Ozone Layer Conservation Act of 1989

[AI summary unavailable — showing source text] Ozone Layer Conservation Act of 1989 - Amends the Internal Revenue Code to impose an excise tax on: (1) any ozone-depleting chemical sold or used by its manufacturer, producer, or importer; and (2) any substance sold or used by its importer if its manufacture or production included the use of any ozone-depleting chemical. Fixes a tax rate equal to a base amount, adjusted annually for inflation, times the ozone-depletion factor for the pertinent chemical, as determined in accordance with this Act. Describes the criteria to be used for determining which substances will be considered as ozone-depleting chemicals for purposes of this tax. Presents an initial list of such chemicals. Exempts from the tax: (1) certain products containing a de minimis amount of ozone-depleting chemicals; and (2) chemicals diverted or recovered in the United States as part of a recycling process. Establishes in the Treasury the Ozone Layer Conservation Trust Fund, appropriating to it 50 percent of the taxes received under this Act. Directs the Administrator of the Environmental Protection Agency to develop and submit to the Congress a strategic plan for using Fund monies to develop alternative technologies …