A bill to exempt State and county payments under the Gulf of Mexico Energy Security Act of 2006 from sequestration.

Bill: 115-s-2777
Sponsor: full_name: Sen. Cassidy, Bill [R-LA]
Introduced: 2018-04-26
Policy area: Economics and Public Finance
Latest action: action_date: 2018-04-26
text: Read twice and referred to the Committee on the Budget.

Summaries:
action_date: 2018-04-26
action_desc: Introduced in Senate
text: <p>This bill amends the Balanced Budget and Emergency Deficit Control Act of 1985 to exempt from sequestration payments to states under provisions of the Gulf of Mexico Energy Security Act of 2006 that require certain revenues from oil and gas leases in the Gulf of Mexico to be disbursed to Gulf producing states (Alabama, Louisiana, Mississippi, and Texas) and coastal political subdivisions of the states. </p> <p>(Sequestration is a process of automatic, usually across-the-board spending reductions under which budgetary resources are permanently cancelled to enforce specific budget policy goals.) </p>

tv_txt: II 115th CONGRESS 2d Session S. 2777 IN THE SENATE OF THE UNITED STATES April 26, 2018 Mr. Cassidy (for himself and Mr. Kennedy ) introduced the following bill; which was read twice and referred to the Committee on the Budget A BILL To exempt State and county payments under the Gulf of Mexico Energy Security Act of 2006 from sequestration.

1. Exemption of certain payments from sequestration (a) In general Section 255(g)(1)(A) of the Balanced Budget and Emergency Deficit Control Act of 1985 ( 2 U.S.C. 905(g)(1)(A) ) is amended by inserting after Payments to Social Security Trust Funds (28–0404–0–1–651). the following: Payments to States pursuant to section 105(a)(2)(A) of the Gulf of Mexico Energy Security Act of 2006 ( Public Law 109–432 ; 43 U.S.C. 1331 note) (014–5535–0–2–302). . (b) Applicability The amendment made by this section shall apply to any sequestration order issued under the Balanced Budget and Emergency Deficit Control Act of 1985 ( 2 U.S.C. 900 et seq.) on or after the date of enactment of this Act.