Source: http://uscode.house.gov/view.xhtml?req=(title:26%20section:9509%20edition:prelim)
Timestamp: 2018-11-14 10:54:59
Document Index: 377122347

Matched Legal Cases: ['§ 9509', '§9509', '§8033', '§9507', '§9509', '§8033', '§1018', '§7505', '§9001', '§2701', '§4201', '§2002', '§1501', '§2003', '§2004', '§9001', '§9001', '§9001', '§9001', '§9001', '§9001', '§9001', '§9001', '§7811', '§7505', '§7505', '§7505', '§7811', '§8033', '§322', '§1122', '§2003', '§2004', '§4304', '§8033']

[USC07] 26 USC 9509: Oil Spill Liability Trust Fund
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26 USC 9509: Oil Spill Liability Trust Fund Text contains those laws in effect on November 13, 2018
§9509. Oil Spill Liability Trust Fund
There are hereby appropriated to the Oil Spill Liability Trust Fund amounts equivalent to-
(1) taxes received in the Treasury under section 4611 (relating to environmental tax on petroleum) to the extent attributable to the Oil Spill Liability Trust Fund financing rate under section 4611(c),
(2) amounts recovered under the Oil Pollution Act of 1990 for damages to natural resources which are required to be deposited in the Fund under section 1006(f) of such Act,
(3) amounts recovered by such Trust Fund under section 1015 of such Act,
(4) amounts required to be transferred by such Act from the revolving fund established under section 311(k) of the Federal Water Pollution Control Act,
(5) amounts required to be transferred by the Oil Pollution Act of 1990 from the Deepwater Port Liability Fund established under section 18(f) of the Deepwater Port Act of 1974,
(6) amounts required to be transferred by the Oil Pollution Act of 1990 from the Offshore Oil Pollution Compensation Fund established under section 302 of the Outer Continental Shelf Lands Act Amendments of 1978,
(7) amounts required to be transferred by the Oil Pollution Act of 1990 from the Trans-Alaska Pipeline Liability Fund established under section 204 of the Trans-Alaska Pipeline Authorization Act, and
(8) any penalty paid pursuant to section 311 of the Federal Water Pollution Control Act, section 309(c) of such Act (as a result of violations of such section 311), the Deepwater Port Act of 1974, or section 207 of the Trans-Alaska Pipeline Authorization Act.
(1) Expenditure purposes
Amounts in the Oil Spill Liability Trust Fund shall be available, as provided in appropriation Acts or section 6002(b) of the Oil Pollution Act of 1990, only for purposes of making expenditures-
(A) for the payment of removal costs and other costs, expenses, claims, and damages referred to in section 1012 of such Act,
(B) to carry out sections 5 and 7 of the Intervention on the High Seas Act relating to oil pollution or the substantial threat of oil pollution,
(C) for the payment of liabilities incurred by the revolving fund established by section 311(k) of the Federal Water Pollution Control Act,
(D) to carry out subsections (b), (c), (d), (j), and (l) of section 311 of the Federal Water Pollution Control Act with respect to prevention, removal, and enforcement related to oil discharges (as defined in such section),
(E) for the payment of liabilities incurred by the Deepwater Port Liability Fund, and
(F) for the payment of liabilities incurred by the Offshore Oil Pollution Compensation Fund.
(A) $1,000,000,000 per incident, etc.
The maximum amount which may be paid from the Oil Spill Liability Trust Fund with respect to-
(i) any single incident shall not exceed $1,000,000,000, and
(ii) natural resource damage assessments and claims in connection with any single incident shall not exceed $500,000,000.
Interest on advances made pursuant to this subsection shall be-
(i) at a rate determined by the Secretary of the Treasury (as of the close of the calendar month preceding the month in which the advance is made) to be equal to the current average market yield on outstanding marketable obligations of the United States with remaining periods to maturity comparable to the anticipated period during which the advance will be outstanding, and
(ii) compounded annually.
(Added Pub. L. 99–509, title VIII, §8033(a), Oct. 21, 1986, 100 Stat. 1959 , §9507; renumbered §9509, Pub. L. 99–509, title VIII, §8033(c)(2)(B), Oct. 21, 1986, 100 Stat. 1962 ; amended Pub. L. 100–647, title I, §1018(u)(20), Nov. 10, 1988, 102 Stat. 3591 ; Pub. L. 101–239, title VII, §§7505(d)(2), 7811(m)(3), Dec. 19, 1989, 103 Stat. 2364 , 2412; Pub. L. 101–380, title IX, §9001, Aug. 18, 1990, 104 Stat. 573 .)
The Oil Pollution Act of 1990, referred to in subsecs. (b)(2), (3), (5)–(7), (c)(1), (e)(2), and (f), is Pub. L. 101–380, Aug. 18, 1990, 104 Stat. 484 , which is classified principally to chapter 40 (§2701 et seq.) of Title 33, Navigation and Navigable Waters. Sections 1006, 1012, 1015, and 6002 of the Act are classified to sections 2706, 2712, 2715, and 2752 of Title 33, respectively. For complete classification of this Act to the Code, see Short Title note set out under section 2701 of Title 33 and Tables.
