summary
Introduced
In Committee
Crossed Over
Passed
Dead
Introduced Session
112th Congress
Bill Summary
Superfund Reinvestment Act - Amends the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 (CERCLA) to authorize the use of amounts in the Hazardous Substance Superfund for environmental cleanup costs authorized by such Act. Provides that receipts and disbursements of the Hazardous Substance Superfund: (1) shall not be counted as new budget authority, outlays, receipts, or deficit or surplus, for purposes of the President's budget, the congressional budget, the Balanced Budget and Emergency Deficit Control Act of 1985, or the Statutory Pay-As-You-Go Act of 2010; (2) shall be exempt from any general budget limitations; and (3) shall be available only for the purposes specified in CERCLA. Amends the Internal Revenue Code to reinstate until December 31, 2018, the Hazardous Substance Superfund financing rate and the corporate environmental income tax and extend the borrowing authority of the Superfund through 2021.
AI Summary
This bill, the Superfund Reinvestment Act, aims to ensure that funds collected for the Hazardous Substance Superfund are used for their intended purpose of cleaning up hazardous substances, as authorized by the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 (CERCLA). It clarifies that money in the Superfund will be directly available for cleanup costs without needing separate appropriations, and that its financial transactions will not be counted towards federal budget totals or deficit calculations, nor will they be subject to general spending limits. Additionally, the bill reinstates certain taxes, specifically the Hazardous Substance Superfund financing rate and the corporate environmental income tax, until December 31, 2018, and extends the Superfund's borrowing authority through 2021, providing a more stable funding mechanism for environmental cleanups.
Committee Categories
Agriculture and Natural Resources, Budget and Finance
Sponsors (16)
Timothy Bishop (D),
Earl Blumenauer (D),
Lois Capps (D),
Russ Carnahan (D),
Gerry Connolly (D),
Anna Eshoo (D),
Raúl Grijalva (D),
Maurice Hinchey (D),
Mazie Hirono (D),
Rush Holt (D),
Barbara Lee (D),
Jim McDermott (D),
Jerry Nadler (D),
Frank Pallone (D),
Bill Pascrell (D),
David Wu (D),
Last Action
Referred to the Subcommittee on Environment and the Economy. (on 04/25/2011)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/112th-congress/house-bill/1596/all-info |
| BillText | http://gpo.gov/fdsys/pkg/BILLS-112hr1596ih/pdf/BILLS-112hr1596ih.pdf |
| Bill | http://gpo.gov/fdsys/pkg/BILLS-112hr1596ih/pdf/BILLS-112hr1596ih.pdf.pdf |
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