Sec. 4003. Revenues for Clean Water Trust Fund

307 words·~1 min read·/bill/113/hr/1877/ih/section-4003

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Not later than 45 days after the date of enactment of this Act, the Director of the Congressional Budget Office, in consultation with the Administrator of the Environmental Protection Agency and the Secretary of the Treasury, shall undertake a study of potential funding mechanisms and revenue sources for the Clean Water Trust Fund established by section 9512(d) of the Internal Revenue Code of 1986 (as added by this Act) that are sufficient to support annual funding levels of at least $10,000,000,000 for the purposes identified in section 9512(d) of that Act.

In carrying out the study, the Director shall— take into consideration whether potential funding mechanisms and revenue sources— are broad based; are equitably allocated; and can be efficiently collected; review and, to the extent practicable, utilize existing studies and reports on potential sources of revenue for a clean water trust fund, including— the report of the Government Accountability Office entitled Clean Water Infrastructure: A Variety of Issues Need to Be Considered When Designing a Clean Water Trust Fund (GAO–09–037, May 2009); and the report of the Environmental Protection Agency entitled Alternative Funding Study:

Water Quality Fees and Debt Financing Issues (EPA 832–R–96–001, June 1996); consult with Federal, State, tribal, and local agencies, representatives of business and industry, representatives of entities operating publicly owned treatment works, representatives of conservation and environmental organizations, representatives of ratepayer organizations, and other interested persons; and provide the opportunity for public hearings. Not later than 1 year after the date of enactment of this Act, the Director shall submit a report on the results of the study to— the Committee on Transportation and Infrastructure, the Committee on Ways and Means, and the Committee on the Budget of the House of Representatives; and the Committee on Environment and Public Works, the Committee on Finance, and the Committee on the Budget of the Senate.