State Of New York et al v. Mnuchin et al

Filing 47

DECLARATION of Owen T. Conroy in Support re: 44 CROSS MOTION for Summary Judgment .. Document filed by State Of Connecticut, State Of New York, State of Maryland, State of New Jersey. (Attachments: # 1 Exhibit 1, # 2 Exhibit 2, # 3 Exhibit 3, # 4 Exhibit 4, # 5 Exhibit 5, # 6 Exhibit 6, # 7 Exhibit 7, # 8 Exhibit 8, # 9 Exhibit 9, # 10 Exhibit 10, # 11 Exhibit 11, # 12 Exhibit 12, # 13 Exhibit 13, # 14 Exhibit 14, # 15 Exhibit 15, # 16 Exhibit 16, # 17 Exhibit 17, # 18 Exhibit 18, # 19 Exhibit 19, # 20 Exhibit 20, # 21 Exhibit 21, # 22 Exhibit 22, # 23 Exhibit 23, # 24 Exhibit 24, # 25 Exhibit 25, # 26 Exhibit 26, # 27 Exhibit 27, # 28 Exhibit 28, # 29 Exhibit 29, # 30 Exhibit 30, # 31 Exhibit 31, # 32 Exhibit 32, # 33 Exhibit 33, # 34 Exhibit 34, # 35 Exhibit 35, # 36 Exhibit 36, # 37 Exhibit 37, # 38 Exhibit 38, # 39 Exhibit 39, # 40 Exhibit 40, # 41 Exhibit 41, # 42 Exhibit 42, # 43 Exhibit 43, # 44 Exhibit 44, # 45 Exhibit 45, # 46 Exhibit 46, # 47 Exhibit 47, # 48 Exhibit 48, # 49 Exhibit 49, # 50 Exhibit 50, # 51 Exhibit 51, # 52 Exhibit 52, # 53 Exhibit 53, # 54 Exhibit 54, # 55 Exhibit 55, # 56 Exhibit 56, # 57 Exhibit 57, # 58 Exhibit 58, # 59 Exhibit 59, # 60 Exhibit 60, # 61 Exhibit 61, # 62 Exhibit 62, # 63 Exhibit 63, # 64 Exhibit 64, # 65 Exhibit 65, # 66 Exhibit 66, # 67 Exhibit 67, # 68 Exhibit 68, # 69 Exhibit 69, # 70 Exhibit 70, # 71 Exhibit 71, # 72 Exhibit 72, # 73 Exhibit 73, # 74 Exhibit 74, # 75 Exhibit 75, # 76 Exhibit 76, # 77 Exhibit 77, # 78 Exhibit 78, # 79 Exhibit 79, # 80 Exhibit 80, # 81 Exhibit 81, # 82 Exhibit 82, # 83 Exhibit 83, # 84 Exhibit 84, # 85 Exhibit 85, # 86 Exhibit 86, # 87 Exhibit 87, # 88 Exhibit 88, # 89 Exhibit 89, # 90 Exhibit 90, # 91 Exhibit 91, # 92 Exhibit 92, # 93 Exhibit 93, # 94 Exhibit 94, # 95 Exhibit 95, # 96 Exhibit 96, # 97 Exhibit 97, # 98 Exhibit 98, # 99 Exhibit 99, # 100 Exhibit 100, # 101 Exhibit 101, # 102 Exhibit 102, # 103 Exhibit 103, # 104 Exhibit 104, # 105 Exhibit 105, # 106 Exhibit 106)(Conroy, Owen)

Exhibit 62

100 STAT. 1770

PUBLIC LAW 99-499—OCT. 17, 1986
on Ways and Means of the House of Representatives and the
Committee on Finance of the Senate.

SEC. 516. ENVIRONMENTAL TAX.

(a) IN GENERAL.—Subchapter A of chapter 1 of the Internal
Revenue Code of 1986 (relating to income taxes) is amended by
adding at the end thereof the following new part:

"PART VII—ENVIRONMENTAL TAX
"Sec. 59A. Environmental tax.
26 USC 59A.

"SEC. 59A. ENVIRONMENTAL TAX.

Corporations.

