 H.R.1887
Superfund Equity and Megasite Remediation Act of 2007
To amend the Internal Revenue Code of 1986 to extend the financing for Superfund for purposes of cleanup activities with respect to those Superfund sites for which removal and remedial action is estimated to cost more than $50 million, and for other purposes.
 5 Total Points
Summary
Superfund Equity and Megasite Remediation Act of 2007 - Amends the Internal Revenue Code to reinstate the Hazardous Substance Superfund financing rate and the corporate environmental income tax, except in certain calendar quarters in which the unobligated balance in the Hazardous Substance Superfund exceeds $5.7 billion. Provides for a 50% increase in the Hazardous Substance Superfund financing rate and the corporate environmental income tax between 2008 and 2013 to fund response actions at Superfund sites estimated to cost more than $50 million (megasites) or which pose high health risks. Establishes the Megasites and High Risk Sites Cleanup Account in the Hazardous Substance Superfund. Transfers to such Account revenues resulting from the temporary 50% increase in the Hazardous Substance Superfund financing rate and the corporate environmental income tax. Requires the Administrator of the Environmental Protection Agency (EPA) to report to Congress annually on the progress of response actions funded by the Hazardous Substance Superfund. What do you think?
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Legislation Detail
 Viewed 165 times.
Legislation Slant
Latest Action:
Referred to House subcommittee. Status: Referred to the Subcommittee on Environment and Hazardous Materials.
This action occurred on Wednesday, April 18, 2007 and earned 5 points.
Legislative Progress
Introduced in the House on April 17, 2007
Related Bills
S.1179
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