This bill aims to terminate the Hazardous Substance Superfund financing rate , which is a specific tax contributing to the Superfund. It amends the Internal Revenue Code of 1986 to ensure that this financing rate will no longer be applied after December 31, 2025. Additionally, the legislation modifies the authority for advances to the Superfund. It terminates the ability for future advances upon the bill's enactment, replacing the previous expiration date of December 31, 2032. The bill also clarifies that repayments from the Superfund will be made on a quarterly basis from unobligated amounts until fully repaid.
This bill aims to terminate the Hazardous Substance Superfund financing rate , which is a specific tax contributing to the Superfund. It amends the Internal Revenue Code of 1986 to ensure that this financing rate will no longer be applied after December 31, 2025. Additionally, the legislation modifies the authority for advances to the Superfund. It terminates the ability for future advances upon the bill's enactment, replacing the previous expiration date of December 31, 2032. The bill also clarifies that repayments from the Superfund will be made on a quarterly basis from unobligated amounts until fully repaid.