A bill to establish study and research programs to insure that the extraction and transportation of offshore oil shall not endanger the marine environment, to amend the Internal Revenue Code of 1954 to provide for an offshore oil extraction excise tax.
Offshore Oil Safety Act - Requires the Administrator of the Environmental Protection Agency to establish study and research programs to insure that the extraction and transportation of offshore oil shall not endanger the marine environment. Imposes an excise tax of 12 cents per barrel upon the extraction of oil from every offshore site. Establishes in the department of the Treasury an "Offshore Oil Safety Trust Fund". Provides that accounts in the trust fund shall be available for making expenditures to carry out this Act.
Introduced in House
Introduced in House
Referred to House Committee on Ways and Means.
checking server…
Ask anything about this bill. The AI reads the full text to answer.
Enter to send · Shift+Enter for new line