II 110th CONGRESS 1st Session S. 2429 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.

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.

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.