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bill Progress


  • Not enacted
    The President has not signed this bill
  • The senate has not voted
  • The house has not voted
      house Committees
      House Committee on Transportation and Infrastructure
      Coast Guard and Maritime Transportation
      Water Resources and Environment
    IntroducedMay 5th, 2010

Bill Details

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Title

Big Oil Bailout Prevention Act of 2010

Official Title

To require oil polluters to pay the full cost of oil spills, and for other purposes.

Summary

Big Oil Bailout Prevention Act of 2010 - Amends the Oil Pollution Act of 1990 to: (1) increase the liability of the party responsible for an offshore facility, except a deepwater port, from which oil is discharged into or upon navigable waters or adjoining shorelines to the total of all discharge removal costs plus $10 billion (currently, $75 million) for each incident; and (2) 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. 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. Makes this Act effective on April 15, 2010.

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