[Congressional Bills 104th Congress]
[From the U.S. Government Publishing Office]
[S. 2027 Introduced in Senate (IS)]







104th CONGRESS
  2d Session
                                S. 2027

To provide for a 5-year extension of Hazardous Substance Superfund, and 
                          for other purposes.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             August 2, 1996

Mr. Lautenberg introduced the following bill; which was read twice and 
                  referred to the Committee on Finance

_______________________________________________________________________

                                 A BILL


 
To provide for a 5-year extension of Hazardous Substance Superfund, and 
                          for other purposes.

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

SECTION 1. 5-YEAR EXTENSION OF HAZARDOUS SUBSTANCE SUPERFUND.

    (a) Extension of Taxes.--
            (1) The following provisions of the Internal Revenue Code 
        of 1986 are each amended by striking ``January 1, 1996'' each 
        place it appears and inserting ``January 1, 2001'':
                    (A) Section 59A(e)(1) (relating to application of 
                environmental tax).
                    (B) Paragraphs (1) and (3) of section 4611(e) 
                (relating to application of Hazardous Substance 
                Superfund financing rate).
            (2) Paragraph (2) of section 4611(e) of such Code is 
        amended--
                    (A) by striking ``1993'' and inserting ``1998'',
                    (B) by striking ``1994'' each place it appears and 
                inserting ``1999'', and
                    (C) by striking ``1995'' each place it appears and 
                inserting ``2000''.
    (b) Increase in Aggregate Tax Which May Be Collected.--Paragraph 
(3) of section 4611(e) of such Code is amended by striking 
``$11,970,000,000'' each place it appears and inserting 
``$22,000,000,000'' and by striking ``December 31, 1995'' and inserting 
``December 31, 2000'.
    (c) Extension of Repayment Deadline for Superfund Borrowing.--
Subparagraph (B) of section 9507(d)(3) of such Code is amended by 
striking ``December 31, 1995'' and inserting ``December 31, 2000''.
    (d) Extension of Trust Fund Purposes.--Subparagraph (A) of section 
9507(c)(1) of such Code is amended--
            (1) by striking clause (i) and inserting the following:
                            ``(i) paragraphs (1), (2), (5), (6), (7), 
                        (8), (9), and (10) of section 111(a) of CERCLA 
                        as in effect on the date of the enactment of 
                        the Superfund Reform Act of 1995,'', and
            (2) by striking clause (iii) and inserting the following:
                            ``(iii) subsections (m), (n), (q), (r), 
                        (s), and (t) of section 111 of CERCLA (as so in 
                        effect), or''.
    (e) Extension of Authorization of Appropriations to Trust Fund.--
Subsection (b) of section 517 of the Superfund Revenue Act of 1986 (26 
U.S.C. 9507 note) is amended by striking ``and'' at the end of 
paragraph (8), by striking the period at the end of paragraph (9) and 
inserting a comma, and by adding at the end the following new 
paragraphs:
            ``(10) 1996, $250,000,000,
            ``(11) 1997, $250,000,000,
            ``(12) 1998, $250,000,000, and
            ``(13) 1999, $250,000,000,''.
    (f) Coordination With Other Provisions.--Paragraph (2) of section 
9507(e) of the Internal Revenue Code of 1986 is amended by striking 
``CERCLA'' and all that follows through ``Acts)'' and inserting 
``CERCLA, the Superfund Amendments and Reauthorization Act of 1986, and 
the Superfund Reform Act of 1995 (or in any amendment made by any of 
such Acts)''.
                                 <all>