[Congressional Record Volume 156, Number 86 (Wednesday, June 9, 2010)]
[Senate]
[Page S4785]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]
OIL SPILL LIABILITY TRUST FUND
Mr. SANDERS. Mr. President, I ask unanimous consent that the Senate
proceed to the immediate consideration of S. 3473, introduced earlier
today.
The PRESIDING OFFICER. The clerk will report the bill by title.
The legislative clerk read as follows:
A bill (S. 3473) to amend the Oil Pollution Act of 1990 to
authorize advances from Oil Spill Liability Trust Fund for
the Deepwater Horizon oil spill.
There being no objection, the Senate proceeded to consider the
resolution.
Mr. CONRAD. Mr. President, this is the Statement of Budgetary Effects
of PAYGO Legislation for S. 3473. This statement has been prepared
pursuant to section 4 of the Statutory Pay-As-You-Go Act of 2010
(Public Law 111-139), and is being submitted for printing in the
Congressional Record prior to passage of S. 3473 by the Senate.
Total Budgetary Effects of S. 3473 for the 5-year Statutory
PAYGO Scorecard: $0.
Total Budgetary Effects of S. 3473 for the 10-year
Statutory PAYGO Scorecard: $0.
Also submitted for the Record as part of this statement is a table
prepared by the Congressional Budget Office, which provides additional
information on the budgetary effects of this act.
CBO ESTIMATE OF THE STATUTORY PAY-AS-YOU-GO EFFECTS FOR S. 3473, A BILL TO AMEND THE OIL POLLUTION ACT OF 1990 TO AUTHORIZE ADVANCES FROM OIL SPILL
LIABILITY TRUST FUND FOR THE DEEPWATER HORIZON SPILL, AS PROVIDED TO CBO BY THE SENATE BUDGET COMMITTEE ON JUNE 8, 2010
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By fiscal year in millions of dollars--
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2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2010-2015 2010-2020
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Net Increase or Decrease (-) in the Deficit
Statutory Pay-As-You-Go Impact. 50 0 -50 0 0 0 0 0 0 0 0 0 0
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Note: The bill would allow the Coast Guard to draw up to an additional $850 million from the Oil Spill Liability Trust Fund to respond to the Deepwater
Horizon oil spill. CBO estimates that additional spending would be recovered from the responsible party.
Mr. SANDERS. I ask unanimous consent that the bill be read three
times, that the bill be passed, and the motion to reconsider be laid
upon the table; further, that any statements relating to the measure be
printed in the Record.
The PRESIDING OFFICER. Without objection, it is so ordered.
The bill (S. 3473) was ordered to be engrossed for a third reading,
was read the third time, and passed, as follows:
S. 3473
Be it enacted by the Senate and House of Representatives of
the United States of America in Congress assembled,
SECTION 1. ADVANCES FROM OIL SPILL LIABILITY TRUST FUND FOR
DEEPWATER HORIZON OIL SPILL.
Section 6002(b) of the Oil Pollution Act of 1990 (33 U.S.C.
2752) is amended in the second sentence--
(1) by inserting ``(1)'' after ``Coast Guard''; and
(2) by inserting before the period at the end the
following: ``and (2) in the case of the discharge of oil that
began in 2010 in connection with the explosion on, and
sinking of, the mobile offshore drilling unit Deepwater
Horizon, may, without further appropriation, obtain 1 or more
advances from the Fund as needed, up to a maximum of
$100,000,000 for each advance, with the total amount of all
advances not to exceed the amounts available under section
9509(c)(2) of the Internal Revenue Code of 1986, and within 7
days of each advance, shall notify Congress of the amount
advanced and the facts and circumstances necessitating the
advance''.
SEC. 2. BUDGETARY EFFECTS.
The budgetary effects of this Act, for the purpose of
complying with the Statutory Pay-As-You-Go-Act of 2010, shall
be determined by reference to the latest statement titled
``Budgetary Effects of PAYGO Legislation'' for this Act,
submitted for printing in the Congressional Record by the
Chairman of the Senate Budget Committee, provided that such
statement has been submitted prior to the vote on passage.
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