Sec. 1361. OIL SPILL LIABILITY TRUST FUND FINANCING RATE
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## SEC. 1361 OIL SPILL LIABILITY TRUST FUND FINANCING RATE Section 4611(f) (relating to application of oil spill liability trust fund financing rate) is amended to read as follows: > > ### “(f) Application of Oil Spill Liability Trust Fund Financing Rate > > > #### “(1) In general > > Except as provided in paragraphs
(2)and (3), 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. > > > #### “(2) Fund balance > > The Oil Spill Liability Trust Fund financing rate shall not apply during a calendar quarter if the Secretary estimates that, as of the close of the preceding calendar quarter, the unobligated balance in the Oil Spill Liability Trust Fund exceeds $2,700,000,000. > > > #### “(3) Termination > > The Oil Spill Liability Trust Fund financing rate shall not apply after December 31, 2014.” > .