S. 3306 (111th): Big Oil Bailout Prevention Trust Fund Act of 2010

Introduced:
May 04, 2010 (111th Congress, 2009–2010)
Sponsor:
Sen. Robert “Bob” Menéndez [D-NJ]
Status:
Died (Referred to Committee)
See Instead:
This bill was re-introduced as S. 215 (112th) on Jan 27, 2011.

The bill’s title was written by the bill’s sponsor. S. stands for Senate bill.

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Status

This bill was introduced on May 4, 2010, in a previous session of Congress, but was not enacted.

Progress
Introduced May 04, 2010
Referred to Committee May 04, 2010
Cosponsors
18 cosponsors (17D, 1I) (show)
Committees

Senate Finance

The committee chair determines whether a bill will move past the committee stage.

Full Title

A bill to amend the Internal Revenue Code of 1986 to require polluters to pay the full cost of oil spills, and for other purposes.

Summary

No summaries available.

Text

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Last updated May 04, 2010.
3 pages

Primary Source

View on THOMAS (The Library of Congress)

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GovTrack’s Bill Summary

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Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

5/4/2010--Introduced.
Big Oil Bailout Prevention Trust Fund Act of 2010 - 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: and
(2) restrictions on the borrowing authority of such Trust Fund. 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.

House Republican Conference Summary

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No summary available.

House Democratic Caucus Summary

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The bill contains the following citations to other parts of U.S. law:

United States Code

The United States Code is the compilation of permanent laws enacted by Congress. Temporary and other non-permanent laws do not appear in the United States Code. (About half of the United States Code is the law itself, called positive law. The other half is merely a compilation of the laws but has no legal significance.)

  • Title 33: NAVIGATION AND NAVIGABLE WATERS
  • Chapter 40: OIL POLLUTION
  • Subchapter I: OIL POLLUTION LIABILITY AND COMPENSATION
  • Section 2712: Uses of Fund