Superfund Revenue Act of 1985

[AI summary unavailable — showing source text] Superfund Revenue Act of 1985 - Amends the Internal Revenue Code to increase the tax on petroleum from the present level of 0.79 cents per barrel to 15.8 cents per barrel of crude oil. Provides that such tax shall not apply after September 30, 1990. Increases the tax rates on certain organic and inorganic feedstock chemicals. Provides that such tax rates will be adjusted annually for inflation. Exempts from tax the sale for export of taxable chemicals or the sale to a purchaser for subsequent export. Provides a credit or refund of the tax where the tax on the chemicals was paid and the chemicals were exported. Repeals the exemption from the tax for chemicals derived from coal. Exempts phosphoric acid used in producing fertilizer. Exempts certain substances having transitory presence during the extracting process. Provides that the term "xylene" does not include any separated isomer of xylene. Imposes a waste end tax of $25 for each ton of hazardous waste received in any qualified hazardous waste management unit or received for export or for disposal in the ocean. Provides that the tax shall be five dollars per ton for hazardous waste placed in an underground injection well. Provide…