A bill to amend the Internal Revenue Code of 1986 to reinstate the financing for the Hazardous Substance Superfund, and for other purposes.
Superfund Polluter Pays Restoration Act of 2015
This bill amends the Internal Revenue Code to: (1) reinstate the Hazardous Substance Superfund financing rate beginning 60 days after enactment of this Act; (2) increase such rate from 9.7 cents to 15.8 cents per barrel of crude oil; (3) adjust for inflation in taxable years beginning after 2016 the $3.5 billion Superfund threshold after which no tax is imposed; (4) reinstate and increase the rates of tax on taxable chemicals; and (5) modify the definition of "crude oil" to include any bitumen or bituminous mixture, any oil derived from such mixture (including oil derived from tar sands), and any oil derived form kerogen-bearing sources (including oil derived from oil shale).
The bill amends the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 to allow the use of the Superfund for environmental remediation without further appropriation.
Sponsor introductory remarks on measure. (CR H160)
Referred to the Subcommittee on Environment and the Economy.
Read twice and referred to the Committee on Finance.
Introduced in Senate
Read twice and referred to the Committee on Finance.
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