S 5080
116th Congress
Senate
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 2020
Introduced: December 21, 2020
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Dec 21, 2020
Read twice and referred to the Committee on Finance.
Dec 21, 2020
Introduced in Senate
Plain-English summary
Big Oil Bailout Prevention Trust Fund Act of 2020
This bill eliminates (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 directs 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
Read twice and referred to the Committee on Finance.
Committees of jurisdiction
1