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Title I — Deficit Reduction Energy Security

H.R. 70 · 113th Congress · Jan 3, 2013 · Lineage

I Deficit Reduction Energy Security

Sec. 101 Deficit Reduction Acreage

(a)
In general— The Secretary of the Interior shall, during the period covered by the Proposed Outer Continental Shelf Oil and Gas Leasing Program for 2012–2017 issued by the Department of the Interior, and in addition to the acreage proposed to be leased under such program, conduct oil and gas lease sales under the Outer Continental Shelf Lands Act (43 U.S.C. 1331 et seq.) for additional acreage of the outer Continental Shelf (as that term is used in that Act) that total 10 percent of the acreage proposed to be leased under such program. The acreage for which lease sales are required under this section shall be known as the Deficit Reduction Acreage.
(b)
Annual requirement— In each year in such period, the Secretary shall lease 20 percent of the Deficit Reduction Acreage.

Sec. 102 Deficit Reduction Energy Security Fund and Coastal and Ocean Sustainability and Health Fund

(a)
Deficit Reduction Energy Security Fund—
(1)
In general— There is hereby established in the Treasury a separate account to be known as the Deficit Reduction Energy Security Fund, consisting of such amounts as may be appropriated or credited to it.
(2)
Deposit of Deficit Reduction Acreage lease revenues—
(A)
In general— Except as provided in subparagraph (C), all rentals, royalties, bonus bids, and other sums due and payable to the United States under Deficit Reduction Acreage lease sales during the 15-fiscal-year period beginning with the first fiscal year in which such sums are received by the United States shall be deposited in the DRES fund.
(B)
Holding of oil and gas revenues— Any amount deposited into the DRES Fund under subparagraph (A)—
(i)
shall remain in DRES Fund and be invested in accordance with paragraph (2) until the end of the second full fiscal year after the amount is deposited into the DRES Fund; and
(ii)
upon the end of such fiscal year, shall be transferred to the general fund and applied solely to reduce the annual Federal budget deficit.
(C)
Payments to States not affected— This Act shall not affect any requirement under other law to pay to States amounts received by the United States as such royalties, bonus bids, and other sums due and payable to the United States.
(3)
Investment—
(A)
In general— Amounts in the DRES Fund shall be invested by the Secretary of the Treasury in accordance with section 9602 of the Internal Revenue Code of 1986.
(B)
Inclusion of interest in DRES Fund— All interest earned on, and the proceeds from the sale or redemption of, any obligations held in the DRES Fund—
(i)
shall be credited to and form part of the DRES Fund; and
(ii)
shall remain in the DRES Fund until transferred under paragraph (5), without regard to paragraph (2)(B)(ii).
(4)
Availability of proceeds of deposits— Amounts credited to the DRES Fund under paragraph (3)(B) in excess of the amounts deposited into the DRES Fund under paragraph (2) shall—
(A)
be available for expenditure, without further appropriation, solely for the purpose of and activities eligible under this Act; and
(B)
remain available until expended, without fiscal year limitation.
(5)
Transfer of interest to Coastal and Ocean Sustainability and Health Fund— Upon the transfer of an amount under paragraph (2)(B)(ii), the interest earned on such amount shall be transferred to the Coastal and Ocean Sustainability and Health Fund established under subsection (b).
(b)
Coastal and Ocean Sustainability and Health Fund—
(1)
In general— There is hereby established in the Treasury a separate account to be known as the Coastal and Ocean Sustainability and Health Fund, consisting of such amounts of interest as are transferred to it under subsection (a)(5).
(2)
Availability— Of the amounts transferred to the COSH Fund under subsection (a)(5) each fiscal year—
(A)
not more than 5 percent shall be available to the Secretary of Commerce to administer this title; and
(B)
the remainder shall be available to the Secretary of Commerce until expended and without fiscal year limitation, for use for—
(i)
the Coastal and Ocean Disaster Grant Program under section 102; and
(ii)
the National Grant Program under section 103.
(3)
Allocation of funding for grant programs— Of amounts available under paragraph (2)(B), the Secretary of Commerce shall allocate—
(A)
40 percent for the Coastal and Ocean Disaster Grant Program under section 103, of which—
(i)
50 percent shall be allocated equally among impacted coastal States;
(ii)
20 percent shall be allocated based on intensity of impact of disasters on impacted coastal States;
(iii)
15 percent shall be allocated based on tidal shorelines of impacted coastal States; and
(iv)
15 percent of the funds shall be allocated based on the coastal population of impacted coastal States.
(B)
Sixty percent for the National Grant Program for Coastal and Ocean Sustainability and Health under section 104, of which—
(i)
50 percent shall be allocated to coastal States;
(ii)
50 percent shall be allocated to any State, local, territory, and tribal governments, institutions of higher learning, and non-profit and for-profit organizations that may receive and expend Federal funds as legal entities; and
(iii)
no more than 10 percent of the total amount of funds available shall be allocated to a single State or entity in a fiscal year.
(c)
General administrative charges prohibited— Grants issued under this Act shall not be subject to a general administrative charge.
(d)
Redeposit of unused funds— Any funds provided as a grant under this title that are not used by the grantee by the end of the fiscal year following the first fiscal year for which they were allocated shall be redeposited into the COSH Fund and be reallocated in accordance with this section.

