Title: Superfund Enhancement Act of 2018
Policy area: Taxation

Summary:
Superfund Enhancement Act of 2018
This bill amends the Internal Revenue Code to: (1) reinstate the Hazardous Substance Superfund financing rate (the Superfund tax) beginning on January 1, 2018; and (2) allow certain small businesses to expense up to $10,000 of the costs for relocating a trade or business carried on in a location which is situated on, or adjacent to, a site which is on, or proposed for, the national priorities list under the Comprehensive Environmental Response, Compensation, and Liability Act of 1980.
The bill also makes small businesses and individuals that are relocating from a Superfund site eligible for certain Small Business Administration disaster loans.

[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5669 Introduced in House (IH)]

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115th CONGRESS
  2d Session
                                H. R. 5669

 To amend the Internal Revenue Code of 1986 and the Small Business Act 
  to reduce costs for certain businesses required to relocate from a 
                Superfund site, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                              May 1, 2018

 Ms. Velazquez (for herself, Mr. Grijalva, Ms. Lee, Mr. Visclosky, Ms. 
Barragan, Mr. Gutierrez, Ms. Bordallo, Ms. Norton, Ms. Shea-Porter, Mr. 
 Sires, Ms. Eddie Bernice Johnson of Texas, Mr. Scott of Virginia, Ms. 
 McCollum, Mrs. Watson Coleman, Ms. Jackson Lee, Mr. McGovern, and Mr. 
  Espaillat) introduced the following bill; which was referred to the 
Committee on Ways and Means, and in addition to the Committee on Small 
Business, for a period to be subsequently determined by the Speaker, in 
   each case for consideration of such provisions as fall within the 
                jurisdiction of the committee concerned

_______________________________________________________________________

                                 A BILL


 
 To amend the Internal Revenue Code of 1986 and the Small Business Act 
  to reduce costs for certain businesses required to relocate from a 
                Superfund site, 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 ``Superfund Enhancement Act of 2018''.

SEC. 2. RENEWAL OF SUPERFUND FINANCING RATE.

    (a) In General.--Section 4611 of the Internal Revenue Code of 1986 
is amended by striking subsection (e).
    (b) Effective Date.--The amendment made by this section shall take 
effect on January 1, 2018.

SEC. 3. DEDUCTION FOR EXPENSES IN CONNECTION WITH MOVING FROM A SITE 
              LISTED ON NATIONAL PRIORITIES LIST.

    (a) In General.--Part VI of subchapter B of chapter 1 of the 
Internal Revenue Code of 1986 is amended by inserting after section 198 
the following new section:

``SEC. 198A. EXPENSES IN CONNECTION WITH MOVING FROM A SITE LISTED ON 
              NATIONAL PRIORITIES LIST.

    ``(a) In General.--A qualified small business may elect to treat as 
an expense which is not chargeable to capital account, and deductible 
in the year in which paid or incurred, so much of the qualified 
environmental disaster moving expenses which are paid or incurred by 
the taxpayer for the taxable year as do not exceed $10,000.
    ``(b) Qualified Small Business.--For purposes of this section, the 
term `qualified small business' means any person which is a small 
business concern (as defined under section 3 of the Small Business Act 
(15 U.S.C. 632)) at all times during the preceding taxable year.
    ``(c) Qualified Environmental Disaster Moving Expense.--For 
purposes of this section, the term `qualified environmental disaster 
moving expense' means any expenditure--
            ``(1) which is otherwise chargeable to capital account, and
            ``(2) which is paid or incurred in connection with 
        relocating a trade or business carried on in a location which 
        is situated on, or adjacent to, a site which is on, or proposed 
        for, the national priorities list under section 105(a)(8)(B) of 
        the Comprehensive Environmental Response, Compensation, and 
        Liability Act of 1980.
    ``(d) Special Rules.--For purposes of this section--
            ``(1) Potentially responsible parties excluded.--No amount 
        shall be taken into account under subsection (a) by a person 
        who under section 107(a) of the Comprehensive Environmental 
        Response, Compensation, and Liability Act of 1980 is 
        potentially liable with respect to the site described in 
        subsection (c)(2).
            ``(2) Controlled groups.--All members of the same 
        controlled group of corporations (within the meaning of section 
        52(a)) and all persons under common control (within the meaning 
        of section 52(b)) shall be treated as 1 person for purposes of 
        this section.
            ``(3) Partnerships and s corporations.--In the case of a 
        partnership, the $10,000 limitation under subsection (a) shall 
        apply with respect to the partnership and each partner. A 
        similar rule shall apply in the case of an S corporation and 
        its shareholders.
            ``(4) Denial of double benefit.--In the case of the amount 
        of the deduction determined under this section--
                    ``(A) no deduction or credit shall be allowed for 
                such amount under any other provision of this chapter, 
                and
                    ``(B) no increase in the adjusted basis of any 
                property shall result from such amount.''.
    (b) Clerical Amendment.--The table of sections for part VI of 
subchapter B of chapter 1 of such Code is amended by inserting after 
the item relating to section 198 the following new item:

``Sec. 198A. Expenses in connection with moving from a site listed on 
                            national priorities list.''.
    (c) Effective Date.--The amendments made by this section shall 
apply to amounts paid or incurred in taxable years beginning after the 
date of the enactment of this Act.

