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43 U.S.C. § 1338a — Moneys received as a result of forfeiture by Outer Continental Shelf permittee, lessee, or right-of-way holder; deposits and transfers to decommissioning account; return of excess amounts

submitted 2 years ago by Pub. L. 118-42 to r/title-43-PUBLIC-LANDS · 260 words · no verdicts yet

in plain englishAI-generated · not legal advice

This section sets rules about moneys received as a result of forfeiture by Outer Continental Shelf permittee, lessee, or right-of-way holder; deposits and transfers to decommissioning account; return of excess amounts. It assigns the stated duties and permissions and sets the stated limits, procedures, and exceptions.

Notwithstanding section 3302 of title 31, any moneys hereafter received as a result of the forfeiture of a bond or other security by an Outer Continental Shelf permittee, lessee, or right-of-way holder that does not fulfill the requirements of its permit, lease, or right-of-way or does not comply with the regulations of the Secretary, or as a bankruptcy distribution or settlement associated with such failure or noncompliance, must be credited to a separate account established in the Treasury for decommissioning activities and must be available to the Bureau of Ocean Energy Management without further appropriation or fiscal year limitation to cover the cost to the United States of any improvement, protection, rehabilitation, or decommissioning work rendered necessary by the action or inaction that led to the forfeiture or bankruptcy distribution or settlement, to remain available until expended: Also, That amounts deposited into the decommissioning account may be allocated to the Bureau of Safety and Environmental Enforcement for such costs: Also, That any moneys received for such costs currently held in the Ocean Energy Management account must be transferred to the decommissioning account: Also, That any portion of the moneys so credited must be returned to the bankruptcy estate, permittee, lessee, or right-of-way holder to the extent that the money is in excess of the amount expended in performing the work necessitated by the action or inaction which led to their receipt or, if the bond or security was forfeited for failure to pay the civil penalty, in excess of the civil penalty imposed.

the actual law source: uscode.house.gov ↗public domain

Notwithstanding section 3302 of title 31, any moneys hereafter received as a result of the forfeiture of a bond or other security by an Outer Continental Shelf permittee, lessee, or right-of-way holder that does not fulfill the requirements of its permit, lease, or right-of-way or does not comply with the regulations of the Secretary, or as a bankruptcy distribution or settlement associated with such failure or noncompliance, shall be credited to a separate account established in the Treasury for decommissioning activities and shall be available to the Bureau of Ocean Energy Management without further appropriation or fiscal year limitation to cover the cost to the United States of any improvement, protection, rehabilitation, or decommissioning work rendered necessary by the action or inaction that led to the forfeiture or bankruptcy distribution or settlement, to remain available until expended: Provided further, That amounts deposited into the decommissioning account may be allocated to the Bureau of Safety and Environmental Enforcement for such costs: Provided further, That any moneys received for such costs currently held in the Ocean Energy Management account shall be transferred to the decommissioning account: Provided further, That any portion of the moneys so credited shall be returned to the bankruptcy estate, permittee, lessee, or right-of-way holder to the extent that the money is in excess of the amount expended in performing the work necessitated by the action or inaction which led to their receipt or, if the bond or security was forfeited for failure to pay the civil penalty, in excess of the civil penalty imposed.

Source credit: (Pub. L. 118–42, div. E, title I, § 123, Mar. 9, 2024, 138 Stat. 249.)

history & why it existsrecord from the source credit
  • 2024Enacted · Pub. L. 118-42 · 138 Stat. 249

A history note hasn’t been published yet. The record shows enactment by Pub. L. 118-42 on 2024-03-09.

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