S.827 - Big Oil Bailout Prevention Trust Fund Act of 2013

A bill to amend the Internal Revenue Code of 1986 to require oil polluters to pay the full cost of oil spills, and for other purposes. view all titles (2)

All Bill Titles

  • Official: A bill to amend the Internal Revenue Code of 1986 to require oil polluters to pay the full cost of oil spills, and for other purposes. as introduced.
  • Short: Big Oil Bailout Prevention Trust Fund Act of 2013 as introduced.

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Introduced
 
Senate
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House
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President
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04/25/13
 
 
 
 
 
 
 

Official Summary

Big Oil Bailout Prevention Trust Fund Act of 2013 - 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) the limitation on the borrowing authority of such Trust Fu

Official Summary

Big Oil Bailout Prevention Trust Fund Act of 2013 - 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) the limitation 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.

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