[Congressional Record Volume 163, Number 196 (Friday, December 1, 2017)]
[Senate]
[Page S7756]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 1849. Mr. BENNET submitted an amendment intended to be proposed by 
him to the bill H.R. 1, to provide for reconciliation pursuant to 
titles II and V of the concurrent resolution on the budget for fiscal 
year 2018; which was ordered to lie on the table; as follows:

       Strike title II and insert the following:

                                TITLE II

     SEC. 20001. LIMITATIONS ON AMOUNT OF DISTRIBUTED QUALIFIED 
                   OUTER CONTINENTAL SHELF REVENUES.

       Section 105(f)(1) of the Gulf of Mexico Energy Security Act 
     of 2006 (43 U.S.C. 1331 note; Public Law 109-432) is amended 
     by striking ``exceed $500,000,000 for each of fiscal years 
     2016 through 2055.'' and inserting the following: ``exceed--
       ``(A) $500,000,000 for each of fiscal years 2016 through 
     2019;
       ``(B) $650,000,000 for each of fiscal years 2020 and 2021; 
     and
       ``(C) $500,000,000 for each of fiscal years 2022 through 
     2055.''.

     SEC. 20002. STRATEGIC PETROLEUM RESERVE DRAWDOWN AND SALE.

       (a) Drawdown and Sale.--
       (1) In general.--Notwithstanding section 161 of the Energy 
     Policy and Conservation Act (42 U.S.C. 6241), except as 
     provided in subsections (b) and (c), the Secretary of Energy 
     shall draw down and sell from the Strategic Petroleum Reserve 
     25,000,000 barrels of crude oil during the period of fiscal 
     years 2026 through 2027.
       (2) Deposit of amounts received from sale.--Amounts 
     received from a sale under paragraph (1) shall be deposited 
     in the general fund of the Treasury during the fiscal year in 
     which the sale occurs.
       (b) Emergency Protection.--The Secretary of Energy shall 
     not draw down and sell crude oil under subsection (a) in a 
     quantity that would limit the authority to sell petroleum 
     products under subsection (h) of section 161 of the Energy 
     Policy and Conservation Act (42 U.S.C. 6241) in the full 
     quantity authorized by that subsection.
       (c) Limitation.--The Secretary of Energy shall not drawdown 
     or conduct sales of crude oil under subsection (a) after the 
     date on which a total of $1,325,000,000 has been deposited in 
     the general fund of the Treasury from sales authorized under 
     that subsection.

     SEC. 20003. AUTHORIZED USES OF ENERGY SECURITY AND 
                   INFRASTRUCTURE MODERNIZATION FUND.

       (a) Purpose.--The purpose of this section is to amend the 
     Bipartisan Budget Act of 2015 (Public Law 114-74; 129 Stat. 
     584)--
       (1) to increase national security; and
       (2) to increase the ability of the United States to respond 
     to disasters.
       (b) Use of Fund.--Section 404(d)(2)(B) of the Bipartisan 
     Budget Act of 2015 (42 U.S.C. 6239 note; Public Law 114-74) 
     is amended--
       (1) in clause (ii), by striking ``and'';
       (2) in clause (iii), by striking the period at the end and 
     inserting ``; and''; and
       (3) by adding at the end the following:
       ``(iv) the conduct of activities to modernize Strategic 
     Petroleum Reserve facilities, including each of the Strategic 
     Petroleum Reserve storage sites in the States of Louisiana 
     and Texas.''.
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