HR 6413 · 114th Congress · Environmental Protection

Big Oil Bailout Prevention Trust Fund Act of 2016

Introduced 2016-11-30· Sponsored by Rep. Pallone, Frank, Jr. [D-NJ-6]· House

Bill Progress

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Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the Committee on Transportation and Infrastructure, and in addition to the Committees on the Budget, and Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.(2016-11-30)

Plain Language Summary

[AI summary unavailable — showing source text] Big Oil Bailout Prevention Trust Fund Act of 2016 This bill amends the Internal Revenue Code to eliminate: (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 amends the Oil Pollution Act of 1990 to direct 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.…

Summarized by Claude AI · Non-partisan · For informational purposes only