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- S.3150
S.3150: Oil and Gas Payments Taxpayer Protection and Deficit Reduction Act
About This Bill
- Introduced July 7, 2016
- Latest Major Action July 7, 2016
Bill Sponsor
Bill Cosponsor
Bill Summary
Oil and Gas Payments Taxpayer Protection and Deficit Reduction Act This bill amends the Gulf of Mexico Energy Security Act of 2006 to direct the Department of the Treasury to deposit: (1)50% of qualified Outer Continental Shelf (OCS)revenues into the general fund of the Treasury, and (2) 50% of qualified OCS revenues into a special account. Furthermore, 75% of available revenues in the special account must be used to reduce the federal budget...
(Source: Library of Congress)
Bill Actions
| Date | Description |
|---|---|
| July 7, 2016 |
Read twice and referred to the Committee on Energy and Natural Resources.
|
| July 7, 2016 |
Introduced in the Senate by Edward J. Markey (D-Mass.) |