Sec. 4412. QUALITY BANK ADJUSTMENTS

260 words·~1 min read·/statute-compilations/comps-10915/sec-4412

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## SEC. 4412 QUALITY BANK ADJUSTMENTS ###

(a)Definition of TAPS Quality Bank Adjustments In this section, the term “**TAPS quality bank adjustments**” means monetary adjustments paid by or to a shipper of oil on the Trans Alaska Pipeline System through the operation of a quality bank to compensate for the value of the oil of the shipper that is commingled in the Pipeline. ###

(b)Proceedings ####

(1)In general In a proceeding commenced before the date of enactment of this Act, the Federal Energy Regulatory Commission may not order retroactive changes in TAPS quality bank adjustments for any period before February 1, 2000. ####

(2)Proceedings commenced after the date of enactment In a proceeding commenced after the date of enactment of this Act, the Commission may not order retroactive changes in TAPS quality bank adjustments for any period that exceeds the 15-month period immediately preceding the earliest date of the first order of the Federal Energy Regulatory Commission imposing quality bank adjustments in the proceeding. ###

(c)Deadline for Claims ####

(1)In general A claim relating to a quality bank under this section shall be filed with the Federal Energy Regulatory Commission not later than 2 years after the date on which the claim arose. ####

(2)Final order Not later than 15 months after the date on which a claim is filed under paragraph (1), the Federal Energy Regulatory Commission shall issue a final order with respect to the claim. * * * * * * * # TITLE V RESEARCH ## Subtitle A Funding