26 U.S.C. § 4612 — Definitions and special rules

Page 2994 TITLE 26—INTERNAL REVENUE CODE § 4612 section [enacting subchapters A and B of this chapter] shall take effect on April 1, 1981.’’ SHORT TITLE For short title of title II of Pub. L. 96–510 as the ‘‘Hazardous Substance Response Revenue Act of 1980’’, see Short Title of 1980 Amendment note, set out under section 1 of this title. § 4612. Definitions and special rules (a) Definitions For purposes of this subchapter— (1) Crude oil The term ‘‘crude oil’’ includes crude oil con- densates and natural gasoline. (2) Domestic crude oil The term ‘‘domestic crude oil’’ means any crude oil produced from a well located in the United States. (3) Petroleum product The term ‘‘petroleum product’’ includes crude oil. (4) United States (A) In general The term ‘‘United States’’ means the 50 States, the District of Columbia, the Com- monwealth of Puerto Rico, any possession of the United States, the Commonwealth of the Northern Mariana Islands, and the Trust Territory of the Pacific Islands. (B) United States includes continental shelf areas The principles of section 638 shall apply for purposes of the term ‘‘United States’’. (C) United States includes foreign trade zones The term ‘‘United States’’ includes any foreign trade zone of the United States. (5) United States refinery The term ‘‘United States refinery’’ means any facility in the United States at which crude oil is refined. (6) Refineries which produce natural gasoline In the case of any United States refinery which produces natural gasoline from natural gas, the gasoline so produced shall be treated as received at such refinery at the time so pro- duced. (7) Premises The term ‘‘premises’’ has the same meaning as when used for purposes of determining gross income from the property under section 613. (8) Barrel The term ‘‘barrel’’ means 42 United States gallons. (9) Fractional part of barrel In the case of a fraction of a barrel, the tax imposed by section 4611 shall be the same frac- tion of the amount of such tax imposed on a whole barrel. (b) Only 1 tax imposed with respect to any prod- uct No tax shall be imposed by section 4611 with respect to any petroleum product if the person who would be liable for such tax establishes that a prior tax imposed by such section has been im- posed with respect to such product. (c) Credit where crude oil returned to pipeline Under regulations prescribed by the Secretary, if an operator of a United States refinery— (1) removes crude oil from a pipeline, and (2) returns a portion of such crude oil into a stream of other crude oil in the same pipeline, there shall be allowed as a credit against the tax imposed by section 4611 to such operator an amount equal to the product of the rate of tax imposed by section 4611 on the crude oil so re- moved by such operator and the number of bar- rels of crude oil returned by such operator to such pipeline. Any crude oil so returned shall be treated for purposes of this subchapter as crude oil on which no tax has been imposed by section 4611. (d) Credit against portion of tax attributable to oil spill rate There shall be allowed as a credit against so much of the tax imposed by section 4611 as is at- tributable to the Oil Spill Liability Trust Fund financing rate for any period an amount equal to the excess of— (1) the sum of— (A) the aggregate amounts paid by the tax- payer before January 1, 1987, into the Deep- water Port Liability Trust Fund and the Off- shore Oil Pollution Compensation Fund, and (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 pe- riods. The preceding sentence shall also apply to amounts paid by the taxpayer into the Trans- Alaska Pipeline Liability Fund to the extent of amounts transferred from such Fund into the Oil Spill Liability Trust Fund. For purposes of this subsection, all taxpayers which would be members of the same affiliated group (as defined in section 1504(a)) if section 1504(a)(2) were ap- plied by substituting ‘‘100 percent’’ for ‘‘80 per- cent’’ shall be treated as 1 taxpayer. (e) Income tax credit for unused payments into Trans-Alaska Pipeline Liability Fund (1) In general For purposes of section 38, the