Section 1 Short title
This Act may be cited as the “True Cost of Coal Act of 2013”.
True Cost of Coal Act of 2013
A BILL
To amend the Internal Revenue Code of 1986 to establish the Coal Mitigation Trust Fund funded by the imposition of a tax on the extraction of coal, and for other purposes.
Sec. 2 Coal Mitigation Trust Fund
In general— Subchapter A of chapter 98 of the Internal Revenue Code of 1986 is amended by adding at the end the following new section:
“9512. Coal Mitigation 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 Coal Mitigation Trust Fund, consisting of such amounts as may be appropriated or credited to such fund as provided in this section or section 9602(b).
“(b) Transfers to trust fund—There are hereby appropriated to the Coal Mitigation Trust Fund amounts equivalent to the taxes received in the Treasury under section 4122 (relating to excise tax on coal extraction).
“(c) Expenditures
“(1) In general—Except as otherwise provided in this subsection, amounts in the Coal Mitigation Trust Fund shall be available, as provided by appropriation Acts, to eligible States for mitigation of the following in connection with the transportation of coal by rail: noise, vibration, traffic delays, pollution and other threats to public health, and emergencies. Such amounts shall also be so available for related worker adjustment assistance. Any amounts made available to an eligible State under this paragraph shall remain available until expended for a purpose described in this paragraph.
“(2) Allocation among States—Any amounts made available under paragraph (1) shall be made available to the eligible States in an amount which bears the same ratio to the population of such State as the aggregate amount made available bears to the aggregate populations of all the eligible States.
“(3) Eligible States—For purposes of this subsection, the term eligible State means any State in which not less than 2,500,000 tons of coal per year is transported by rail.
“(4) Amounts made available not to offset required expenditures—Amounts made available under paragraph (1) shall not be used directly or indirectly for any expense which any producer or transporter of coal is legally required to provide.”
Clerical amendment— The table of sections for subchapter A of chapter 98 of the Internal Revenue Code of 1986 is amended by adding at the end the following new item:
Sec. 3 Excise tax on coal extraction
In general— Subchapter B of chapter 32 of the Internal Revenue Code of 1986 is amended by adding at the end the following new section:
“4122. Excise tax on coal extraction
“(a) In general—There is hereby imposed on the extraction of coal in the United States a tax equal to $10 per ton.
“(b) Cross reference—For definitions of United States and ton, see section 4121(c).”
Clerical amendment— The table of sections for subchapter B of chapter 32 of such Code is amended by adding at the end the following new item:
Effective date— The amendments made by this section shall apply to coal extracted after the date of the enactment of this Act.
Sec. 4 Extension of recovery period for specified coal port property
50-Year recovery period for specified coal ports—
In general— The table contained in section 168(c) of the Internal Revenue Code of 1986 is amended by striking the last row and inserting the following:
Alternative depreciation system— The table contained in section 168(g)(2)(C) of such Code is amended by striking “or water utility property” and inserting “, water utility property, or specified coal port property”.
Specified coal port property— Subsection (e) of section 168 of such Code is amended by adding at the end the following new paragraph:
“(9) Specified coal port property—The term specified coal port property means any property which is part of a port (including any wharfs, stockyards, or conveyers) if—
“(A) it is reasonably anticipated at the time that such property is placed in service that such port will be used for the export of coal, and
“(B) such port (after such property and any related property is placed in service) would have the capacity to export more than 1,000,000 tons of coal annually.”
Effective date— The amendments made by this section shall apply to property placed in service after the date of the enactment of this Act.
Sec. 5 Covering coal cars
Amendment— Subchapter II of chapter 201 of title 49, United States Code, is amended by adding at the end the following new section:
“20168. Covering coal cars.
“The Secretary of Transportation shall issue regulations to require all rail cars transporting coal to be covered or to incorporate a suitable alternative technology that ensures that coal and coal dust do not escape the rail car or are treated to significantly reduce or eliminate the release of coal dust or other particulate matter during transportation.”
Table of sections— The table of sections for subchapter II of chapter 201 of title 49, United States Code, is amended by adding at the end the following: