Amendment prevents oil companies from shifting oil spill cleanup costs onto taxpayers by ensuring that Oil Pollution Act liabilities of an oil subsidiary will be inherited by the parent oil company in the event the subsidiary goes bankrupt and does not sell its assets. Amendment does not alter underlying liability provisions of OPA, and includes technical corrections from the Department of Justice.

Purpose:

An amendment numbered 7 printed in Part A of House Report 111-582 to prevent oil companies from shifting oil spill cleanup costs onto taxpayers by ensuring that Oil Pollution Act liabilities of an oil subsidiary will be inherited by the parent oil company in the event the subsidiary goes bankrupt and does not sell its assets. The amendment does not alter underlying liability provisions of OPA, and includes technical corrections from the Department of Justice.

House Amendment Code:

(A007)

House Tally Clerks use this code to manage amendment information.