Superfund Reinvestment Act

Bill: 114-hr-2768
Sponsor: Rep. Blumenauer, Earl [D-OR-3]
Introduced: 2015-06-15 in the House
Policy area: Taxation
Subjects: Budget deficits and national debt
Corporate finance and management
Government trust funds
Hazardous wastes and toxic substances
Income tax rates
Inflation and prices
Oil and gas
Pollution liability
Sales and excise taxes

Summary:
action_date: 2015-06-15
text: 

Superfund Reinvestment Act

 
 Amends the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 (CERCLA) to authorize the use of amounts in the Hazardous Substance Superfund for environmental cleanup costs authorized by such Act. 
 
Provides that receipts and disbursements of the Hazardous Substance Superfund: (1) shall not be counted as new budget authority, outlays, receipts, or deficit or surplus, for purposes of the President's budget, the congressional budget, the Balanced Budget and Emergency Deficit Control Act of 1985, or the Statutory Pay-As-You-Go Act of 2010; (2) shall be exempt from any general budget limitations; and (3) shall be available only for the purposes specified in CERCLA. 
 
Amends the Internal Revenue Code to: (1) reinstate through December 31, 2024 and adjust for inflation annually after 2016, the Hazardous Substance Superfund financing rate and the corporate environmental income tax threshold amount; (2) extend the borrowing authority of the Superfund through 2024; and (3) modify the definition of &quot;crude oil&quot; for purposes of the excise tax on petroleum and petroleum products to include any bitumen or bituminous mixture, any oil derived from a bitumen or bituminous mixture (tar sands), and any oil derived from kerogen-bearing sources (oil shale).
 
 
 


Legislative actions:
action_date: 2015-06-19
text: Referred to the Subcommittee on Environment and the Economy.
action_date: 2015-06-16
text: Referred to the Subcommittee on Water Resources and Environment.
action_date: 2015-06-15
text: Referred to the Committee on Ways and Means, and in addition to the Committees on Transportation and Infrastructure, Energy and Commerce, and the Budget, 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.
action_date: 2015-06-15
text: Referred to the Committee on Ways and Means, and in addition to the Committees on Transportation and Infrastructure, Energy and Commerce, and the Budget, 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.
action_date: 2015-06-15
text: Referred to the Committee on Ways and Means, and in addition to the Committees on Transportation and Infrastructure, Energy and Commerce, and the Budget, 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.
action_date: 2015-06-15
text: Referred to the Committee on Ways and Means, and in addition to the Committees on Transportation and Infrastructure, Energy and Commerce, and the Budget, 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.
action_date: 2015-06-15
text: Referred to the Committee on Ways and Means, and in addition to the Committees on Transportation and Infrastructure, Energy and Commerce, and the Budget, 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.
action_date: 2015-06-15
text: Sponsor introductory remarks on measure. (CR E894)
action_date: 2015-06-15
text: Introduced in House
action_date: 2015-06-15
text: Introduced in House