Regulatory Relief and Job Preservation Act of 1996

TABLE OF CONTENTS:

Title I: Amendments of the Clean Air Act

Title II: Environmental Self-Audits

Title III: Regulation of Chlorine Compound Production

Title IV: Amendment of the Solid Waste Disposal Act

Title V: Amendment of the Internal Revenue Code of 1986

Regulatory Relief and Job Preservation Act of 1996 - Title I: Amendments of the Clean Air Act - Amends the Clean Air Act to repeal the authority of the Administrator of the Environmental Protection Agency (EPA) to require enhanced monitoring and submission of compliance certifications.

(Sec. 102) Prohibits the Administrator from specifying a minimum oxygen content for reformulated gasoline and invalidates any such regulation previously promulgated.

(Sec. 103) Approves the use of a State Operating Permits Program in lieu of EPA programs even if a final decision on approval of the State program is not yet received.

(Sec. 104) Exempts commercial fire suppression equipment from prohibitions on the sale or distribution of products containing class II ozone-depleting substances. Repeals certain requirements for labeling of products containing or manufactured with ozone-depleting substances.

(Sec. 105) Requires the Administrator, with respect to each emissions standard for hazardous air pollutants, to provide a cost-benefit analysis and prohibits establishment of any standard at a level at which incremental compliance costs exceed incremental benefits.

(Sec. 106) Revises State enhanced vehicle inspection and maintenance program standards for serious ozone nonattainment areas. Requires rescission of EPA regulations and reissuance of rules to conform with this Act.

(Sec. 107) Delays the primary standard attainment date for moderate ozone nonattainment areas.

(Sec. 108) Provides standards for interpretation of ozone monitor readings used in determining excessive ozone amounts.

(Sec. 109) Provides a formula for establishment of a baseline trend to be used in redesignation of areas as attainment or nonattainment.

Title II: Environmental Self-Audits - Provides rules making privileged, and excluding for evidentiary purposes, information from voluntary environmental self-audits.

Title III: Regulation of Chlorine Compound Production - Precludes the Administrator from prohibiting the manufacture, use, or distribution of chlorine compounds absent specific authorization by Congress after submission of a proposed regulation.

Title IV: Amendment of the Solid Waste Disposal Act - Amends the Solid Waste Disposal Act to exclude feedstock used in a manufacturing process from the definition of hazardous waste, with exceptions.

Title V: Amendment of the Internal Revenue Code of 1986 - Amends the Internal Revenue Code to apply provisions allowing the deduction of intangible oil and gas drilling and development costs to certain geological and geophysical costs.

(Sec. 502) Revises marginal production standards, for purposes of the oil and gas percentage depletion limitations, to increase the barrel ceiling on production from stripper wells that produce water at a specified rate. Establishes a tax credit for production from marginal oil and gas wells (as defined in this Act).

(Sec. 504) Replaces the annually increasing base tax amount used in calculating the excise tax on ozone-depleting chemicals with one set amount.

(Sec. 505) Reduces the rate of tax on certain reformulated gasoline. Requires the Secretary of the Treasury to provide a specified credit or refund of tax on gasoline used to produce such reformulated gasoline.