S.Amdt. 1324

SA 1324. Ms. BALDWIN submitted an amendment intended to be proposed
to amendment SA 1221 proposed by Mr. Hatch to the bill H.R. 1314, to
amend the Internal Revenue Code of 1986 to provide for a right to an
administrative appeal relating to adverse determinations of tax-exempt
status of certain organizations; which was ordered to lie on the table;
as follows:

At the end, add the following:

TITLE III--MISCELLANEOUS

SEC. 301. ENVIRONMENTAL IMPROVEMENT TRUST FUND.

(a) In General.--There is established in the Treasury of
the United States a trust fund to be known as the
``Environmental Improvement Trust Fund'' (in this section
referred to as the ``Trust Fund''), consisting of such
amounts as may be transferred to the Trust Fund under
subsection (b) and any amounts that may be credited to the
Trust Fund under subsection (d)(3).
(b) Transfer of Amounts.--
(1) In general.--The Secretary of the Treasury shall
transfer to the Trust Fund, from the general fund of the
Treasury, amounts determined by the Secretary to be
equivalent to amounts received in the general fund that are
attributable to the duties collected, during the period
specified in paragraph (3), pursuant to a countervailing duty
order or an antidumping duty order under title VII of the
Tariff Act of 1930 (19 U.S.C. 1671 et seq.) or a finding
under the Antidumping Act, 1921 (title II of the Act of May
27, 1921; 42 Stat. 11, chapter 14) on articles produced by
manufacturers in the following industries, as determined by
the Secretary:
(A) Food and beverages.
(B) Textiles.
(C) Lumber.
(D) Paper and printing.
(E) Chemicals.
(F) Plastics and rubber.
(G) Nonmetallic minerals.
(H) Primary metals.
(I) Fabricated metals.
(J) Machinery and equipment.
(K) Electronic equipment.
(L) Transportation equipment.
(M) Any other manufacturing industry if domestic
manufacturers in that industry are required to purchase new
equipment or hire new employees in order to comply with
regulations promulgated by the Administrator of the
Environmental Protection Agency relating to improving overall
environmental quality.
(2) Determination.--In determining if domestic
manufacturers are required to purchase new equipment or hire
new employees in order to comply with regulations under
paragraph (1)(M), the Secretary shall consult with the
Administrator.
(3) Period specified.--The period specified in this
paragraph begins on January 1, 2016, and ends on the date
that is 5 years after the date of the enactment of this Act.
(c) Availability of Amounts in Trust Fund.--
(1) Availability for assisting domestic manufacturers.--
Amounts in the Trust Fund shall be available to the
Administrator, as provided by appropriation Acts--
(A) to assist any domestic manufacturer in an industry
specified in subsection (b)(1) if that domestic manufacturer
is required to purchase new equipment or hire new employees
in order to comply with any regulations promulgated by the
Administrator relating to improving overall environmental
quality, as determined by the Administrator; and
(B) to cover administrative costs incurred by the
Administrator in carrying out subparagraph (A).
(2) Distribution of amounts.--
(A) In general.--Subject to subparagraph (B), the
Administrator shall distribute amounts available for
assistance under paragraph (1)(A) among domestic
manufacturers in the industries specified in subsection
(b)(1) in proportion to the estimated impact of regulations
described in such paragraph on the prices in the United
States of articles produced by domestic manufacturers in such
industries, as determined by the Administrator.
(B) Exclusion.--Of the amounts distributed under
subparagraph (A), 75 percent of those amounts shall be
distributed to domestic manufacturers that are small or
medium sized enterprises, as determined by the Administrator.
(d) Investment of Trust Fund.--

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(1) In general.--The Secretary of the Treasury shall invest
such portion of the Trust Fund as is not required to meet
current withdrawals in interest-bearing obligations of the
United States or in obligations guaranteed as to both
principal and interest by the United States.
(2) Obligations.--
(A) Acquisition.--The obligations specified in paragraph
(1) may be acquired on original issue at the issue price or
by purchase of outstanding obligations at the market price.
(B) Sale.--Any obligation acquired by the Trust Fund may be
sold by the Secretary of the Treasury at the market price.
(3) Interest and proceeds from sale or redemption of
obligations.--The interest on, and the proceeds from the sale
or redemption of, any obligations held in the Trust Fund
shall be credited to and form a part of the Trust Fund.
(e) Domestic Manufacturer Defined.--In this section, the
term ``domestic manufacturer'' means a person that produces
articles in the United States.
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