Bill
Bill > S3611
summary
Introduced
05/05/2020
05/05/2020
In Committee
05/05/2020
05/05/2020
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
116th Congress
Bill Summary
A bill to amend the Mineral Leasing Act and the Outer Continental Shelf Lands Act to limit the authority of the Secretary of the Interior to reduce certain royalties, to amend the CARES Act to limit the provision of assistance to certain businesses, to impose a moratorium on certain oil and natural gas lease sales, the issuance of coal leases, and modifications to certain regulations, to extend certain public comment periods, and for other purposes. This bill limits the financial assistance that fossil fuel companies may receive from programs that provide relief to businesses affected by the COVID-19 (i.e., coronavirus disease 2019) outbreak, the Department of Interior's authority with respect to fossil fuels, the types and amount of oil that may be placed in the Strategic Petroleum Reserve (SPR), and the issuance or modification of rules until the COVID-19 national emergency terminates. Specifically, it prohibits fossil fuel businesses from receiving financial assistance, loans, and loan guarantees under specified provisions of the Defense Production Act of 1950 and the Coronavirus Aid, Relief, and Economic Security Act or the CARES Act. Further, certain financial institutions (e.g., banks) that receive funding under the CARES Act may not operate or invest in such businesses for two years. In addition, Interior may not (1) conduct lease sales for oil or natural gas; (2) issue leases for oil, natural gas, or coal; (3) modify regulations related to fossil fuel; or (4) reduce or eliminate royalty rates for fossil fuel leases on federal lands and in federal waters. The bill decreases the storage cap on the SPR and declares that privately-owned oil may not be stored in the SPR. Finally, the bill suspends the issuance of new rules until the national emergency terminates unless the rules are specifically required to respond to, or recover from, COVID-19.
AI Summary
This bill, the Resources for Workforce Investments, Not Drilling Act or the ReWIND Act, aims to limit the financial assistance and government support that fossil fuel companies can receive during the COVID-19 (coronavirus disease 2019) pandemic. Specifically, it prohibits fossil fuel businesses from receiving loans, loan guarantees, or other financial assistance under the CARES Act (Coronavirus Aid, Relief, and Economic Security Act) or the Defense Production Act of 1950. It also restricts certain financial institutions, like banks, that receive CARES Act funding from investing in or operating fossil fuel businesses for two years. Additionally, the bill places a moratorium on new oil, natural gas, and coal leases, as well as modifications to regulations related to fossil fuels, until the COVID-19 national emergency ends. It also reduces the storage capacity of the Strategic Petroleum Reserve and prohibits the storage of privately-owned oil in the Reserve. Finally, the bill suspends the issuance of new federal rules until the COVID-19 national emergency is terminated, unless the rules are specifically required to respond to or recover from the pandemic.
Committee Categories
Agriculture and Natural Resources
Sponsors (10)
Jeff Merkley (D)*,
Richard Blumenthal (D),
Cory Booker (D),
Kirsten Gillibrand (D),
Kamala Harris (D),
Ed Markey (D),
Bernie Sanders (I),
Chris Van Hollen (D),
Elizabeth Warren (D),
Ron Wyden (D),
Last Action
Read twice and referred to the Committee on Energy and Natural Resources. (on 05/05/2020)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/116th-congress/senate-bill/3611/all-info |
| BillText | https://www.congress.gov/116/bills/s3611/BILLS-116s3611is.pdf |
| Bill | https://www.congress.gov/116/bills/s3611/BILLS-116s3611is.pdf.pdf |
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