current year business credit shall include the credit deter- mined under this subsection. (2) Determination of credit (A) In general The credit determined under this sub- section for any taxable year is an amount equal to the aggregate credit which would be allowed to the taxpayer under subsection (d) for amounts paid into the Trans-Alaska Pipeline Liability Fund had the Oil Spill Li- ability Trust Fund financing rate not ceased to apply. (B) Limitation (i) In general The amount of the credit determined under this subsection for any taxable year Page 2995 TITLE 26—INTERNAL REVENUE CODE § 4612 with respect to any taxpayer shall not ex- ceed the excess of— (I) the amount determined under clause (ii), over (II) the aggregate amount of the credit determined under this subsection for prior taxable years with respect to such taxpayer. (ii) Overall limitation The amount determined under this clause with respect to any taxpayer is the excess of— (I) the aggregate amount of credit which would have been allowed under subsection (d) to the taxpayer for periods before the termination date specified in section 4611(f)(1), if amounts in the Trans-Alaska Pipeline Liability Fund which are actually transferred into the Oil Spill Liability Fund were transferred on January 1, 1990, and the Oil Spill Li- ability 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 tax- payer. (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 rea- son of this subsection. (B) Trust Fund balance may not be reduced below $1,000,000,000 Transfers may be made under subpara- graph (A) only to the extent that the unobli- gated balance of the Oil Spill Liability Trust Fund exceeds $1,000,000,000. If any transfer is not made by reason of the preceding sen- tence, such transfer shall be made as soon as permitted under such sentence. (4) No carryback No portion of the unused 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 para- graph. (f) Disposition of revenues from Puerto Rico and the Virgin Islands The provisions of subsections (a)(3) and (b)(3) of section 7652 shall not apply to any tax im- posed by section 4611. (Added Pub. L. 96–510, title II, § 211(a), Dec. 11, 1980, 94 Stat. 2798; amended Pub. L. 99–499, title V, § 512(c), Oct. 17, 1986, 100 Stat. 1761; Pub. L. 99–509, title VIII, § 8032(b), Oct. 21, 1986, 100 Stat. 1957; Pub. L. 101–239, title VII, § 7505(c), Dec. 19, 1989, 103 Stat. 2363; Pub. L. 101–380, title IX, § 9002, Aug. 18, 1990, 104 Stat. 574; Pub. L. 102–486, title XIX, § 1922(a), Oct. 24, 1992, 106 Stat. 3028; Pub. L. 115–141, div. U, title IV, § 401(a)(223), Mar. 23, 2018, 132 Stat. 1194.) Editorial Notes REFERENCES IN TEXT The date of the enactment of this paragraph, referred to in subsec. (e)(4), is the date of the enactment of Pub. L. 102–486, which was approved Oct. 24, 1992. CODIFICATION Amendments by Pub. L. 99–509, title VIII, § 8031(c), Oct. 21, 1986, 100 Stat. 1955, to subsecs. (c) and (d) of this section were not executed to text pursuant to Pub. L. 99–509, title VIII, § 8031(e)(2), which provided that the amendments made by section 8031 shall not take effect if the Superfund Amendments and Reauthorization Act of 1986 is enacted. The Superfund Amendments and Re- authorization Act of 1986 was enacted as Pub. L. 99–499, approved Oct. 17, 1986. AMENDMENTS 2018—Subsec. (e)(2)(B)(ii)(I). Pub. L. 115–141 sub- stituted ‘‘were transferred’’ for ‘‘were tranferred’’. 1992—Subsecs. (e), (f). Pub. L. 102–486 added subsec. (e) and redesignated former subsec. (e) as (f). 1990—Subsec. (d). Pub. L. 101–380 substituted at end ‘‘For purposes of this subsection, all taxpayers which would be members of the same affiliated group (as de- fined in section 1504(a)) if section 1504(a)(2) were applied by substituting ‘100 percent’ for ‘80 percent’ shall be treated as 1 taxpayer.’’ for ‘‘Amounts may be trans- ferred from the Trans-Alaska Pipeline Liability Fund into the Oil Spill Liability Trust Fund only to the ex- tent the administrators of the Trans-Alaska Pipeline Liability Fund determine that such amounts are not needed to satisfy claims against such Fund.’’ 1989—Subsec. (d). Pub. L. 101–239 inserted at end ‘‘The preceding sentence shall also apply to amounts paid by the taxpayer into the Trans-Alaska Pipeline Liability Fund to the extent of amounts transferred from such Fund into the Oil Spill Liability Trust Fund. Amounts may be transferred from the Trans-Alaska Pipeline Li- ability Fund into the Oil Spill Liability Trust Fund only to the extent the administrators of the Trans- Alaska Pipeline Liability Fund determine that such amounts are not needed to satisfy claims against such Fund.’’ 1986—Subsec. (c). Pub. L. 99–499 added subsec. (c) and redesignated former subsec. (c) as (d). Subsec. (d). Pub. L. 99–509 added subsec. (d) and redes- ignated former subsec. (d) as (e). Pub. L. 99–499 redesignated former subsec. (c) as (d). Subsec. (e). Pub. L. 99–509 redesignated former subsec. (d) as (e). Statutory Notes and Related Subsidiaries EFFECTIVE DATE OF 1992 AMENDMENT Pub. L. 102–486, title XIX, § 1922(b), Oct. 24, 1992, 106 Stat. 3029, provided that: ‘‘The amendments made by this section [amending this section] shall apply to tax- able years beginning after the date of the enactment of this Act [Oct. 24, 1992].’’ EFFECTIVE DATE OF 1990 AMENDMENT Amendment by Pub. L. 101–380 applicable to incidents occurring after Aug. 18, 1990, see section 1020 of Pub. L. 101–380, set out as an Effective Date note under section 2701 of Title 33, Navigation and Navigable Waters. EFFECTIVE DATE OF 1986 AMENDMENTS Amendment by Pub. L. 99–509 effective on commence- ment date as defined in section 4611(f)(2), see section 8032(d) of Pub. L. 99–509, set out as a note under section 4611 of this title. Amendment by Pub. L. 99–499 effective Jan. 1, 1987, see section 512(d) of Pub. L. 99–499, set out as a note under section 4611 of this title. Page 2996 TITLE 26—INTERNAL REVENUE CODE § 4661 Executive Documents TERMINATION OF TRUST TERRITORY OF THE PACIFIC ISLANDS For termination of Trust Territory of the Pacific Is- lands, see note set out preceding section 1681 of Title 48, Territories and Insular Possessions. Subchapter B—Tax on Certain Chemicals Sec. 4661. Imposition of tax. 4662. Definitions and special rules. § 4661. Imposition of tax (a) General rule There is hereby imposed a tax on any taxable chemical sold by the manufacturer, producer, or importer thereof. (b) Amount of Tax The amount of tax imposed by subsection (a) shall be determined in accordance with the fol- lowing table: In the case of: The tax is the following amount per ton: Acetylene .......................................... $9.74 Benzene ............................................. 9.74 Butane ............................................... 9.74 Butylene ............................................ 9.74 Butadiene .......................................... 9.74 Ethylene ............................................ 9.74 Methane ............................................. 6.88 Napthalene ........................................ 9.74 Propylene .......................................... 9.74 Toluene .............................................. 9.74 Xylene ............................................... 9.74 Ammonia ........................................... 5.28 Antimony .......................................... 8.90 Antimony trioxide ............................. 7.50 Arsenic .............................................. 8.90 Arsenic trioxide ................................. 6.82 Barium sulfide ................................... 4.60 Bromine ............................................. 8.90 Cadmium ........................................... 8.90 Chlorine ............................................. 5.40 Chromium .......................................... 8.90 Chromite ........................................... 3.04 Potassium dichromate ...................... 3.38 Sodium dichromate ........................... 3.74 Cobalt ................................................ 8.90 Cupric sulfate .................................... 3.74 Cupric oxide ....................................... 7.18 Cuprous oxide .................................... 7.94 Hydrochloric acid .............................. 0.58 Hydrogen fluoride .............................. 8.46 Lead oxide ......................................... 