Sec. 12531. National oilheat research alliance
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/bill/115/hr/2/enr/section-12531·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 713 of the National Oilheat Research Alliance Act of 2000 ( 42 U.S.C. 6201 note; Public Law 106–469 ) is amended by striking 18 years and inserting 28 years . The National Oilheat Research Alliance Act of 2000 ( 42 U.S.C. 6201 note; Public Law 106–469 ) is amended by inserting after section 707 the following: In each calendar year of the covered period, the Alliance may not obligate an amount greater than the sum of— 75 percent of the amount of assessments estimated to be collected under section 707 in that calendar year; 75 percent of the amount of assessments actually collected under section 707 in the most recent calendar year for which an audit report has been submitted under section 706(f)(2)(B) as of the beginning of the calendar year for which the amount that may be obligated is being determined, less the estimate made pursuant to paragraph
(1)for that most recent calendar year; and amounts permitted in preceding calendar years to be obligated pursuant to this subsection that have not been obligated. Assessments collected under section 707 in excess of the amount permitted to be obligated under subsection
(a)in a calendar year shall be deposited in an escrow account for the duration of the covered period. During the covered period, the Alliance may not obligate, expend, or borrow against amounts required under subsection
(b)to be deposited in the escrow account. Any interest earned on amounts described in paragraph
(1)shall be— deposited in the escrow account; and unavailable for obligation for the duration of the covered period. Beginning on October 1, 2028, the Alliance may withdraw and obligate any amount in the escrow account. In this section, the term covered period means the period that begins on February 6, 2019, and ends on September 30, 2028. . The National Oilheat Research Alliance Act of 2000 ( 42 U.S.C. 6201 note; Public Law 106–469 ) is amended— in section 706(d)(1), by striking not exceed 7 percent of the amount of assessments collected in any calendar year, except that during the first year of operation of the Alliance such expenses and amounts shall not exceed 10 percent of the amount of assessments and inserting not exceed 7 percent of the amount of assessments collected in any calendar year that are permitted to be obligated in that calendar year ; and in section 707— in subsection (e), by inserting that are permitted to be obligated after amount of assessments collected in the State each place it appears; and in subsection (f), by inserting and permitted to be obligated after assessments collected each place it appears.
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- Pub. L. 106-469
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