"(a) IMPOSITION OF TAX.—In the case of a corporation, there is
hereby imposed (in addition to any other tax imposed by this
subtitle) a tax equal to 0.12 percent of the excess of—
"(1) the modified alternative minimum taxable income of
such corporation for the taxable year, over
"(2) $2,000,000.
"(b) MODIFIED ALTERNATIVE MINIMUM TAXABLE INCOME—For
purposes of this section, the term 'modified alternative minimum
taxable income' means alternative minimum taxable income (as
defined in section 55(bX2)) but determined without regard to—
"(1) the alternative tax net operating loss deduction (as defined in section 56(d)), and
"(2) the deduction allowed under section 164(aX5).
"(c) SPECIAL RULES.—
"(1) SHORT TAXABLE YEARS.—The application of this section to
taxable years of less than 12 months shall be in accordance with
regulations prescribed by the Secretary.
'(2) SECTION 15 NOT TO APPLY.—Section 15 shall not apply to
the tax imposed by this section.
"(d) APPLICATION OP TAX.—
"(1) IN GENERAL.—The tax imposed by this section shall apply
to taxable years beginning after December 31, 1986, and before
January 1,1992.
"(2) EARLIER TERMINATION.—The tax imposed by this section
shall not apply to taxable years—
"(A) beginning during a calendar year during which no
tax is imposed under section 4611(a) by reason of paragraph
(2) of section 4611(e), and
"(B) beginning after the calendar year which includes the
termination date under paragraph (3) of section 4611(e)."
(b) TECHNICAL AMENDMENTS.—
(1) No CREDITS ALLOWED AGAINST TAX.—
(A) Paragraph (2) of section 26(b) of such Code, as
amended by the Tax Reform Act of 1986, is amended by
redesignating subparagraphs (B) through (J) as subparagraphs (C) through (K), respectively, and by inserting after
subparagraph (A) the following new subparagraph:
"(B) section 59A (relating to environmental tax),".
(B) Paragraph (3) of section 936(a) of such Code, as so
amended, is amended by redesignating subparagraphs (A),
(B), and (C) as subparagraphs (B), (C), and (D), respectively,
and by inserting before subparagraph (B) (as so redesignated) the following new subparagraph:
"(A) section 59A (relating to environmental tax),".

Effective date.

PUBLIC LAW 99-499—OCT. 17, 1986

100 STAT. 1771

(2) TAX TO BE DEDUCTIBLE FOR INCOME TAX PURPOSES.—
(A) Subsection (a) of section 164 of such Code (relating to 26 USC 164.
deduction for taxes), as so amended, is amended by inserting after paragraph (4) the following new paragraph:
"(5) The environmental tax imposed by section 59A."
Ante, p. 1770.
(B) Subsection (a) of section 275 of such Code is amended
by adding at the end thereof the following new sentence:
"Paragraph (1) shall not apply to the tax imposed by section
59A."
(3) LIMITATION IN CASE OF CONTROLLED CORPORATIONS.—
Subsection (a) of section 1561 of such Code (relating to limitations on certain multiple tax benefits in the case of certain
controlled corporations), as amended by the Tax Reform Act of
1986, is amended—
(A) by striking out "and" at the end of paragraph (2), by
striking out the period at the end of paragraph (3) and
inserting in lieu thereof ", and", and by inserting after
paragraph (3) the following new paragraph:
"(4) one $2,000,000 amount for purposes of computing the tax
imposed by section 59A.", and
(B) by striking out "(and the amount specified in paragraph (3))" and inserting in lieu thereof ", the amount
specified in paragraph (3), and the amount specified in
paragraph (4)".
(4) AMENDMENTS TO ESTIMATED TAX PROVISIONS.—
(A) TAX LIABILITY MUST BE ESTIMATED.—
(i) Paragraph (1) of section 6154(c) of such Code, as so
amended, is amended by striking out "and" at the end
of subparagraph (A), by striking out "over" at the end
of subparagraph (B) and inserting in lieu thereof
"and", and by adding at the end thereof the following
new subparagraph:
"(C) the environmental tax imposed by section 59A,
over".
(ii) Subsection (a) of section 6154 of such Code is
amended by striking out "section 11" and inserting
"section 11,59A,".
(C) CONFORMING AMENDMENT TO OVERPAYMENT OF ESTIMATED TAX.—Subparagraph (A) of section 6425(cXl) of such
Code, as amended by the Tax Reform Act of 1986, is
amended by striking out "plus" at the end of clause (i), by
striking out "over" at the end of clause (ii) and inserting in
lieu thereof "plus", and by adding at the end thereof the
following new clause:
"(iii) the tax imposed by section 59A, over".
(D) CONFORMING AMENDMENT TO PENALTY FOR FAILURE TO
PAY ESTIMATED TAX.—Paragraph (1) of section 6655(f) of such
Code (defining tax), as so amended, is amended by striking
out "plus" at the end of subparagraph (A), by striking out
"over' at the end of subparagraph (B) and inserting in lieu
thereof "plus", and by adding at the end thereof the following new subparagraph:
"(C) the tax imposed by section 59A, over".
(5) CLERICAL AMENDMENT.—The table of parts for subchapter
A of chapter 1 of such Code is amended by adding at the end
thereof the following new item:
"Part VII. Environmental tax."

