S. 5080 · 116th Congress
Big Oil Bailout Prevention Trust Fund Act of 2020
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Never voted on. It didn't reach a floor vote before the 116th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
MenendezSponsor9 cosponsors · 9 D
D
Blumenthal
CB
D
Booker
RD
D
Durbin
DF
D
Feinstein
KG
D
Gillibrand
AK
D
Klobuchar
EM
D
Markey
JM
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Merkley
JR
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Reed9 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill eliminates (1) the $1 billion per incident limitation on expenditures from the Oil Spill Liability Trust Fund for cleanup of oil spills, (2) the $500 million per incident limitation on expenditures from the trust fund for natural resource damage assessments and claims in connection with oil spills, and (3) the limitation on the borrowing authority…
What it does: CRS summary · Introduced in Senate · Dec 21, 2020
Big Oil Bailout Prevention Trust Fund Act of 2020
This bill eliminates (1) the $1 billion per incident limitation on expenditures from the Oil Spill Liability Trust Fund for cleanup of oil spills, (2) the $500 million per incident limitation on expenditures from the trust fund for natural resource damage assessments and claims in connection with oil spills, and (3) the limitation on the borrowing authority of the trust fund.
The bill also directs the President to promulgate regulations to allow advance payments from the Oil Spill Liability Trust Fund to states and localities to prepare for and mitigate substantial threats from the discharge of oil.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Big Oil Bailout Prevention Trust Fund Act of 2020
Latest action (Dec 21, 2020): Read twice and referred to the Committee on Finance.
Policy area: Environmental Protection · Origin: Senate · Introduced: Dec 21, 2020
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.