Page:United States Statutes at Large Volume 94 Part 3.djvu/161

 PUBLIC LAW 96-510—DEC. 11, 1980

94 STAT. 2805

TITLE III—MISCELLANEOUS PROVISIONS REPORTS AND STUDIES

SEC. 301. (a)(1) The President shall submit to the Congress, within 42 USC 9651. four years after enactment of this Act, a comprehensive report on experience with the implementation of this Act, including, but not limited to— (A) the extent to which the Act and Fund are effective in enabling Government to respond to and mitigate the effects of releases of hazardous substances; (B) a summary of past receipts and disbursements from the Fund; (C) a projection of any future funding needs remaining after the expiration of authority to collect taxes, and of the threat to public health, welfare, and the environment posed by the projected releases which create any such needs; (D) the record and experience of the Fund in recovering Fund disbursements from liable parties; (E) the record of State participation in the system of response, liability, and compensation established by this Act; (F) the impact of the taxes imposed by title II of this Act on the Nation's balance of trade with other countries; (G) an assessment of the feasibility and desirability of a schedule of taxes which would take into account one or more of the following: the likelihood of a release of a hazardous substance, the degree of hazard and risk of harm to public health, welfare, and the environment resulting from any such release, incentives to proper handling, recycling, incineration, and neutralization of hazardous wastes, and disincentives to improper or illegal handling or disposal of hazardous materials, administrative and reporting burdens on Government and industry, and the extent to which the tax burden falls on the substances and parties which create the problems addressed by this Act. In preparing the report, the President shall consult with appropriate Federal, State, and local agencies, affected industries and claimants, and such other interested parties as he may find useful. Based upon the analyses and consultation required by this subsection, the President shall also include in the report any recommendations for legislative changes he may deem necessary for the better effectuation of the purposes of this Act, including but not limited to recommendations concerning authorization levels, taxes. State participation, liability and liability limits, and financial responsibility provisions for the Response Trust Fund and the Post-closure Liability Trust Fund; (H) an exemption from or an increase in the substances or the amount of taxes imposed by section 4661 of the Internal Revenue Code of 1954 for copper, lead, and zinc oxide, and for feedstocks Ante, p. 2798. when used in the manufacture and production of fertilizers, based upon the expenditure experience of the Response Trust Fund; (I) the economic impact of taxing coal-derived substances and recycled metals. (2) The Administrator of the Environmental Protection Agency (in consultation with the Secretary of the Treasury) shall submit to the Congress (i) within four years after enactment of this Act, a report identifying additional wastes designated by rule as hazardous after the effective date of this Act and pursuant to section 3001 of the Solid '^

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