II 111th CONGRESS 2d Session S. 3125 IN THE SENATE OF THE UNITED STATES March 16, 2010 Mr. Nelson of Florida 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.

1.

Short title

This Act may be cited as the Superfund Polluter Pays Act.

2.

Extension of Superfund excise tax

(a)

In general

(1)

Extension

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. . (2)

Modification of Hazardous Substance Superfund financing rate

Section 4611(c)(2)(A) of such Code is amended by striking 9.7 cents and inserting 17.0 cents. (3)

Inflation adjustment

Section 4611(c) of such Code is amended by adding at the end the following new paragraph: (3)

Adjustment for inflation

(A)

In general

In the case of any taxable year beginning after December 31, 2010, the amount under paragraph (2)(A) shall be increased by an amount equal to— (i)such amount, multiplied by (ii)the cost-of-living adjustment determined under section 1(f)(3) for the calendar year in which such taxable year begins by substituting calendar year 2009 for calendar year 1992 in subparagraph (B) thereof. (B)

Rounding

If any increase determined under this paragraph is not a multiple of 0.1 cents, such increase shall be rounded to the next lowest multiple of 0.1 cents. . (b)

Modification of rate of tax on certain chemicals

Section 4661(b) of the Internal Revenue Code of 1986 is amended to read as follows: (b)

Amount of tax

(1)

In general

The amount of tax imposed by subsection (a) shall be determined in accordance with the following table: In the case of:The tax is the following amount per ton Acetylene$12.81 Benzene12.81 Butane12.81 Butylene12.81 Butadiene12.81 Ethylene12.81 Methane9.05 Napthalene12.81 Propylene12.81 Toluene12.81 Xylene12.81 Ammonia6.94 Antimony11.70 Antimony trioxide9.86 Arsenic11.70 Arsenic trioxide8.97 Barium sulfide6.05 Bromine11.70 Cadmium11.70 Chlorine7.10 Chromium11.70 Chromite4.00 Potassium dichromate4.44 Sodium dichromate4.92 Cobalt11.70 Cupric sulfate4.92 Cupric oxide9.44 Cuprous oxide10.44 Hydrochloric acid0.76 Hydrogen fluoride11.12 Lead oxide10.89 Mercury11.70 Nickel11.70 Phosphorus11.70 Stannous chloride7.50 Stannic chloride5.58 Zinc chloride5.84 Zinc sulfate5.00 Potassium hydroxide0.58 Sodium hydroxide0.74 Sulfuric acid0.68 Nitric acid0.63. (2)

Adjustment for inflation

(A)

In general

In the case of any taxable year beginning after December 31, 2010, each of the dollar amounts in the table in paragraph (1) shall be increased by an amount equal to— (i)such amount, multiplied by (ii)the cost-of-living adjustment determined under section 1(f)(3) for the calendar year in which such taxable year begins by substituting calendar year 2009 for calendar year 1992 in subparagraph (B) thereof. (B)

Rounding

If any increase determined under this paragraph is not a multiple of $0.01, such increase shall be rounded to the next lowest multiple of $0.01. . (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

The amendments made by this section shall take effect on the date of the enactment of this Act.