S.Amdt. 1435

SA 1435. Mr. MENENDEZ submitted an amendment intended to be proposed
to amendment SA 1407 submitted by Ms. Murkowski and intended to be
proposed to the bill S. 2657, to support innovation in advanced
geothermal research and development, and for other purposes; which was
ordered to lie on the table; as follows:

At the end, add the following:

TITLE IV--OIL SPILL LIABILITY

SEC. 4001. OIL SPILL LIABILITY TRUST FUND.

(a) Limitations on Expenditures and Authority To Borrow.--
Section 9509 of the Internal Revenue Code of 1986 is
amended--
(1) in subsection (c)--
(A) by striking paragraph (2);
(B) by striking ``Expenditures'' and all that follows
through ``Amounts in'' and inserting ``Expenditures.--Amounts
in''; and
(C) by redesignating subparagraphs (A) through (F) as
paragraphs (1) through (6), respectively, and indenting
appropriately;
(2) in subsection (d)--
(A) by striking paragraph (2);
(B) by redesignating paragraph (3) as paragraph (2); and
(C) in paragraph (2), as so redesignated--
(i) by striking subparagraph (B); and
(ii) by redesignating subparagraph (C) as subparagraph (B);
and
(3) in subsection (e)(3)--
(A) by striking ``(or is unable by reason of subsection
(c)(2))''; and
(B) by striking ``and such subsection''.

SEC. 4002. ADVANCE PAYMENTS.

Section 1012 of the Oil Pollution Act of 1990 (33 U.S.C.
2712) is amended by adding at the end the following:
``(m) Advance Payments.--The President shall promulgate
regulations that allow advance payments to be made from the
Fund to States and political subdivisions of States for
actions taken to prepare for and mitigate substantial threats
from the discharge of oil.''.
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