Sec. 103 Coastal and Ocean Disaster Grant Program

(a)
In general— The Secretary of Commerce shall use amounts allocated under section 102(b)(2)(B)(i) to make grants to coastal States and Indian tribes impacted by coastal or ocean disasters for the purposes of restoring, mitigating, monitoring, or otherwise managing coastal and ocean natural resources impacted by such disasters.
(b)
Eligibility—
(1)
First 5 years— During the 5-fiscal year period beginning with the first fiscal year for which amounts are available for grants under this section, a coastal State or Indian tribe shall be eligible for a grant under this section only if—
(A)
it is one of the States of Texas, Louisiana, Mississippi, Alabama, and Florida, or an Indian tribe in such State; or
(B)
it is determined by the Secretary, in that period, to be a coastal State that has been impacted by a coastal or ocean disaster.
(2)
After first 5 years— After the end of such 5-fiscal-year period, if the Secretary determines for a fiscal year that there is no coastal State that has been so impacted, the amount allocated for that fiscal year for grants under this section shall be added to the amounts allocated for that fiscal year under section 102(b)(2)(B)(ii) for the National Grant Program for Coastal and Ocean Sustainability and Health.
(3)
Limitation— A coastal State or Indian tribe shall not be eligible for a grant under this section if it is receiving assistance under another Federal law for an activity described in section 105(b) conducted for a purpose referred to in subsection (a).

Sec. 104 National Grant Program for Coastal and Ocean Sustainability and Health

(a)
In general— The Secretary of Commerce shall use amounts allocated under section 102(b)(2)(B)(ii) (including amounts added under section 103(b)(2)) to make grants to coastal States that are eligible under subsection (b).
(b)
Eligibility— To be eligible for a grant under this section, a person—
(1)
must be—
(A)
a coastal State that has a management program approved by the Secretary under section 306 of the Coastal Zone Management Act of 1972 (16 U.S.C. 1455); or
(B)
a State, local, territory, or tribal government, institution of higher learning, or nonprofit or and for-profit organization that may receive and expend Federal funds as a legal entity; and
(2)
must submit to the Secretary a multiyear plan for use of the grant that—
(A)
specifies how the grant funds will be allocated;
(B)
is sufficiently flexible to allow the coastal State to respond to emerging needs; and
(C)
is approved by the Secretary.

Sec. 105 Eligible uses of grants

(a)
In general— Amounts provided as a grant under this title shall be used for activities described in subsection (b) that are intended to restore, protect, maintain, manage, or understand marine resources and their habitats and resources in coastal and ocean waters, including baseline scientific research and other activities carried out in coordination with Federal and State departments or agencies, that are consistent with Federal environmental laws, and that avoid environmental degradation.
(b)
Included activities— Activities referred to in subsection (a) include—
(1)
coastal management planning and implementation under the Coastal Zone Management Act of 1972;
(2)
coastal and estuarine land protection, including the protection of the environmental integrity of important coastal and estuarine areas, such as wetlands and forests, that have significant conservation, recreation, ecological, historical, or aesthetic values, or that are threatened by conversion to other uses;
(3)
efforts to protect and manage living marine resources, including fisheries, coral reefs, research, management, and enhancement;
(4)
programs, activities, and new technology designed to improve or complement the management and mission of national marine sanctuaries, marine monuments, national estuarine research reserves, and marine protected areas;
(5)
mitigation, restoration, protection, and relocation of coastal communities threatened by the impacts of climate change;
(6)
mitigation of the effects of offshore activities, including environmental restoration;
(7)
efforts to acquire, protect and restore coastal lands and wetlands, and to restore or prevent damage to wetlands in the coastal zone, coastal estuaries, and lands, life, and property in the coastal zone;
(8)
management of non-point sources of coastal and marine pollution;
(9)
long-term coastal and ocean research and education, monitoring, and natural resource management;
(10)
regional multi-State management efforts designed to manage, protect, or restore the coastal zone and ocean resources; or
(11)
management and administration of authorized activities.

Sec. 106 Grant application

A person seeking a grant under this section shall submit to the Secretary an application at such time, in such manner, and containing such information as the Secretary determines to be appropriate.