SPILL LIABILITY TAX.—Section 4611(f) 

11 of such Code is amended to read as follows: 

12 ‘‘(f) APPLICATION OF OIL SPILL LIABILITY TRUST

13 FUND FINANCING RATE.—The Oil Spill Liability Trust 

14 Fund financing rate under subsection (c) shall apply after 

15 December 31, 1989, and before January 1, 1995, and 

16 after the date of the enactment of this sentence and before 

17 October 1, 2008.’’. 

18 (3) LEAKING UNDERGROUND STORAGE TANK

19 RATE.—Section 4081(d)(3) of such Code is amended 

20 by striking ‘‘April 1, 2005’’ and inserting ‘‘October 

21 1, 2008’’. 

22 (b) CORPORATE ENVIRONMENTAL INCOME TAX.—

23 Section 59A(e) of such Code is amended to read as fol24 lows: 
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1 ‘‘(e) APPLICATION OF TAX.—The tax imposed by this 

2 section shall apply to taxable years beginning after De3 cember 31, 1986, and before January 1, 1996, and to tax4 able years beginning after the date of the enactment of 

5 this sentence and before January 1, 2008.’’. 

6 (c) TECHNICAL AMENDMENTS.—

7 (1) Section 4611(b) of such Code is amended—

8 (A) by striking ‘‘or exported from’’ in 

9 paragraph (1)(A), 

10 (B) by striking ‘‘or exportation’’ in para11 graph (1)(B), and 

12 (C) by striking ‘‘AND EXPORTATION’’ in 

13 the heading. 

14 (2) Section 4611(d)(3) of such Code is amend15 ed—

16 (A) by striking ‘‘or exporting the crude oil, 

17 as the case may be’’ in the text and inserting 

18 ‘‘the crude oil’’, and 

19 (B) by striking ‘‘OR EXPORTS’’ in the 

20 heading. 

21 (d) EFFECTIVE DATES.—

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

23 subsections (a) and (c) shall take effect on the date 

24 of the enactment of this Act. 
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1 (2) INCOME TAX.—The amendment made by 

2 subsection (b) shall apply to taxable years beginning 

3 after the date of the enactment of this Act.

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