100 STAT. 1772
26 USC 26 note,

26 USC 9507.

infra.

Ante, p. 1770.

42 USC 9601
note.
33 USC 1321.
42 USC 9601.
42 USC 9607.

Ante, p. 1642.

Waste disposal.

42 USC 6925.

PUBLIC LAW 99-499—OCT. 17, 1986

(c) EFFECTIVE DATE.—The amendments made by this section shall
apply to taxable years beginning after December 31, 1986.
SEC. 511. HAZARDOUS SUBSTANCE SUPERFUND.
(a) IN GENERAL.—Subchapter A of chapter 98 of the Internal
Revenue Code of 1986 (relating to establishment of trust funds) is
amended by adding after section 9506 the following new section:
"SEC. 9507. HAZARDOUS SUBSTANCE SUPERFUND.
"(a) CREATION OF TRUST FUND.—There is established in the Treasury of the United States a trust fund to be known as the 'Hazardous
Substance Superfund' (hereinafter in this section referred to as the
'Superfund'), consisting of such amounts as may be—
"(1) appropriated to the Superfund as provided in this section,
"(2) appropriated to the Superfund pursuant to section 517(b)
of the Superfund Revenue Act of 1986, or
"(3) credited to the Superfund as provided in section 9602(b).
"(b) TRANSFERS TO SUPERFUND.—There are hereby appropriated to
the Superfund amounts equivalent to—
'(1) the taxes received in the Treasury under section 59A,
4611,4661, or 4671 (relating to environmental taxes),
"(2) amounts recovered on behalf of the Superfund under the
Comprehensive Environmental Response, Compensation, and
Liability Act of 1980 (hereinafter in this section referred to as
•CERCLA'),
"(3) all moneys recovered or collected under section
31 l(bX6XB) of the Clean Water Act,
"(4) penalties assessed under title I of CERCLA, and
"(5) punitive damages under section 107(cX3) of CERCLA.
"(c) EXPENDITURES FROM SUPERFUND.—
"(1) IN GENERAL.—Amounts in the Superfund shall be available, as provided in appropriation Acts, only for purposes of
making expenditures—
(A) to carry out the purposes of—
"(i) paragraphs (1), (2), (5), and <6) of section 111(a) of
CERCLA as in effect on the date of the enactment of
the Superfund Amendments and Reauthorization Act
of 1986,
"(ii) section 111(c) of CERCLA (as so in effect), other
than paragraphs (1) and (2) thereof, and
"(iii) section lll(m) of CERCLA (as so in effect), or
"(B) hereafter authorized by a law which does not authorize the expenditure out of the Superfund for a general
purpose not covered by subparagraph (A) (as so in effect).
"(2) EXCEPTION FOR CERTAIN TRANSFERS, ETC., OF HAZARDOUS
SUBSTANCES.—No amount in the Superfund or derived from the

Superfund shall be available or used for the transfer or disposal
of hazardous waste carried out pursuant to a cooperative agreement between the Administrator of the Environmental Protection Agency and a State if the following conditions apply—
(A) the transfer or disposal, if made on December 13,
1985, would not comply with a State or local requirement,
"(B) the transfer is to a facility for which a final permit
under section 3005(a) of the Solid Waste Disposal Act was
issued after January 1, 1983, and before November 1, 1984,
and