Federal oil spill liability trust fund
Web( 1) Presentation, filing, processing, settlement, and adjudication of claims authorized to be presented to the Oil Spill Liability Trust Fund (the Fund) under section 1013 of the Oil Pollution Act of 1990 (the Act) ( 33 U.S.C. 2713) for certain uncompensated removal costs or uncompensated damages resulting from the discharge, or substantial … WebMar 6, 2024 · Provides funding for responses to oil releases under the Oil Spill Liability Trust Fund, provided certain criteria are met. The responsible party is liable for federal removal costs and damages as detailed in section 1002 of the Oil Pollution Act. Federal agencies assisting in a response action may be reimbursed. Other federal agencies may ...
Federal oil spill liability trust fund
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WebThe Federal Oil Spill Tax provides three incidences of taxation. First, under IRC § 4611(a), the tax is imposed on ... (Jan. 22, 2015) (noting that the Oil Spill Liability Trust Fund was created in 1986, however, Congress did not authorize its use or provide its funding until the passage of the Oil Pollution Act of 1990). 3. Web§9509. Oil Spill Liability Trust Fund (a) Creation of Trust Fund. There is established in the Treasury of the United States a trust fund to be known as the "Oil Spill Liability Trust Fund", consisting of such amounts as may be appropriated or credited to such Trust Fund as provided in this section or section 9602(b). (b) Transfers to Trust Fund
Webout claim for compensation presented after July 6, 2012, to the Oil Spill Liability Trust Fund. 5) Activities designed to restore or protect natural resources must be based on the best available science as defined in the RESTORE Act and Treasury implementing regulations at 31 CFR § 34.2 and clearly demonstrated in the proposed activity WebJul 31, 2012 · The U.S. Coast Guard, which administers the Oil Spill Liability Trust Fund, has authorized $53 million so far to help clean up Enbridge’s Michigan oil spill. To date, the government...
WebDec 31, 2024 · the reinstatement of the Oil Spill Liability Trust Fund Tax (Federal Oil Spill Tax), effective March 1, 2024. The reinstatement of the Federal Oil Spill Tax last February also amended the expiration date to December 31, 2024.2 To date, there has been no legislation enacted to extend the Federal Oil Spill Tax beyond December 31, 2024. WebThe OPA also created the national Oil Spill Liability Trust Fund, which is available to provide up to one billion dollars per spill incident. In addition, the OPA provided new requirements for contingency planning both by government and industry.
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WebCurrently, the law provides that $1 billion may be spent on any one oil spill event. The Oil Spill Liability Trust Fund is divided into two components, the emergency fund and the … cumberland county pa realestateWebAnyone desiring to file a claim against the Fund may obtain general information on the procedure for filing a claim from the Director, National Pollution Funds Center, U.S. … cumberland county pa rules of courtWebMar 12, 2024 · The 9 cents per barrel federal oil spill liability tax, which expired Dec. 31, 2024, went back into effect March 1, 2024, after Congress reinstated the tax as part of the recently enacted congressional budget bill, under Senate Bill 2256. east river par 3Webthe [Oil Spill Liability Trust] Fund.” Id. § 2713(a), (c)(2). The presentation and disposition of claims against the Fund pursuant to section 1013 is governed by detailed regulations and is subject to administrative adjudication. Id. § 2713(e); 33 C.F.R. pt. 136 (1996). In pursuing a claim against the Fund, “[t]he claimant cumberland county partnership for childrenWebAs of January 1, 2024, and through December 31, 2025, the “Oil Spill Liability Trust Fund Fee” is 9cts/bbl (0.0021cts/gal). Additionally, as of January 1, 2024, the “Superfund” fee … cumberland county pa senior servicesWebThe accompanying Balance Sheet of the Oil Spill Liability Trust Fund and related Income Statement pertain to the aspects of the Oil Spill Liability Trust Fund that is serviced by … east river park christian church elizabethtonWebSep 7, 2007 · As a supplement to this "polluter pays" approach, a federal Oil Spill Liability Trust Fund administered by the Coast Guard pays for costs when a responsible party does not or cannot pay. The Coast Guard and Maritime Transportation Act of 2006 directed GAO to examine spills that cost the responsible party and the Fund at least $1 million. east river park action