Senate Bill 5080
116th Congress(2019-2020)
Big Oil Bailout Prevention Trust Fund Act of 2020
Introduced
Introduced in Senate on Dec 21, 2020
Origin Chamber
Senate
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
5080
Congress
116
Policy Area
Environmental Protection
Environmental Protection
Primary focus of measure is regulation of pollution including from hazardous substances and radioactive releases; climate change and greenhouse gases; environmental assessment and research; solid waste and recycling; ecology. Measures concerning energy exploration, efficiency, and conservation may fall under Energy policy area.
No Senate votes have been held for this bill.
Summary
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.
December 21, 2020
12/21/2020
Read twice and referred to the Committee on Finance.
12/21/2020
Introduced in Senate
Public Record
Record Updated
Jan 11, 2023 1:43:45 PM