8.28 Mercury ............................................. 8.90 Nickel ................................................ 8.90 Phosphorus ........................................ 8.90 Stannous chloride ............................. 5.70 Stannic chloride ................................ 4.24 Zinc chloride ..................................... 4.44 Zinc sulfate ....................................... 3.80 Potassium hydroxide ......................... 0.44 Sodium hydroxide ............................. 0.56 Sulfuric acid ...................................... 0.52 Nitric acid ......................................... 0.48. (c) Termination No tax shall be imposed by this section after December 31, 2031. (Added Pub. L. 96–510, title II, § 211(a), Dec. 11, 1980, 94 Stat. 2798; amended Pub. L. 99–499, title V, § 513(a), Oct. 17, 1986, 100 Stat. 1761; Pub. L. 99–509, title VIII, § 8032(c)(3), Oct. 21, 1986, 100 Stat. 1958; Pub. L. 117–58, div. H, title II, § 80201(a)(1), (b)(1), Nov. 15, 2021, 135 Stat. 1328, 1329.) Editorial Notes CODIFICATION Amendment by Pub. L. 99–509, title VIII, § 8031(d)(2), Oct. 21, 1986, 100 Stat. 1956, to subsec. (c) of this section was not executed to text pursuant to Pub. L. 99–509, title VIII, § 8031(e)(2), which provided that the amend- ments made by section 8031 shall not take effect if the Superfund Amendments and Reauthorization Act of 1986 is enacted. The Superfund Amendments and Reau- thorization Act of 1986 was enacted as Pub. L. 99–499, approved Oct. 17, 1986. AMENDMENTS 2021—Subsec. (b). Pub. L. 117–58, § 80201(b)(1), amended subsec. (b) generally. Prior to amendment, subsec. (b) set out the amount of tax on certain taxable chemicals. Subsec. (c). Pub. L. 117–58, § 80201(a)(1), amended sub- sec. (c) generally. Prior to amendment, text read as fol- lows: ‘‘No tax shall be imposed under this section dur- ing any period during which the Hazardous Substance Superfund financing rate under section 4611 does not apply.’’ 1986—Subsec. (b). Pub. L. 99–499 inserted at end ‘‘For periods before 1992, the item relating to xylene in the preceding table shall be applied by substituting ‘10.13’ for ‘4.87’.’’ Subsec. (c). Pub. L. 99–509 substituted ‘‘the Hazardous Substance Superfund financing rate under section 4611 does not apply’’ for ‘‘no tax is imposed under section 4611(a)’’. Statutory Notes and Related Subsidiaries EFFECTIVE DATE OF 2021 AMENDMENT Pub. L. 117–58, div. H, title II, § 80201(d), Nov. 15, 2021, 135 Stat. 1330, provided that: ‘‘The amendments made by this section [amending this section and sections 4671 and 4672 of this title] shall take effect on July 1, 2022.’’ EFFECTIVE DATE OF 1986 AMENDMENTS Amendment by Pub. L. 99–509 effective on commence- ment date as defined in former section 4611(f)(2), see section 8032(d) of Pub. L. 99–509, set out as a note under section 4611 of this title. Pub. L. 99–499, title V, § 513(h), Oct. 17, 1986, 100 Stat. 1765, as amended by Pub. L. 99–514, § 2, Oct. 22, 1986, 100 Stat. 2095, provided that: ‘‘(1) IN GENERAL.—Except as otherwise provided in this subsection, the amendments made by this section [amending this section and section 4662 of this title] shall take effect on January 1, 1987. ‘‘(2) REPEAL OF TAX ON XYLENE FOR PERIODS BEFORE OCTOBER 1, 1985.— ‘‘(A) REFUND OF TAX PREVIOUSLY IMPOSED.— ‘‘(i) IN GENERAL.—In the case of any tax imposed by section 4661 of the Internal Revenue Code of 1986 [formerly I.R.C. 1954] on the sale or use of xylene before October 1, 1985, such tax (including interest, additions to tax, and additional amounts) shall not be assessed, and if assessed, the assessment shall be abated, and if collected shall be credited or re- funded (with interest) as an overpayment. ‘‘(ii) CONDITION TO ALLOWANCE.—Clause (i) shall not apply to a sale of xylene unless the person who (but for clause (i)) would be liable for the tax im- posed by section 4661 on such sale meets require- ments similar to the requirements of paragraph (1) of section 6416(a) of such Code. For purposes of the preceding sentence, subparagraph (A) of section 6416(a)(1) of such Code shall be applied without re- gard to the material preceding ‘has not collected’.