[Congressional Bills 108th Congress]
[From the U.S. Government Publishing Office]
[S. 173 Introduced in Senate (IS)]
108th CONGRESS
1st Session
S. 173
To amend the Internal Revenue Code of 1986 to extend the financing of
the Superfund.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
January 15, 2003
Mrs. Boxer (for herself, Mr. Chafee, Mr. Jeffords, Mr. Corzine, Mr.
Biden, and Mr. Durbin) introduced the following bill; which was read
twice and referred to the Committee on Finance
_______________________________________________________________________
A BILL
To amend the Internal Revenue Code of 1986 to extend the financing of
the Superfund.
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 ``Toxic Clean-up Polluter Pays Renewal
Act''.
SEC. 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, 2014.''.
(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, 2014.''.
(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.
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