legislation: 114-s-3163

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bill_id congress bill_type bill_number title policy_area introduced_date latest_action_date latest_action_text origin_chamber sponsor_name sponsor_state sponsor_party sponsor_bioguide_id cosponsor_count summary_text update_date url
114-s-3163 114 s 3163 Big Oil Bailout Prevention Trust Fund Act of 2016 Environmental Protection 2016-07-12 2016-07-12 Read twice and referred to the Committee on Finance. Senate Sen. Menendez, Robert [D-NJ] NJ D M000639 10 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. 2023-01-11T13:33:15Z  

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