Page:United States Statutes at Large Volume 100 Part 3.djvu/148

 100 STAT. 1956

PUBLIC LAW 99-509—OCT. 21, 1986 "(B) the interest accrued on such amounts before such date, over "(2) the amount of such payments taken into account under this subsection for all prior periods." (d) CONFORMING AMENDMENTS.—

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(1) Subsection (e) of section 4611 of such Code (relating to application of taxes), as redesignated by subsection (b), is amended to read as follows: "(e) APPLICATION OF TAXES.— "(1) SUPERFUND RATE.—The Hazardous Substance Superfund

financing rate under subsection (c) shall not apply after September 30, 1985. "(2) O I L SPILL RATE.—

"(A) IN GENERAL.—Except as provided in subparagraph (C), the Oil Spill Liability Trust Fund financing rate under subsection (c) shall apply on and after the commencement date and before January 1, 1992. "(B) COMMENCEMENT DATE.—

"(i) IN GENERAL.—For purposes of this paragraph, the term 'commencement date'means the later of— "(I) February 1, 1987, or "(II) the 1st day of the 1st calendar month beginning more than 30 days after the date of the enactment of qualified authorizing legislation, "(ii) QUALIFIED AUTHORIZING LEGISLATION.—For purposes of clause (i), the term 'qualified authorizing legislation' means any law enacted before September 1, 1987, which is substantially identical to subtitle E of title VI, or subtitle D of title VIII, of H.R. 5300 of the 99th Congress as passed the House of Representatives. "(C) N o TAX I F AMOUNTS COLLECTED EXCEED $300,000,000.— "(i) ESTIMATES BY SECRETARY.—The Secretary as of

Post, p. 1958.

Ante, p. 1774.

the close of each calendar quarter (and at such other u times as the Secretary determines appropriate) shall make an estimate of the amount of taxes which will be >.,! collected under this section (to the extent attributable to the Oil Spill Liability Trust Fund financing rate) 3 during the period beginning on the commencement date and ending on December 31, 1991. "(ii) TERMINATION IF $300,000,000 CREDITED BEFORE JANUARY 1, 1992.—If the Secretary estimates under clause (i) that more than $300,000,000 will be credited to the Fund before January 1, 1992, the Oil Spill Liability Trust Fund financing rate shall not apply after the ., date on which (as estimated by the Secretary) $300,000,000 will be so credited to the Fund." (2) Subsection (c) of section 4661 of such Code (relating to termination of tax on certain chemicals) is amended to read as follows: "(c) TERMINATION.—The tax imposed by this section shall not apply after September 30, 1985." (3) Paragraph (1) of section 221(b) of the Hazardous Substance Response Revenue Act of 1980 (relating to transfers to Response Trust Fund) is amended by adding at the end thereof the following: "In the case of the tax imposed by section 4611, subparagraph (A) shall apply only to so much of such tax as is attributable to

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