SEC. 4. DISASTER LOANS TO SMALL BUSINESS CONCERNS FOR RELOCATION FROM A 
              SUPERFUND SITE.

    (a) Establishment.--The Administrator shall establish and carry out 
a pilot program under which the Administrator shall provide direct 
loans to an eligible person to assist such eligible person in 
relocating the principal place of business or primary place of 
residence of such eligible person, if the principal place of business 
or primary place of residence is located in an area that is designated 
as a Superfund site on a date after--
            (1) with respect to an eligible person that is a small 
        business concern, the establishment of the principal place of 
        business; or
            (2) with respect to an eligible person that is an 
        individual, the establishment of a primary place of residence.
    (b) Loan Terms.--A loan made under the program established under 
subsection (a) shall--
            (1) be subject to the same limitations as a loan described 
        under section 7(b)(8) of the Small Business Act (15 U.S.C. 
        636(b)(8)); and
            (2) have a term of 5 years.
    (c) Eligibility for Economic Injury Disaster Loans.--
            (1) In general.--The Administrator may make a loan pursuant 
        to section 7(b)(2) of the Small Business Act (15 U.S.C. 
        636(b)(2)) to assist an eligible person that is a small 
        business concern that has suffered substantial economic injury 
        as a result of the location of the eligible person in a 
        Superfund site.
            (2) No duplication of benefits.--An eligible person 
        described in paragraph (1) may receive a loan under subsection 
        (a) and section 7(b)(2) of the Small Business Act (15 U.S.C. 
        636(b)(2)).
            (3) Potentially responsible parties excluded.--No loan may 
        be made to a person who under section 107(a) of the 
        Comprehensive Environmental Response, Compensation, and 
        Liability Act of 1980 is potentially liable with respect to the 
        Superfund site.
    (d) Definitions.--In this section:
            (1) Eligible person.--The term ``eligible person'' means--
                    (A) a small business concern (as defined under 
                section 3 of the Small Business Act (15 U.S.C. 632)) 
                for which the principal place of business of the 
                concern is required to relocate because such concern is 
                located on or near a Superfund site; or
                    (B) an individual whose primary place of residence 
                is located on or adjacent to a Superfund site.
            (2) Substantial economic injury.--The term ``substantial 
        economic injury'' has the meaning given under section 7(b)(3) 
        of the Small Business Act (15 U.S.C. 636(b)(3)).
            (3) Superfund site.--The term ``Superfund site'' means a 
        site that is included on the National Priorities List developed 
        by the President in accordance with section 105(a)(8)(B) of the 
        Comprehensive Environmental Response, Compensation, and 
        Liability Act of 1980 (42 U.S.C. 9605(a)(8)(B)).
    (e) Authorization of Appropriations.--There is authorized to be 
appropriated to the Administrator $10,000,000 for fiscal years 2019 
through 2023.

SEC. 5. ELIGIBILITY FOR ECONOMIC INJURY LOANS.

    Section 7(b) of the Small Business Act (15 U.S.C. 636(b)) is 
amended--
            (1) in paragraph (2), by inserting ``to any eligible 
        concern pursuant to paragraph (16), or''; and
            (2) by inserting after paragraph (15) the following new 
        paragraph:
            ``(16) Economic injury loans for eligible concerns.--
                    ``(A) In general.--The Administrator may make a 
                loan under paragraph (2) to an eligible concern 
                regardless of whether a disaster has occurred in the 
                area in which the eligible concern is located.
                    ``(B) Definitions.--
                            ``(i) Eligible concern.--The term `eligible 
                        concern' means a small business concern for 
                        which the principal place of business of the 
                        concern is required to relocate because such 
                        concern is located on or near a Superfund site.
                            ``(ii) Superfund site.--The term `Superfund 
                        site' means a site that is included on the 
                        National Priorities List developed by the 
                        President in accordance with section 
                        105(a)(8)(B) of the Comprehensive Environmental 
                        Response, Compensation, and Liability Act of 
                        1980 (42 U.S.C. 9605(a)(8)(B)).''.
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