Guaranteed Oil Spill Compensation Act of 2010
Latest action · Jun 21, 2010 Read twice and referred to the Committee on Environment and Public Works.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedJun 21, 2010
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Guaranteed Oil Spill Compensation Act of 2010 - Amends the Outer Continental Shelf Lands Act to establish the Oil Spill Recovery Fund for payment of covered removal costs and damages described in the Oil Pollution Act of 1990 that are associated with a discharge, or substantial threat of discharge, of oil.
Prohibits any person from entering into a federal oil or gas lease or contract after enactment of this Act unless the person pays into the Fund, or posts a bond, in an amount equal to the difference between: (1) the total of the outstanding liability of the person under the Oil Pollution Act of 1990 and any removal costs incurred by or on behalf of the person, with respect to any incident for which the person has outstanding liability; and (2) the outstanding balance in the Oil Spill Liability Trust Fund that is attributable to the person.
Requires repayment of unexpended funds (plus interest) upon the earlier of either five years after amounts were paid by the person into the Fund or the date on which the Secretary determines that all federal and state natural resource damage assessments and all outstanding civil claims relating to the incident for which the amounts were paid have been satisfied.
Establishes as a separate item, for purposes of the President's budget submission, a statement that includes the estimated amount of Fund deposits, obligations, and outlays.
Cosponsors 2
Members who signed on, in the order they did. All signed on Jun 21, 2010.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-MN | Amy Klobuchar | Original | Jun 21, 2010 |
| D-OR | Ron Wyden | Original | Jun 21, 2010 |
Actions 3
Everything that happened, newest first.
- Jun 21, 2010Introduced in Senate
- Jun 21, 2010Read twice and referred to the Committee on Environment and Public Works.
- Jun 21, 2010Sponsor introductory remarks on measure. (CR S5204)
Subjects
Assigned by the Library of Congress. Policy area: Energy.
Text 1
Each version as it was printed, newest first.
- Jun 21, 2010Introduced in Senate
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.