S. 1517 · 110th Congress
Oil Shale Reserve Fund Revenue Disposition Act
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Never voted on. It didn't reach a floor vote before the 110th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
AllardSponsorNo cosponsors.
Oil Shale Reserve Fund Revenue Disposition Act - Amends federal law concerning the leasing to private entities by the Secretary of the Interior of certain federal oil shale reserves in Colorado to provide a new system for the distribution of revenues from such leases (currently, all proceeds are deposited into the Treasury).
What it does: CRS summary · Introduced in Senate · May 24, 2007
Oil Shale Reserve Fund Revenue Disposition Act - Amends federal law concerning the leasing to private entities by the Secretary of the Interior of certain federal oil shale reserves in Colorado to provide a new system for the distribution of revenues from such leases (currently, all proceeds are deposited into the Treasury). States that, for all proceeds received between November 18, 1997, and December 31, 2017: (1) 50% shall be transferred from the Secretary of the Treasury to the state of Colorado for deposit into its oil shale special fund; and (2) 50% shall be deposited into a special account of the Treasury.
Requires amounts deposited into: (1) the Colorado special fund to be used to assist state agencies, school districts, and political subdivisions affected by the development and production of energy resources from oil shale in planning for and providing facilities and services associated with such development and production; and (2) the special account of the Treasury to be used for any of a number of purposes, including environmental restoration and financial assistance to the states of Colorado, Utah, and Wyoming for costs connected to energy resources development and production.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Oil Shale Reserve Fund Revenue Disposition Act
Latest action (May 24, 2007): Read twice and referred to the Committee on Armed Services.
Policy area: Energy · Origin: Senate · Introduced: May 24, 2007
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.