United States · Bill · S
S. 5080 (116th)
Big Oil Bailout Prevention Trust Fund Act of 2020
Introduced
21 December 2020
Last action
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Status
Read twice and referred to the Committee on Finance.
Sponsors
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Subjects
Discovery layer
Source updated
3 January 2025
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.
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Versions
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Documents
3 official files
Introduced in Senate (text)
Introduced in Senate (text)
Introduced in Senate · EN · 21 December 2020
Introduced in Senate (PDF)
Introduced in Senate · EN · 21 December 2020
Introduced in Senate
summary · EN · 21 December 2020
Sponsors
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Sources
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- Official source: https://www.congress.gov/bill/116th-congress/senate-bill/5080
- Open data entity: https://api.congress.gov/v3/bill/116/s/5080