Summary: S.3580 — 111th Congress (2009-2010)All Information (Except Text)

There is one summary for S.3580. Bill summaries are authored by CRS.

Shown Here:
Introduced in Senate (07/14/2010)

Resources for Oil Spill Research and Prevention Act - Amends the Internal Revenue Code to: (1) increase the Oil Spill Liability Trust Fund financing rate by 3 cents a barrel for domestic crude oil and by 7 cents a barrel for any other crude oil; and (2) repeal the termination date of such financing rate.

Amends the Oil Pollution Act of 1990 to expand the allowable uses of Oil Spill Liability Trust Fund amounts to include: (1) payment of costs incurred by the National Oceanic and Atmospheric Administration (NOAA), the Coast Guard, and other federal agencies to maintain research, prevention, and response capabilities with respect to discharges of oil; (2) payment of costs to carry out environmental assessment studies; and (3) grants to affected states, institutions of higher education, and other entities for research relating to discharges of oil on the Outer Continental Shelf.