A bill to allow for the investment of joint Federal and State funds from the civil settlement of damages from the Exxon Valdez oil spill.

Summary

Authorizes the deposit, upon joint motion of the United States and the State of Alaska, and the issuance of an appropriate order by the United States District Court for the District of Alaska, of the joint trust funds or any portion thereof, including any interest accrued thereon, received or to be received by the United States and Alaska under the Agreement and Consent decree issued in United States v. Exxon Corporation (i.e., the Exxon Valdez oil spill consent decree), in appropriate accounts outside the Court Registry, including the Natural Resource Damage Assessment and Restoration Fund. Allows any interest accrued under the authority of this Act to be used only for grants for marine research and monitoring (including applied fisheries research) and for community and economic restoration projects (including projects proposed by the fishing industry and facilities). Authorizes the Federal trustees to administer such grants. Terminates the authority provided in this Act on September 30, 2002, unless by September 30, 2001, the trustees have submitted to the Congress a proposal to authorize in Federal statute a board to administer funds invested, interest received, and grants awarded from such interest.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 12 November 1997

   Introduced

   Read twice and referred to the Committee on Judiciary.

   Source: IntroReferral

2. 12 November 1997

   Introduced

   Sponsor introductory remarks on measure. (CR S12507)

   Source: IntroReferral

3. 12 November 1997

   Introduced

   Introduced in Senate

   Source: IntroReferral

4. 3 June 1998

   Referred

   Referred to Subcommittee on Oversight and Courts.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 12 November 1997 · Official file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 12 November 1997

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 12 November 1997

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 12 November 1997

  Open at official source

Sponsors

• Sen. Murkowski, Frank H. [R-AK] · R · Sponsor
• Sen. Stevens, Ted [R-AK] · R · Sponsor
• · ssju00 · Standing

Related records

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