newly listed chemical
(3) Exports (A) In general Except as provided in subparagraph (B), rules similar to the rules of section 4662(e) (other than section 4662(e)(2)(A)(ii)(II)) shall apply for purposes of this subchapter. (B) Limit on benefit (i) In general The aggregate tax benefit allowable under subparagraph (A) with respect to ozone-depleting chemicals manufactured, produced, or imported by any person during a calendar year shall not exceed the sum of— (I) the amount equal to the 1986 export percentage of the aggregate tax which would (but for this subsection and subsection (g)) be imposed by this subchapter with respect to the maximum quantity of ozone-depleting chemicals permitted to be manufactured or produced by such person during such calendar year under regulations prescribed by the Environmental Protection Agency (other than chemicals with respect to which subclause (II) applies), (II) the aggregate tax which would (but for this subsection and subsection (g)) be imposed by this subchapter with respect to any additional production allowance granted to such person with respect to ozone-depleting chemicals manufactured or produced by such person during such calendar year by the Environmental Protection Agency under 40 CFR Part 82 (as in effect on September 14, 1989 ), and (III) the aggregate tax which was imposed by this subchapter with respect to ozone-depleting chemicals imported by such person during the calendar year. (ii) 1986 export percentage A person’s 1986 export percentage is the percentage equal to the ozone-depletion factor adjusted pounds of ozone-depleting chemicals manufactured or produced by such person during 1986 which were exported during 1986, divided by the ozone-depletion factor adjusted pounds of all ozone-depleting chemicals manufactured or produced by such person during 1986. The percentage determined under the preceding sentence shall be computed by taking into account the sum of such person’s direct 1986 exports (as determined by the Environmental Protection Agency) and such person’s indirect 1986 exports (as allocated to such person by such Agency in determining such person’s consumption and production rights for ozone-depleting chemicals). (C) Separate application of limit for newly listed chemicals (i) In general Subparagraph (B) shall be applied separately with respect to newly listed chemicals and other chemicals. (ii) Application to newly listed chemicals In applying subparagraph (B) to newly listed chemicals— (I) subparagraph (B) shall be applied by substituting “1989” for “1986” each place it appears, and (II) clause (i)(II) thereof shall be applied by substituting for the regulations referred to therein any regulations (whether or not prescribed by the Secretary) which the Secretary determines are comparable to the regulations referred to in such clause with respect to newly listed chemicals. (iii) Newly listed chemical For purposes of this subparagraph, the term “newly listed chemical” means any substance which appears in the table contained in subsection (a)(2) below Halon-2402.