H.R.1762 - Gulf Coast Restoration Act112th Congress (2011-2012)
|Sponsor:||Rep. Bonner, Jo [R-AL-1] (Introduced 05/05/2011)|
|Committees:||House - Transportation and Infrastructure; Natural Resources; Energy and Commerce|
|Latest Action:||05/16/2011 Referred to the Subcommittee on Fisheries, Wildlife, Oceans, and Insular Affairs.|
This bill has the status Introduced
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Summary: H.R.1762 — 112th Congress (2011-2012)All Bill Information (Except Text)
Introduced in House (05/05/2011)
Gulf Coast Restoration Act - Establishes in the Treasury the Gulf Coast Restoration Fund. Requires transfer into such Fund of not less than 80% of all amounts collected as federal penalties, settlements, or fines in relation to the Gulf of Mexico oil spill caused by the Deepwater Horizon drilling unit that began on April 20, 2010.
Establishes the Gulf Coast Restoration Task Force. Directs the Task Force to use the Fund for activities related to Gulf coast economic development, tourism promotion, and ecosystem restoration, by way of grants to the Gulf states of Alabama, Florida, Louisiana, Mississippi, and Texas. Prohibits any state from receiving less than 5% or more than 30% of available amounts.