[Congressional Bills 103th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3506 Introduced in House (IH)]

103d CONGRESS
  1st Session
                                H. R. 3506

 To amend the Comprehensive Environmental Response, Compensation, and 
 Liability Act of 1980 with respect to interest on amounts recoverable 
                            under that Act.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           November 15, 1993

Ms. Byrne introduced the following bill; which was referred jointly to 
      the Committees on Energy and Commerce and Public Works and 
                             Transportation

_______________________________________________________________________

                                 A BILL


 
 To amend the Comprehensive Environmental Response, Compensation, and 
 Liability Act of 1980 with respect to interest on amounts recoverable 
                            under that Act.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. INTEREST ON AMOUNTS RECOVERABLE UNDER COMPREHENSIVE 
              ENVIRONMENTAL RESPONSE, COMPENSATION, AND LIABILITY ACT 
              OF 1980.

    (a) Date on Which Interest Starts To Accrue.--Subsection (a) of 
section 107 of the Comprehensive Environmental Response, Compensation, 
and Liability Act of 1980 (42 U.S.C. 9607(a)) is amended by striking 
out ``(i) the date payment of a specified amount is demanded in 
writing,'' and inserting in lieu thereof ``(i) the date notice of 
potential liability is provided by the President in writing,''.
    (b) Rate of Interest on Amounts Recoverable.--Subsection (a) of 
section 107 of such Act (42 U.S.C. 9607(a)) is further amended by 
inserting after ``Internal Revenue Code of 1954'' the following: ``, 
plus 3 percentage points''.

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