S.1762 - End Polluter Welfare Act of 2013113th Congress (2013-2014)
|Sponsor:||Sen. Sanders, Bernard [I-VT] (Introduced 11/21/2013)|
|Committees:||Senate - Finance|
|Latest Action:||11/21/2013 Read twice and referred to the Committee on Finance.|
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Summary: S.1762 — 113th Congress (2013-2014)All Bill Information (Except Text)
Introduced in Senate (11/21/2013)
End Polluter Welfare Act of 2013 - Amends the Outer Continental Shelf Lands Act and the Energy Policy Act of 2005 to repeal the authority of the Secretary of the Interior to reduce or eliminate royalty payments for oil and natural gas leases in the Outer Continental Shelf.
Amends the Mineral Leasing Act to increase minimum royalty payments for coal, oil, and natural gas leases.
Repeals the program for ultra-deepwater and unconventional natural gas and other petroleum resource exploration and production.
Amends the Oil Pollution Act to eliminate the limitation on liability for offshore facilities and pipeline operators for oil spills.
Rescinds all unobligated balances made available to the World Bank, the Overseas Private Investment Corporation (OPIC), the Export-Import Bank, the Advanced Research Projects Agency in the Department of Defense (DOD), and other international financing entities to carry out any project that supports fossil fuel (i.e., coal, petroleum, natural gas, or any derivatives used for fuel).
Terminates the Office of Fossil Energy Research and Development in the Department of Energy (DOE) and the authority to carry out any of its programs.
Amends the Energy Policy Act of 2005 to eliminate from the categories of projects eligible for loan guarantees for innovative technologies: (1) projects involving advanced fossil energy technology, and (2) and crude oil refineries.
Prohibits the Secretary of Agriculture from making loans under the Rural Electrification Act of 1936 to carry out projects that will use fossil fuel.
Prohibits the use of Department of Transportation (DOT) funds to award any grant or other direct assistance to any rail or port project that transports fossil fuel.
Amends the Internal Revenue Code to: (1) limit or repeal provisions allowing tax incentives for investment in fossil fuels, (2) increase the Oil Spill Liability Trust Fund financing rate, and (3) impose a 13% tax on the removal price of any taxable crude oil or natural gas from the Outer Continental Shelf in the Gulf of Mexico.Designates the Powder River Basin in southeast Montana and northeast Wyoming as a coal producing region.
Eliminates accelerated depreciation for property that is receiving a subsidy for fossil fuel production.