Page:United States Statutes at Large Volume 100 Part 2.djvu/674

 100 STAT. 1776

PUBLIC LAW 99-499—OCT. 17, 1986

hri:



-

"(1) IN GENERAL.—The r a t e of the tax imposed by this section is the sum of— "(A) the Highway Trust F u n d financing r a t e, and "(B) the Leaking Under g r o u n d Storage T a n k T r u s t F u n d financing rate. L*' "(2) RATES.—For purposes of paragraph (1)— "(A) the Highway T r u s t F u n d financing r a t e is 9 cents a au;-^ gallon, and "(B) the Leaking Under g r o u n d Storage T a n k T r u s t F u n d financing r a t e is 0.1 cents a gallon. "(e) TERMINATION. — "(1) H I G H W A Y TRUST F U N D F I N A N C I N G RATE.—On and

after

- October 1, 1988, the Highway T r u s t F u n d financing r a t e under subsection (d)(2)(A) shall not apply. 0

"(2) L E A K I N G UNDERGROUND FINANCING RATE.—

^ i' ' '

STORAGE

TRUST

FUND

"(A) IN GENERAL.—The Leaking Under g r o u n d Storage T a n k Trust F u n d financing r a t e under subsection (d)(2)(B) shall not apply after the earlier of— "(i) December 31, 1991, or "(ii) the last day of the termination month. "(B) TERMINATION M O N T H. — For

- f '••' ->'• • '>• .?;' • Infra; 26 USC 4042. Post, p. 1777. ''

TANK

•

purposes

of

subpara-

g r a p h (A), the termination month is the 1st month a s of the close of which the Secretary estimates that the n e t revenues from the taxes imposed by this section (to the extent a t t r i b u t a b l e to the Leaking Under g r o u n d Storage T a n k T r u s t F u n d financing r a t e under subsection (d)(2)(B)), section 4041(d), and section 4042 (to the e x t e n t a t t r i b u t a b l e to the Leaking Under g r o u n d Storage T a n k T r u s t F u n d financing r a t e under section 4042(b)) a r e a t least $500,000,000. "(C) N E T REVENUES.—For purposes of subparagraph (B), the term ' n e t revenues' means the excess of gross revenues over a m o u n t s payable by reason of section 9508(c)(2) (relating to transfer from Leaking Under g r o u n d Storage T a n k T r u s t F u n d for certain r e payments and credits)." (iii) T E C H N I C A L AMENDMENTS.—Subsection (c) of sec-

• •'^'

tion 4081 of such Code, a s amended by the Tax Reform Act of 1986, is amended— (I) by striking o u t "subsection (a)" in paragraph (1) and inserting in lieu thereof "subsection (d)", ' ! and '•'- • (II) by striking out " a r a t e " in paragraph (2) and inserting in lieu thereof " a Highway T r u s t F u n d ' financing rate". (2) DIESEL A N D SPECIAL MOTOR FUELS; FUELS USED I N AVIA-

i > TION.—Section 4041 of such Code (relating to tax on special fuels) is amended by redesignating subsection (d) a s subsection (e) and by inserting after subsection (c) the following n e w subsection: "(d) ADDITIONAL T A X E S TO F U N D L E A K I N G U N D E R G R O U N D STORAGE TANK TRUST F U N D. — "(1) LIQUIDS OTHER THAN GASOLINE, ETC., USED I N MOTOR VE-

V" j

HiCLES, MOTORBOATS, OR TRAINS.—In addition to the taxes imposed by subsection (a), the r e is hereby imposed a tax of 0.1 cents a gallon on benzol, benzene, n a p h t h a, casing head and n a t u r a l gasoline, or any other liquid (other than kerosene, gas

