article: SECTION 1. EXCISE TAX ON MANUFACTURE AND IMPORTATION OF TIRES. (a) In General.--Chapter 38 of the Internal Revenue Code of 1986 (relating to environmental taxes) is amended by adding at the end the following: ``Subchapter E--Tax on Tires ``Sec. 4691. Imposition of tax. ``SEC. 4691. IMPOSITION OF TAX. ``(a) General Rule.--There is imposed a tax on the manufacture or importation of tires of any type, including solid and pneumatic tires. ``(b) Amount of Tax.--The amount of the tax imposed by subsection (a) shall be 50 cents per tire. ``(c) Liability for Tax.--The tax imposed by subsection (a) shall be paid by the manufacturer or importer of the tire not later than 30 days after the end of each calendar quarter for each tire manufactured or imported during such quarter. ``(d) Tires on Imported Articles.--For purposes of subsection (a), if an article imported into the United States is equipped with tires, the importer of the article shall be treated as the importer of the tires with which such article is equipped. ``(e) Effective Date.--The tax imposed by this section shall apply to tires manufactured or imported after December 31, 1997, and before January 1, 2003.''. (b) Conforming Amendment.--The table of subchapters for chapter 38 of such Code is amended by adding after the item relating to subchapter D the following: ``Subchapter E. Tax on tires.''. SEC. 2. ESTABLISHMENT OF TIRE RECYCLING, ABATEMENT, AND DISPOSAL TRUST FUND. (a) In General.--Subchapter A of chapter 98 of the Internal Revenue Code of 1986 (relating to the establishment of trust funds) is amended by adding after section 9511 the following: ``SEC. 9512. WASTE TIRE RECYCLING, ABATEMENT, AND DISPOSAL TRUST FUND. ``(a) Creation of Trust Fund.--There is established in the Treasury of the United States a trust fund to be known as the ``Waste Tire Recycling, Abatement, and Disposal Trust Fund'' consisting of such amounts as may be appropriated or credited to such Trust Fund as provided in this section or section 9602(b). ``(b) Transfers to Trust Fund.--There are appropriated to the Waste Tire Recycling, Abatement, and Disposal Trust Fund amounts equivalent to-- ``(1) taxes received in the Treasury under section 4691 (relating to an assessment on motor vehicle tires); and ``(2) amounts received in the Treasury and collected under section 4011 of the Solid Waste Disposal Act. ``(c) Expenditures.--Amounts in the Waste Tire Recycling, Abatement, and Disposal Trust Fund shall be available, as provided in appropriation Acts, only for the purpose of making expenditures to carry out the purposes of section 4011 of the Solid Waste Disposal Act. ``(d) Authority to Borrow.-- ``(1) In general.--There are authorized to be appropriated to the Waste Tire Recycling, Abatement, and Disposal Trust Fund, as repayable advances, such sums as may be necessary to carry out the purposes of section 4011(k) of the Solid Waste Disposal Act. ``(2) Limitation on aggregate advances.--The maximum aggregate amount of repayable advances to the Waste Tire Recycling, Abatement, and Disposal Trust Fund which is outstanding at any one time shall not exceed an amount equal to the amount which the Secretary estimates will be equal to the sum of the amounts received from the tax imposed by section 4691 during any 2-year period. ``(3) Repayment of advances.-- ``(A) In general.--Advances made to the Waste Tire Recycling, Abatement, and Disposal Trust Fund shall be repaid, and interest on such advances shall be paid, to the general fund of the Treasury when the Secretary determines that moneys are available for such purposes in the Waste Tire Recycling, Abatement, and Disposal Trust Fund. ``(B) Date for termination of advances.--No advance shall be paid to the Trust Fund after December 31, 2001 and all advances to the Trust Fund shall be repaid on or before such date. ``(C) Interest rate on advances.--Interest on advances made to the Trust Fund shall be at a rate determined by the Secretary to be equal to the current market yield on outstanding marketable obligations of the United States with remaining periods to maturity comparable to the anticipated period during which the advance will be outstanding, and shall be compounded annually.''. (b) Conforming Amendment.--The table of sections for subchapter A of chapter 98 of such Code is amended by adding after the item relating to section 9511 the following: ``Sec. 9511. Waste Tire Recycling, Abatement, and Disposal Trust Fund.''.
summary: Amends the Internal Revenue Code (IRC) to impose a tax on the manufacture or importation of tires of any type, including solid and pneumatic tires. Establishes the Waste Tire Recycling, Abatement, and Disposal Trust Fund. Appropriates to the Fund the taxes received under IRC provisions relating to an assessment on motor vehicle tires and amounts received under specified provisions of the Solid Waste Disposal Act. Makes Fund amounts available (as provided in appropriations Acts), and authorizes appropriations, for State and Federal waste tire recycling, abatement, and disposal activities and related research.