“A bill to amend the Internal Revenue Code of 1986 to terminate the Hazardous Substance Superfund financing rate.”
No CRS summary available for this bill.
This section terminates the Hazardous Substance Superfund financing rate—excise taxes on petroleum products and certain chemicals that fund cleanups of hazardous waste sites under the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA)—after December 31, 2025, effective January 1, 2026. It further accelerates termination of the Superfund's authority to make advances to the Leaking Underground Storage Tank (LUST) Trust Fund—which supports cleanup of leaking petroleum tanks—to the date of enactment (from December 31, 2032), effective on enactment, and requires quarterly repayments from the LUST Trust Fund's unobligated amounts until repaid in full (previously, on or before the termination date).