107
‘‘January 1, 1996’’ each place it appears and insert-
ing ‘‘January 1, 2001’’:
(A) Section 59A(e)(1) (relating to applica-
tion of environmental tax).
(B) Paragraphs (1) and (3) of section
4611(e) (relating to application of Hazardous
Substance Superfund financing rate).
(2) Paragraph (2) of section 4611(e) of such
Code is amended—
(A) by striking ‘‘1993’’ and inserting
‘‘1998’’,
(B) by striking ‘‘1994’’ each place it ap-
pears and inserting ‘‘1999’’, and
(C) by striking ‘‘1995’’ each place it ap-
pears and inserting ‘‘2000’’.
(b) INCREASE IN AGGREGATE TAX WHICH MAY BE
COLLECTED.—Paragraph (3) of section 4611(e) of such
Code is amended by striking ‘‘$11,970,000,000’’ each
place it appears and inserting ‘‘$26, 970,000,000’’ and by
striking ‘‘December 31, 1995’’ and inserting ‘‘December
31, 2000’’.
(c) EXTENSION
OF REPAYMENT DEADLINE
FOR
SUPERFUND BORROWING.—Subparagraph (B) of section
9507(d)(3) is amended by striking ‘‘December 31, 1995’’
and inserting ‘‘December 31, 2000’’.
108
(d) EXTENSION OF AUTHORIZATION OF APPROPRIA-
TIONS TO TRUST FUND.—Subsection (b) of section 517
of the Superfund Revenue Act of 1986 (26 U.S.C. 9507
note) is amended by striking ‘‘and’’ at the end of para-
graph (8), by striking the period at the end of paragraph
(9) and inserting ‘‘, and’’, and by adding at the end there-
of the following new paragraphs:
‘‘(10) 1996, $250,000,000,
‘‘(11) 1997, $250,000,000,
‘‘(12) 1998, $250,000,000,
‘‘(12) 1999, $250,000,000, and
‘‘(13) 2000, $250,000,000,’’.
SEC. 402. INCREASE IN ENVIRONMENTAL INCOME TAX.
(a) IN GENERAL.—Subsection (a) of section 59A of
the Internal Revenue Code of 1986 (relating to environ-
mental tax) is amended by inserting ‘‘(0.24 percent in the
case of taxable years beginning after December 31, 1994,
and before January 1, 2000)’’.
(b) INCREASED REVENUES NOT DEPOSITED
IN
SUPERFUND.—Subsection (b) of section 9507 of such
Code (relating to Hazardous Substance Superfund) is
amended by adding at the end the following new sentence:
‘‘Only 50 percent of the taxes received in the Treasury
under section 59A with respect to taxable years beginning
109
after December 31, 1994, and before January 1, 2000,
shall be taken into account under paragraph (1).’’
(c) EFFECTIVE DATE.—The amendment made by
subsection (a) shall apply to taxable years beginning after
December 31, 1994.
SEC. 403. ENVIRONMENTAL FEES AND ASSESSMENTS ON IN-
SURANCE COMPANIES.
(a) IN GENERAL.—The Internal Revenue Code of
1986 is amended by inserting after section ll the fol-
lowing new section:
‘‘§
. Environmental fees and assessments on insur-
ance companies’’.
[RESERVED]
(b) CLERICAL AMENDMENTS.—The table of sections
for chapter ll of the Internal Revenue Code of 1986
is amended by inserting after the item relating to section
ll the following:
‘‘§
. Environmental fees and assessments on insur-
ance companies’’.
SEC. 404. RETROACTIVE LIABILITY FUND.
(a) IN GENERAL.—Subchapter A of chapter 98 of the
Internal Revenue Code of 1986 (relating to trust fund
code) is amended by adding at the end thereof the follow-
ing new section:
110
‘‘SEC. 9512. RETROACTIVE LIABILITY FUND.
‘‘(a) CREATION OF TRUST FUND.—There is estab-
lished in the Treasury of the United States a trust fund
to be known as the ‘Retroactive Liability Fund’, consisting
of such amounts as may be appropriated or credited to
such Fund as provided in this section or section 9602(b).
‘‘(b) TRANSFERS TO FUND.—There are hereby ap-
propriated to the Retroactive Liability Fund—
‘‘(1) amounts equivalent to 50 percent of the
revenues received in the Treasury from the tax im-
posed by section 59A (relating to environmental tax)
for taxable years beginning after December 31,
1994, and before January 1, 2000; and
‘‘(2) amounts received from fees and assess-
ments imposed by the amendments made by section
403 of this Act.
‘‘(c) EXPENDITURES FROM FUND.—Amounts in the
Retroactive Liability Fund shall be available, as provided
in appropriation Acts, only for purposes of making ex-
penditures to carry out section 107(n) of the Comprehen-
sive Environmental Response, Compensation, and Liabil-
ity Act of 1980.’’
(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. Retroactive Liability Fund.’’