3.0.0 3756 2023-01-11T13:40:40Z 2023-01-11T13:40:40Z Senate S 2018-12-13 115 ssfi00 Finance Committee Senate Standing Referred to 2018-12-13T22:02:26Z 2018-12-13 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2018-12-13 Introduced in Senate IntroReferral 10000 9 Library of Congress M000639 Sen. Menendez, Robert [D-NJ] Robert Menendez D NJ N M000133 Sen. Markey, Edward J. [D-MA] Edward Markey D MA J. 2018-12-13 True R000122 Sen. Reed, Jack [D-RI] John Reed D RI F. 2018-12-13 True B001288 Sen. Booker, Cory A. [D-NJ] Cory Booker D NJ 2018-12-13 True B001277 Sen. Blumenthal, Richard [D-CT] Richard Blumenthal D CT 2018-12-13 True W000802 Sen. Whitehouse, Sheldon [D-RI] Sheldon Whitehouse D RI 2018-12-13 True P000595 Sen. Peters, Gary C. [D-MI] Gary Peters D MI 2018-12-13 True K000367 Sen. Klobuchar, Amy [D-MN] Amy Klobuchar D MN 2018-12-13 True M001176 Sen. Merkley, Jeff [D-OR] Jeff Merkley D OR 2018-12-13 True S001181 Sen. Shaheen, Jeanne [D-NH] Jeanne Shaheen D NH 2018-12-13 True D000563 Sen. Durbin, Richard J. [D-IL] Richard Durbin D IL J. 2018-12-13 True G000555 Sen. Gillibrand, Kirsten E. [D-NY] Kirsten Gillibrand D NY E. 2018-12-13 True H001075 Sen. Harris, Kamala D. [D-CA] Kamala Harris D CA D. 2018-12-13 True F000062 Sen. Feinstein, Dianne [D-CA] Dianne Feinstein D CA 2018-12-13 True S001203 Sen. Smith, Tina [D-MN] Tina Smith D MN 2018-12-13 True H001076 Sen. Hassan, Margaret Wood [D-NH] Maggie Hassan D NH 2018-12-13 True 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 Environmental Protection 00 2018-12-13 Introduced in Senate 2019-01-02T20:05:51Z Big Oil Bailout Prevention Trust Fund Act of 2018

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.

]]> Big Oil Bailout Prevention Trust Fund Act of 2018 Display Title Big Oil Bailout Prevention Trust Fund Act of 2018 Official Title as Introduced A bill to amend the Internal Revenue Code of 1986 to require oil polluters to pay the full cost of oil spills, and for other purposes. Introduced in Senate IS Short Titles as Introduced Big Oil Bailout Prevention Trust Fund Act of 2018 Introduced in Senate 2018-12-13T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-115s3756is/xml/BILLS-115s3756is.xml 2018-12-13 Read twice and referred to the Committee on Finance. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.