S.Amdt. 1849

SA 1849. Mr. BENNET submitted an amendment intended to be proposed by
him to the bill H.R. 1, to provide for reconciliation pursuant to
titles II and V of the concurrent resolution on the budget for fiscal
year 2018; which was ordered to lie on the table; as follows:

Strike title II and insert the following:

TITLE II

SEC. 20001. LIMITATIONS ON AMOUNT OF DISTRIBUTED QUALIFIED
OUTER CONTINENTAL SHELF REVENUES.

Section 105(f)(1) of the Gulf of Mexico Energy Security Act
of 2006 (43 U.S.C. 1331 note; Public Law 109-432) is amended
by striking ``exceed $500,000,000 for each of fiscal years
2016 through 2055.'' and inserting the following: ``exceed--
``(A) $500,000,000 for each of fiscal years 2016 through
2019;
``(B) $650,000,000 for each of fiscal years 2020 and 2021;
and
``(C) $500,000,000 for each of fiscal years 2022 through
2055.''.

SEC. 20002. STRATEGIC PETROLEUM RESERVE DRAWDOWN AND SALE.

(a) Drawdown and Sale.--
(1) In general.--Notwithstanding section 161 of the Energy
Policy and Conservation Act (42 U.S.C. 6241), except as
provided in subsections (b) and (c), the Secretary of Energy
shall draw down and sell from the Strategic Petroleum Reserve
25,000,000 barrels of crude oil during the period of fiscal
years 2026 through 2027.
(2) Deposit of amounts received from sale.--Amounts
received from a sale under paragraph (1) shall be deposited
in the general fund of the Treasury during the fiscal year in
which the sale occurs.
(b) Emergency Protection.--The Secretary of Energy shall
not draw down and sell crude oil under subsection (a) in a
quantity that would limit the authority to sell petroleum
products under subsection (h) of section 161 of the Energy
Policy and Conservation Act (42 U.S.C. 6241) in the full
quantity authorized by that subsection.
(c) Limitation.--The Secretary of Energy shall not drawdown
or conduct sales of crude oil under subsection (a) after the
date on which a total of $1,325,000,000 has been deposited in
the general fund of the Treasury from sales authorized under
that subsection.

SEC. 20003. AUTHORIZED USES OF ENERGY SECURITY AND
INFRASTRUCTURE MODERNIZATION FUND.

(a) Purpose.--The purpose of this section is to amend the
Bipartisan Budget Act of 2015 (Public Law 114-74; 129 Stat.
584)--
(1) to increase national security; and
(2) to increase the ability of the United States to respond
to disasters.
(b) Use of Fund.--Section 404(d)(2)(B) of the Bipartisan
Budget Act of 2015 (42 U.S.C. 6239 note; Public Law 114-74)
is amended--
(1) in clause (ii), by striking ``and'';
(2) in clause (iii), by striking the period at the end and
inserting ``; and''; and
(3) by adding at the end the following:
``(iv) the conduct of activities to modernize Strategic
Petroleum Reserve facilities, including each of the Strategic
Petroleum Reserve storage sites in the States of Louisiana
and Texas.''.
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