Page:United States Statutes at Large Volume 94 Part 3.djvu/159

 PUBLIC LAW 96-510—DEC. 11, 1980

94 STAT. 2803

document of the session of the Congress to which the report is made. (2) INVESTMENT.—It shall be the duty of the Secretary to invest such portion of such Trust Fund as is not, in his judgment, required to meet current withdrawals. Such investments shall be in public debt securities with maturities suitable for the needs of such Trust Fund and bearing interest at rates determined by the Secretary, taking into consideration current market yields on outstanding marketable obligations of the United States of comparable maturities. The income on such investments shall be credited to and form a part of such Trust Fund, (c) AUTHORITY TO BORROW.—

(1) IN GENERAL.—There are authorized to be appropriated to Appropriation the Response Trust Fund, as repayable advances, such sums as authorization. may be necessary to carry out the purposes of such Trust Fund. (2) LIMITATIONS ON ADVANCES TO RESPONSE TRUST FUND.— (A) AGGREGATE ADVANCES.—The maximum aggregate

amount of repayable advances to the Response Trust Fund which is outstanding at any one time shall not exceed an amount which the Secretary estimates will be equal to the sum of the amounts which will be appropriated or transferred to such Trust Fund under paragraph (1)(A) of section 221(b) of this Act for the following 12 months, and (B) ADVANCES FOR PAYMENT OF RESPONSE COSTS.—No

amount may be advanced after March 31, 1983, to the Response Trust Fund for the purpose of paying response costs described in section 111(a)(1), (2), or (4), unless such costs are incurred incident to any spill the effects of which the Secretary determines to be catastrophic. (C) ADVANCES FOR OTHER COSTS.—The maximum aggregate amount advanced to the Response Trust Fund which is outstanding at any one time for the purpose of paying costs other than costs described in section 111(a)(1), (2), or (4) shall not exceed one-third of the amount of the estimate made under subparagraph (A). (D) FINAL REPAYMENT.—No advance shall be made to the Response Trust Fund after September 30, 1985, and all advances to such Fund shall be repaid on or before such date. (3) REPAYMENT OF ADVANCES.—Advances made pursuant to this subsection shall be repaid, and interest on such advances shall be paid, to the general fund of the Treasury when the Secretary determines that moneys are available for such purposes in the Trust Fund to which the advance was made. Such interest shall be at rates computed in the same manner as provided in subsection (b) and shall be compounded annually.

Subtitle C—Post-Closure Tax and Trust Fund SEC. 231. IMPOSITION OF TAX.

(a) IN GENERAL.—Chapter 38, as added by section 211, is amended by adding at the end thereof the following new subchapter:

"Subchapter C—Tax on Hazardous Wastes "Sec. 4681. Imposition of tax. "Sec. 4682. Definitions and special rules.

