ReWIND Act

Bill: 116-hr-6707
Sponsor: Rep. Barragan, Nanette Diaz [D-CA-44]
Introduced: 2020-05-05 in the House
Policy area: Energy
Subjects: Administrative law and regulatory procedures
Banking and financial institutions regulation
Cardiovascular and respiratory health
Coal
Corporate finance and management
Credit and credit markets
Emergency medical services and trauma care
Energy revenues and royalties
Energy storage, supplies, demand
Financial services and investments
Government lending and loan guarantees
Infectious and parasitic diseases
Marine and coastal resources, fisheries
Military procurement, research, weapons development
Mining
Oil and gas
Public contracts and procurement
Public participation and lobbying
Strategic materials and reserves

Summary:
action_date: 2020-05-05
text: 

Resources for Workforce Investments, Not Drilling Act or the ReWIND Act

 
This bill limits the financial assistance that fossil fuel companies may receive from programs that provide relief to businesses affected by the COVID-19 (i.e., coronavirus disease 2019) outbreak, the Department of Interior's authority with respect to fossil fuels, the types and amount of oil that may be placed in the Strategic Petroleum Reserve (SPR), and the issuance or modification of rules until the COVID-19 national emergency terminates.
 
Specifically, it prohibits fossil fuel businesses from receiving financial assistance, loans, and loan guarantees under specified provisions of the Defense Production Act of 1950 and the Coronavirus Aid, Relief, and Economic Security Act or the CARES Act. Further, certain financial institutions (e.g., banks) that receive funding under the CARES Act may not operate or invest in such businesses for two years.
 
In addition, Interior may not (1) conduct lease sales for oil or natural gas; (2) issue leases for oil, natural gas, or coal; (3) modify regulations related to fossil fuel; or (4) reduce or eliminate royalty rates for fossil fuel leases on federal lands and in federal waters.
 
The bill decreases the storage cap on the SPR and declares that privately-owned oil may not be stored in the SPR.
 
Finally, the bill suspends the issuance of new rules until the national emergency terminates unless the rules are specifically required to respond to, or recover from, COVID-19. 


Legislative actions:
action_date: 2020-05-27
text: Referred to the Subcommittee on Energy and Mineral Resources.
action_date: 2020-05-05
text: Referred to the Committee on Natural Resources, and in addition to the Committees on Energy and Commerce, Financial Services, and the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2020-05-05
text: Referred to the Committee on Natural Resources, and in addition to the Committees on Energy and Commerce, Financial Services, and the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2020-05-05
text: Referred to the Committee on Natural Resources, and in addition to the Committees on Energy and Commerce, Financial Services, and the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2020-05-05
text: Referred to the Committee on Natural Resources, and in addition to the Committees on Energy and Commerce, Financial Services, and the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2020-05-05
text: Introduced in House
action_date: 2020-05-05
text: Introduced in House