Sec. 305. Investment of Exxon Valdez oil spill court recovery in high yield investments and marine research
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Section 350 of Public Law 106–113 ( 43 U.S.C. 1474b note) is amended— by striking paragraph (5); by redesignating paragraphs (2), (3), (4), (6), and
(7)as subsections (c), (d), (e), (f), and (g), respectively, and indenting the subsections appropriately; in paragraph (1)— by striking
(1)Notwithstanding any other provision of law and subject to the provisions of paragraphs
(5)and
(7)and inserting the following: In this section: The term Consent Decree means the consent decree issued in United States v. Exxon Corporation, et al. (No. A91-082 CIV) and State of Alaska v. Exxon Corporation, et al. (No. A91–083 CIV). The term Fund means the Natural Resource Damage Assessment and Restoration Fund established pursuant to title I of the Department of the Interior and Related Agencies Appropriations Act, 1992 ( 43 U.S.C. 1474b ). The term outside account means any account outside the United States Treasury. The term Trustee means a Federal or State natural resource trustee for the Exxon Valdez oil spill. Notwithstanding any other provision of law and subject to subsection
(g); in subsection (b)(1) (as so designated)— in the matter preceding subparagraph
(A)by striking issued in United States v. Exxon Corporation, et al. (No. A91–082 CIV) and State of Alaska v. Exxon Corporation, et al. (No. A91–083 CIV) (hereafter referred to as the ; Consent Decree ), by striking subparagraphs
(A)and
(B)and inserting the following: the Fund; an outside account; or ; and in the undesignated matter following subparagraph (C)— by striking the Federal and State natural resource trustees for the Exxon Valdez oil spill ( and inserting trustees ) the Trustees ; and by striking Any funds and inserting the following: Any funds ; in subsection
(c)(as redesignated by paragraph (2)) by striking and inserting the following:
(c)Joint Any joint ; in subsection
(d)(as redesignated by paragraph (2)) by striking and inserting the following:
(d)The transfer The transfer ; in subsection
(e)(as redesignated by paragraph (2))— by striking and inserting the following:
(e)Nothing herein shall affect Nothing in this section affects ; and by striking trustees and inserting Trustees ; in subsection
(f)(as redesignated by paragraph (2))— by striking and inserting the following:
(f)The Federal trustees and the State trustees The Trustees ; and by striking this program and inserting this section, prioritizing the issuance of grants to facilitate habitat protection and habitat restoration programs ; and in subsection
(g)(as redesignated by paragraph (2))— in the second sentence, by striking Upon the expiration of the authorities granted in this section all and inserting the following: On expiration of the authority provided in this section, all ; and by striking and inserting the following:
(g)The authority The authority .
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- Pub. L. 106-113
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Sec. 305
Investment of Exxon Valdez oil spill court recovery in high yield investments and marine research
Pub. L.Pub. L. 106-113
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