Sec. 4. Uses of oil spill liability trust fund
278 words·~1 min read·
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Section 1012(a) of the Oil Pollution Act of 1990 ( 33 U.S.C. 2712(a) ) is amended— in paragraph (4), by striking and at the end; in paragraph (5)(D), by striking the period and inserting ; and ; and by adding at the end the following: the payment of costs associated with the collection and disposal of an abandoned vessel, including a derelict vessel, by the President if— such collection and disposal is determined to be in the public interest by the Federal Government, a State, or an Indian tribe; and a determination that the vessel is abandoned is made by the Commandant of the Coast Guard in accordance with section 4711 of title 46, United States Code. .
The cumulative cost for the collection and disposal of abandoned vessels, including derelict vessels, described in section 1012(a)(6) of the Oil Pollution Act of 1990 (as added by subsection (a)) in a calendar year shall be deemed to be a single incident for purposes of section 9509 of the Internal Revenue Code of 1986. The owner of any abandoned vessel, including a derelict vessel, collected and disposed of using funds from the Oil Spill Liability Trust Fund pursuant to section 1012(a)(6) of the Oil Pollution Act of 1990 (as added by subsection (a)) shall be liable to the United States for the costs of such collection and disposal and such costs shall be deemed to be amounts described in section 9509(b)(2) of the Internal Revenue Code.
Section 9509(f) of the Internal Revenue Code of 1986 is amended by inserting before the period at the end , except with respect to section 1012(a)(6) of the Oil Pollution Act of 1990 .