Amendment prevents oil companies from shifting oil spill cleanup costs onto taxpayers by ensuring that Oil Pollution Act liabilities of an oil subsidiary will be inherited by the parent oil company in the event the subsidiary goes bankrupt and does not sell its assets. Amendment does not alter underlying liability provisions of OPA, and includes technical corrections from the Department of Justice.

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Amendment Number
772
Description
Amendment prevents oil companies from shifting oil spill cleanup costs onto taxpayers by ensuring that Oil Pollution Act liabilities of an oil subsidiary will be inherited by the parent oil company in the event the subsidiary goes bankrupt and does not sell its assets. Amendment does not alter underlying liability provisions of OPA, and includes technical corrections from the Department of Justice.
Purpose
An amendment numbered 7 printed in Part A of House Report 111-582 to prevent oil companies from shifting oil spill cleanup costs onto taxpayers by ensuring that Oil Pollution Act liabilities of an oil subsidiary will be inherited by the parent oil company in the event the subsidiary goes bankrupt and does not sell its assets. The amendment does not alter underlying liability provisions of OPA, and includes technical corrections from the Department of Justice.
Congress
111
Type
HAMDT
Latest Action Date
Jul 30, 2010
Latest Action Text
On agreeing to the Connolly (VA) amendment (A007) Agreed to by voice vote.
Latest Action Time
16:00:57
Submitted Date
Jul 30, 2010
Chamber
House of Representatives
Update Date
Feb 3, 2022
Amendment 772 — Informed