Section 311 of the Federal Water Pollution Control Act, referred to in subsecs. (b)(4), (8) and (c)(1)(C), (D), is classified to section 1321 of Title 33. Subsec. (d) of section 311, which related to maritime disaster discharges, was amended generally by Pub. L. 101–380, title IV, §4201(b), Aug. 18, 1990, 104 Stat. 525 . Subsec. (k) of section 311 was repealed by Pub. L. 101–380, title II, §2002(b)(2), Aug. 18, 1990, 104 Stat. 507 .
The Deepwater Port Act of 1974, referred to in subsec. (b)(5), (8), is Pub. L. 93–627, Jan. 3, 1975, 88 Stat. 2126 , as amended, which is classified generally to chapter 29 (§1501 et seq.) of Title 33. Section 18 of the Act was classified to section 1517 of Title 33 prior to its repeal by Pub. L. 101–380, title II, §2003(a)(2), Aug. 18, 1990, 104 Stat. 507 . For complete classification of this Act to the Code, see Short Title note set out under section 1501 of Title 33 and Tables.
Section 302 of the Outer Continental Shelf Lands Act Amendments of 1978, referred to in subsec. (b)(6), was classified to section 1812 of Title 43, Public Lands, prior to its repeal by Pub. L. 101–380, title II, §2004, Aug. 18, 1990, 104 Stat. 507 .
1990-Subsec. (b)(2) to (8). Pub. L. 101–380, §9001(a), added pars. (2) to (8) and struck out former pars. (2) to (5) which read as follows:
"(2) amounts recovered, collected, or received under subtitle A of the Comprehensive Oil Pollution Liability and Compensation Act,
"(3) amounts remaining (on January 1, 1990) in the Deepwater Port Liability Fund established by section 18(f) of the Deepwater Port Act of 1974,
"(4) amounts remaining (on such date) in the Offshore Oil Pollution Compensation Fund established under section 302 of the Outer Continental Shelf Lands Act Amendments of 1978, and
"(5) amounts credited to such trust fund under section 311(s) of the Federal Water Pollution Control Act."
Subsec. (c)(1). Pub. L. 101–380, §9001(b), amended par. (1) generally, substituting "Expenditure purposes" for "General expenditure purposes" in heading and substituting current text consisting of subpars. (A) to (F) for former text consisting of general provisions in subpar. (A) and special rules in subpar. (B).
Subsec. (c)(2)(A). Pub. L. 101–380, §9001(c), substituted "$1,000,000,000" for "$500,000,000" in heading and in cl. (i), and substituted "$500,000,000" for "$250,000,000" in cl. (ii).
Subsec. (c)(2)(B). Pub. L. 101–380, §9001(e)(2), substituted "payments of removal costs" for "payments described in paragraph (1)(A)(i)".
Subsec. (d)(2). Pub. L. 101–380, §9001(d)(1), substituted "$1,000,000,000" for "$500,000,000".
Subsec. (d)(3)(B). Pub. L. 101–380, §9001(d)(2), substituted "December 31, 1994" for "December 31, 1991".
Subsec. (e)(2). Pub. L. 101–380, §9001(e)(1), substituted "Oil Pollution Act of 1990" for "Comprehensive Oil Pollution Liability and Compensation Act".
Subsec. (f). Pub. L. 101–380, §9001(e)(3), substituted "References to Oil Pollution Act of 1990" for "References to Comprehensive Oil Pollution Liability and Compensation Act" in heading and amended text generally. Prior to amendment, text read as follows: "For purposes of this section, references to the Comprehensive Oil Pollution Liability and Compensation Act shall be treated as references to any law enacted before December 31, 1990, which is substantially identical to subtitle E of title VI, or subtitle D of title VIII, of H.R. 5300 of the 99th Congress as passed by the House of Representatives."
1989-Subsec. (b)(3). Pub. L. 101–239, §7811(m)(3), made technical correction to directory language of Pub. L. 100–647, see 1988 Amendment note below.
Pub. L. 101–239, §7505(d)(2)(B), substituted "(on January 1, 1990)" for "(on the 1st day the Oil Spill Liability Trust Fund financing rate under section 4611(c) applies)".
Subsec. (c)(1)(A). Pub. L. 101–239, §7505(d)(2)(C), which directed amendment of subsec. (c)(1) by striking the last sentence, was executed by striking out the last sentence of subsec. (c)(1)(A), as the probable intent of Congress. Such sentence read as follows: "For purposes of this subparagraph, references to the Comprehensive Oil Pollution Liability and Compensation Act shall be treated as references to qualified authorizing legislation (as defined in section 4611)."
