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HR 6413 114th Congress House Environmental Protection Accidents Administrative law and regulatory procedures Budget process Government trust funds Marine and coastal resources, fisheries Marine pollution Oil and gas Pollution liability State and local finance Water quality

Big Oil Bailout Prevention Trust Fund Act of 2016

Introduced: November 30, 2016 Introduced by: Pallone, Frank Democratic · New Jersey See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Nov 30, 2016
Referred to the Committee on Transportation and Infrastructure, and in addition to the Committees on the Budget, and Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Nov 30, 2016
Introduced in House
 Plain-English summary Congressional Research Service

Big Oil Bailout Prevention Trust Fund Act of 2016

This bill amends the Internal Revenue Code to eliminate: (1) the $1 billion per incident limitation on expenditures from the Oil Spill Liability Trust Fund for cleanup of oil spills, (2) the $500 million per incident limitation on expenditures from the trust fund for natural resource damage assessments and claims in connection with oil spills, and (3) the limitation on the borrowing authority of the trust fund.

The bill also amends the Oil Pollution Act of 1990 to direct the President to promulgate regulations to allow advance payments from the Oil Spill Liability Trust Fund to states and localities to prepare for and mitigate substantial threats from the discharge of oil.

What's happening now November 30, 2016

Referred to the Committee on Transportation and Infrastructure, and in addition to the Committees on the Budget, and Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

 Committees of jurisdiction 3