1. Short title This Act may be cited as the Communities and Environment First Act of 2020 . 2. For Communities Trust Fund (a) Establishment of fund (1) 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. For Communities 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 For Communities Trust Fund , consisting of such amounts as may be made available to such Trust Fund as provided in this section or section 9602(b). (b) Transfers to Trust Fund For each of fiscal years 2021 through 2031, there are authorized to be transferred to the For Communities Trust Fund amounts equivalent to the taxes received in the Treasury under sections 4661 and 4671. (c) Expenditures Amounts in the For Communities Trust Fund shall be made available without further appropriation to carry out section 6 of the Communities and Environment First Act of 2020. . (b) Clerical Amendment The table of sections for subchapter A of chapter 98 of such Code is amended by adding at the end the following new item: Sec. 9512. For Communities Trust Fund. . (c) Effective date The amendments made by this section shall apply to taxable years beginning after December 31, 2020. 3. Section 4661 taxes transferred For Communities Trust Fund only (a) In general Section 9507(b)(1) of the Internal Revenue Code of 1986 is amended by striking , 4661, or 4671 . (b) Conforming amendment Section 4661 of such Code is amended by striking subsection (c). (c) Effective date The amendments made by this section shall apply to taxes imposed after December 31, 2020. 4. Modification of chemical excise taxes (a) Adjustment for inflation of excise tax on certain chemicals Section 4661(b) of the Internal Revenue Code of 1986 is amended to read as follows: (b) Amount of tax (1) In general The amount of the tax imposed by subsection (a) shall be determined in accordance with the following table: In the case of: The tax is