[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[S. 2429 Introduced in Senate (IS)]







110th CONGRESS
  1st Session
                                S. 2429

  To amend the Oil Pollution Act of 1990 to equalize the limit on the 
  liability for oil tankers and cargo vessels and to provide for the 
 investment of amounts in the Damage Assessment Restoration Revolving 
                                 Fund.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                            December 6, 2007

 Mrs. Boxer (for herself and Mrs. Feinstein) introduced the following 
bill; which was read twice and referred to the Committee on Environment 
                            and Public Works

_______________________________________________________________________

                                 A BILL


 
  To amend the Oil Pollution Act of 1990 to equalize the limit on the 
  liability for oil tankers and cargo vessels and to provide for the 
 investment of amounts in the Damage Assessment Restoration Revolving 
                                 Fund.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. LIMIT ON LIABILITY FOR CERTAIN VESSELS.

    Section 1004(a)(1) of the Oil Pollution Act of 1990 (33 U.S.C. 
2704(a)(1)) is amended in the matter preceding subparagraph (A), by 
inserting ``or a cargo vessel'' after ``tank vessel''.

SEC. 2. INVESTMENT OF AMOUNTS IN DAMAGE ASSESSMENT RESTORATION 
              REVOLVING FUND.

    (a) Investment.--Amounts deposited into the Damage Assessment and 
Restoration Revolving Fund of the National Oceanic and Atmospheric 
Administration referred to in title I of Public Law 101-515 under the 
heading ``National oceanic and atmospheric administration'' (33 U.S.C. 
2706 note) shall be invested by the Secretary of the Treasury in 
interest bearing obligations of the United States to the extent the 
amounts are not required to meet current withdrawals.
    (b) Interest.--Interest earned on any investment under subsection 
(a) shall--
            (1) be deposited into the Damage Assessment Restoration 
        Revolving Fund; and
            (2) remain available until expended.
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