Sec. 209. Increase in oil spill liability trust fund financing rate
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Section 4611 of the Internal Revenue Code of 1986 is amended— in subsection (c)(2)(B)— in clause (i), by striking and at the end, in clause (ii), by striking the period at the end and inserting , and , and by adding at the end the following: in the case of crude oil received or petroleum products entered after December 31, 2024, 10 cents a barrel. , and by striking subsection
(f)and inserting the following: The Oil Spill Liability Trust Fund financing rate under subsection
(c)shall apply on and after April 1, 2006, or if later, the date which is 30 days after the last day of any calendar quarter for which the Secretary estimates that, as of the close of that quarter, the unobligated balance in the Oil Spill Liability Trust Fund is less than $2,000,000,000. . The amendments made by this section shall apply to crude oil received and petroleum products entered after December 31, 2024.