Page:United States Statutes at Large Volume 94 Part 3.djvu/157

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PUBLIC LAW 96-000—MMMM. DD, 1980

PUBLIC LAW 96-510—DEC. 11, 1980

94 STAT. 2801

"(B) any person uses such substance, or sells such substance for use, as a qualified substance, then an amount equal to the excess of the tax so paid over the tax determined with regard to subsection (b)(2) shall be allowed as a credit or refund (without interest) to such person in the same manner as if it were an overpayment of tax imposed by this section, "(e) DISPOSITION OF REVENUES FROM PUERTO RICO AND THE VIRGIN

ISLANDS.—The provisions of subsections (a)(3) and (b)(3) of section 7652 shall not apply to any tax imposed by section 4661.". 26 USC 7652. (b) CLERICAL AMENDMENT.—The table of chapters for subtitle D is ^"^^' P ^^^^• amended by inserting after the item relating to chapter 37 the following new item: "CHAPTER 38. Environmental taxes.". (c) EFFECTIVE DATE.—The amendments made by this section shall

take effect on April 1, 1981.

26 USC 4611 note.

Subtitle B—Establishment of Hazardous Substance Response Trust Fund SEC. 221. ESTABLISHMENT OF HAZARDOUS SUBSTANCE RESPONSE TRUST 42 USC 9631. FUND.

(a) CREATION OF TRUST FUND.—There is established in the Treasury of the United States a trust fund to be known as the "Hazardous Substance Response Trust Fund" (hereinafter in this subtitle referred to as the "Response Trust Fund"), consisting of such amounts as may be appropriated or transferred to such Trust Fund as provided in this section. (b) TRANSFERS TO RESPONSE TRUST FUND.— (1) AMOUNTS EQUIVALENT TO CERTAIN TAXES, ETC.—There are

hereby appropriated, out of any money in the Treasury not otherwise appropriated, to the Response Trust Fund amounts determined by the Secretary of the Treasury (hereinafter in this subtitle referred to as the "Secretary") to be equivalent to— (A) the amounts received in the Treasury under section 4611 or 4661 of the Internal Revenue Code of 1954, Ante, pp. 2797, (B) the amounts recovered on behalf of the Response Trust ^^^^ Fund under this Act, (C) all moneys recovered or collected under section 311(b)(6)(B) of the Clean Water Act, 33 USC i32i. (D) penalties assessed under title I of this Act, and (E) punitive damages under section 107(c)(8) of this Act, (2) AUTHORIZATION FOR APPROPRIATIONS.—There is authorized to be appropriated to the Emergency Response Trust Fund for fiscal year— (A) 1981, $44,000,000, (B) 1982, $44,000,000, (C) 1983, $44,000,000, (D) 1984, $44,000,000, and (E) 1985, $44,000,000, plus an amount equal to so much of the aggregate amount authorized to be appropriated under subparagraphs (A), (B), (C), and (D) as has not been appropriated before October 1, 1984. (3) TRANSFER OF FUNDS.—There shall be transferred to the Response Trust Fund—