Superfund Polluter Pays Act

Bill: 113-hr-2193
Sponsor: full_name: Rep. Pallone, Frank, Jr. [D-NJ-6]
Introduced: 2013-05-23
Policy area: Taxation
Subjects: Government trust funds

Hazardous wastes and toxic substances

Pollution liability

Sales and excise taxes
Latest action: action_date: 2013-05-23
text: Referred to the House Committee on Ways and Means.

Summaries:
action_date: 2013-05-23
action_desc: Introduced in House
text: Superfund Polluter Pays Act - Amends the Internal Revenue Code by reinstating until January 1, 2019, the Hazardous Substance Superfund financing rate and the corporate environmental income tax.

tv_txt: I 113th CONGRESS 1st Session H. R. 2193 IN THE HOUSE OF REPRESENTATIVES May 23, 2013 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 extend the financing of the Superfund.

1. Short title This Act may be cited as the Superfund Polluter Pays Act . 2. Extension of Superfund taxes (a) Excise taxes Section 4611(e) of the Internal Revenue Code of 1986 is amended to read as follows: (e) Application of hazardous substance superfund financing rate The Hazardous Substance Superfund financing rate under this section shall apply after December 31, 1986, and before January 1, 1996, and after the date of the enactment of this subsection and before January 1, 2019. . (b) Corporate environmental income tax Section 59A(e) of the Internal Revenue Code of 1986 is amended to read as follows: (e) Application of tax The tax imposed by this section shall apply to taxable years beginning after December 31, 1986, and before January 1, 1996, and to taxable years beginning after the date of the enactment of this subsection and before January 1, 2019. . (c) Technical amendments (1) Section 4611(b) of the Internal Revenue Code of 1986 is amended— (A) by striking or exported from in paragraph (1)(A), (B) by striking or exportation in paragraph (1)(B), and (C) by striking and exportation in the heading. (2) Section 4611(d)(3) of such Code is amended— (A) by striking or exporting the crude oil, as the case may be in the text and inserting the crude oil , and (B) by striking or exports in the heading. (d) Effective dates (1) Excise taxes The amendments made by subsections (a) and (c) shall take effect on the date of the enactment of this Act. (2) Income tax The amendment made by subsection (b) shall apply to taxable years beginning after the date of the enactment of this Act.