Subsec. (f). Pub. L. 101–239, §7505(d)(2)(A), added subsec. (f).
1988-Subsec. (b)(3). Pub. L. 100–647, as amended by Pub. L. 101–239, §7811(m)(3), substituted "Deepwater" for "Deep Water" wherever appearing.
Pub. L. 99–509, title VIII, §8033(c)(1), Oct. 21, 1986, 100 Stat. 1961 , provided that: "The amendments made by this section [enacting this section] shall take effect on the commencement date (as defined in section 4611 of the Internal Revenue Code of 1954 [now 1986], as amended by this part)."
Pub. L. 107–295, title III, §322(a), Nov. 25, 2002, 116 Stat. 2103 , provided that: "The report regarding the Oil Spill Liability Trust Fund required by the Conference Report (House Report 101–892) accompanying the Department of Transportation and Related Agencies Appropriations Act, 1991, [Pub. L. 101–516] as that requirement was amended by section 1122 of the Federal Reports Elimination and Sunset Act of 1995 (Public Law 104–66) [see below], shall no longer be submitted to the Congress."
Pub. L. 104–66, title I, §1122(a), Dec. 21, 1995, 109 Stat. 724 , provided that: "The quarterly report regarding the Oil Spill Liability Trust Fund required to be submitted to the House and Senate Committees on Appropriations under House Report 101–892, accompanying the appropriations for the Coast Guard in the Department of Transportation and Related Agencies Appropriations Act, 1991 [Pub. L. 101–516], shall be submitted not later than 30 days after the end of the fiscal year in which this Act is enacted and annually thereafter."
[House Report 101–892, 101st Congress, 2d Session, provided that: "The conferees direct the Coast Guard to submit quarterly reports to the House and Senate Committee on Appropriations detailing and summarizing all transfers to and expenditures from the oil spill liability trust fund. Each report shall account for each transfer to and expenditure from the fund as authorized by Section 9509 of the Internal Revenue Code of 1986, as amended, and Sections 5003 and 5004 of the Oil Pollution Act of 1990 (Public Law 101–380) [33 U.S.C. 2733, 2734]. The report shall also show amounts collectable under Section 9509(b)(2), (3), and (8) of the Internal Revenue Code of 1986. For those authorized expenditures subject to limitations, the report shall so indicate. The Coast Guard shall confer with the House and Senate Committees on Appropriations as to the format for these reports."]
Pub. L. 101–380, title II, §2003(b), Aug. 18, 1990, 104 Stat. 507 , provided that: "Any amounts remaining in the Deepwater Port Liability Fund established under section 18(f) of the Deepwater Port Act of 1974 (33 U.S.C. [former] 1517(f)) shall be deposited in the Oil Spill Liability Trust Fund established under section 9509 of the Internal Revenue Code of 1986 (26 U.S.C. 9509). The Oil Spill Liability Trust Fund shall assume all liability incurred by the Deepwater Port Liability Fund."
Pub. L. 101–380, title II, §2004, Aug. 18, 1990, 104 Stat. 507 , provided that: "Title III of the Outer Continental Shelf Lands Act Amendments of 1978 (43 U.S.C. 1811–1824) is repealed. Any amounts remaining in the Offshore Oil Pollution Compensation Fund established under section 302 of that title (43 U.S.C. 1812) shall be deposited in the Oil Spill Liability Trust Fund established under section 9509 of the Internal Revenue Code of 1986 (26 U.S.C. 9509). The Oil Spill Liability Trust Fund shall assume all liability incurred by the Offshore Oil Pollution Compensation Fund."
Pub. L. 101–380, title IV, §4304, Aug. 18, 1990, 104 Stat. 540 , provided that: "Penalties paid pursuant to section 311 of the Federal Water Pollution Control Act [33 U.S.C. 1321], section 309(c) of that Act [33 U.S.C. 1319(c)], as a result of violations of section 311 of that Act, and the Deepwater Port Act of 1974 [33 U.S.C. 1501 et seq.], shall be deposited in the Oil Spill Liability Trust Fund created under section 9509 of the Internal Revenue Code of 1986 (26 U.S.C. 9509)."
Pub. L. 99–509, title VIII, §8033(c)(2), Oct. 21, 1986, 100 Stat. 1961 , provided that: "If the Superfund Amendments and Reauthorization Act of 1986 [Pub. L. 99–499, see Short Title of 1986 Amendment note set out under section 9601 of Title 42, The Public Health and Welfare] is enacted-
"(A) subsection (a) of this section shall be applied by substituting 'section 9508' for 'section 9506',
"(B) section 9507 of the Internal Revenue Code of 1954 [now 1986], as added by this section, is hereby redesignated as section 9509 of such Code, and
"(C) in lieu of the amendment made by subsection (b), the table of sections for subchapter A of chapter 98 of such Code is amended by adding after the item relating to section 9508 the following new item:
" 'Sec. 9509. Oil Spill Liability Trust Fund.' "