Page:United States Statutes at Large Volume 106 Part 4.djvu/293

 PUBLIC LAW 102-486—OCT. 24, 1992 106 STAT. 3029 the Oil Spill Liability Trust Fund financing rate did not terminate before such termination date, over ''(II) the aggregate amount of the credit allowed under subsection (d) to the taxpayer. "(3) COST OF INCOME TAX CREDIT BORNE BY TRUST FUND. — "(A) IN GENERAL. —The Secretary shall from time to time transfer from the Oil Spill Liability Trust Fund to the general fund of the Treasury amounts equal to the credits allowed by reason of this subsection. "(B) TRUST FUND BALANCE MAY NOT BE REDUCED BELOW $1,000,000,000.—Transfers may be made under subparagraph (A) only to the extent that the unobligated balance of the Oil Spill Liabihty Trust Fund exceeds $1,000,000,000. If any transfer is not made by reason of the preceding sentence, such transfer shall be made as soon as permitted under such sentence. " (4) No CARRYBACK.—No portion of the imused business credit for any taxable year which is attributable to the credit determined under this subsection may be carried to a taxable year beginning on or before the date of the enactment of this paragraph.". (b) EFFECTIVE DATE.—The amendments made by this section 26 USC 4612 shall apply to taxable years beginning after the date of the enactment of this Act. note. Subtitle B—Revenue Increases, Etc. SEC. 1931. INCREASED BASE TAX AMOUNT ON OZONE-DEPLETING CHEMICALS. (a) IN GENERAL.— Subparagraph (B) of section 4681(b)(1) (relating to amount of tax) is amended to read as follows: "(B) BASE TAX AMOUNT.—The base tax amount for purposes of subparagraph (A) with respect to any sale or use during a calendar year before 1996 with respect to any ozone-depleting chemical is the amount determined under the following table for such calendar year: Base tax " Calendar year: amount: 1993 3.35 1994 4.35 1995 5.35." (b) RATES RETAINED FOR CHEMICALS USED IN RIGID FOAM INSULATION. —The table in subparagraph (B) of section 4682(g)(2) (relating to chemicals used in rigid foam insulation) is amended by striking "10" and inserting "7.46". (c) FLOOR STOCKS. —Subparagraph (C) of section 4682(h)(2) (relating to tax-increase dates) is amended by striking "of 1991, 1992, 1993, and 1994" and inserting "of any calendar year after 1991". (d) EFFECTIVE DATE. — The amendments made by this section 26 USC 4681 shall apply to taxable chemicals sold or used on or after January 1, 1993. note.

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