4-YEAR EXTENSION OF HAZARDOUS SUBSTANCE SUPERFUND.

SEC. 11231. 4-YEAR EXTENSION OF HAZARDOUS SUBSTANCE SUPERFUND. (a) Extension of Taxes.— (1) The following provisions of the Internal Revenue Code of 1986 are each amended by striking “January 1, 1992” and inserting “January 1, 1996”: (A) Section 59A(e)(1) (relating to application of environmental tax). 104 STAT. 1388–445 (B) Paragraphs (1) and (3) of section 4611(e) (relating to application of Hazardous Substance Superfund financing rate). (2) Paragraph (2) of section 4611(e) of such Code is amended— (A) by striking “1989” and inserting “1993”, (B) by striking “1990” each place it appears and inserting “1994”, and (C) by striking “1991” each place it appears and inserting “1995”. (b) Increase in Aggregate Tax Which May Be Collected.— Paragraph (3) of section 4611(e) of such Code is amended by striking “$6,650,000,000” each place it appears and inserting “$11,970,000,000” and by striking “December 31, 1991” and inserting “December 31, 1995”. (c) Extension of Repayment Deadline for Superfund Borrowing.— Subparagraph (B) of section 9507(d)(3) is amended by striking “December 31, 1991” and inserting “December 31, 1995”. (d) Extension of Authorization of Appropriations to Trust Fund.— Subsection (b) of section 517 of the Superfund Revenue Act of 1986 (26 U.S.C. 9507 note) is amended by striking “and” at the end of paragraph (4), by striking the period at the end of paragraph (5) and inserting “, and”, and by adding at the end thereof the following new paragraphs: “(6) 1992, $250,000,000, “(7) 1993, $250,000,000, “(8) 1994, $250,000,000, and “(9) 1995, $250,000,000.”