§4505 — Title 15 Commerce and Trade | U.S. Code

Summary

The Secretary must send several reports to Congress about money collected and paid out for oil-pricing cases. Within 60 days after October 21, 1986, the Secretary must report all receipts, payments, and commitments of restitutionary amounts as of that date that came from any court or administrative action to enforce crude oil and petroleum product pricing or allocation rules under the Emergency Petroleum Allocation Act of 1973 or the Economic Stabilization Act of 1970, or under section 155 of Public Law 97–377. Starting in fiscal year 1987, the Secretary must send a yearly report on collecting deficiency funds that go into the M.D.L. No. 378 escrow account until those funds are fully paid. The Secretary must also track how States use any funds the court disbursed in the M.D.L. No. 378 case (including administrative costs and attorneys’ fees), in a way similar to section 155 of Public Law 97–377. On March 1 each year beginning in 1987, and until all restitutionary amounts covered by section 4501(a) are collected and paid out, the Secretary must send an estimate (as described in section 4502(c)) of the “excess amount” for the next fiscal year (the year starting the next October 1). All reports go to the House Committee on Energy and Commerce and the Senate Committee on Energy and Natural Resources.

Title 15, §4505

Commerce and Trade — Source: USLM XML via OLRC

(a)The Secretary shall transmit, not later than 60 days after October 21, 1986, a report to the committees referred to in subsection (d) containing a clear and complete statement of all receipts, disbursements, and commitments of restitutionary amounts, as of October 21, 1986, by the Secretary pursuant to—

(1)any judicial or administrative proceeding (including any settlement agreement or declaratory judgment) instituted at any time by the Secretary to enforce the crude oil and petroleum product pricing and allocation regulations issued under the Emergency Petroleum Allocation Act of 1973 [15 U.S.C. 751 et seq.] or the Economic Stabilization Act of 1970; or

(2)section 155 of Public Law 97–377.

(b)The Secretary shall transmit a report each fiscal year, beginning in fiscal year 1987, to such committees on the status of collections by the Secretary of deficiency funds to be deposited into the M.D.L. No. 378 escrow account established by the United States District Court for the District of Kansas until all such deficiency funds have been paid. The Secretary shall, in a manner substantially similar to that required by section 155 of Public Law 97–377 with respect to amounts disbursed under such section, monitor the disposition by the States of any funds disbursed to the States by the court pursuant to the opinion and order of such District Court, dated July 7, 1986, with respect to In Re: the Department of Energy Stripper Well Exemption Litigation, M.D.L. No. 378, including the use of such funds for administrative costs and attorneys fees.

(c)The Secretary shall transmit, on March 1 of each year beginning with 1987 and continuing until all the restitutionary amounts to which section 4501(a) of this title applies have been collected and disbursed as provided in this chapter, a report to such committees containing an estimate of the amount that will be determined under section 4502(c) 11 See References in Text note below. of this title to be the excess amount for purposes of section 4502(d)(1)(B) 1 of this title for the fiscal year beginning the next October 1.

(d)The reports required by this chapter shall be transmitted to the Committee on Energy and Commerce of the House of Representatives and the Committee on Energy and Natural Resources of the Senate.

Notes & Related Subsidiaries

Editorial Notes

References in Text

The Emergency Petroleum Allocation Act of 1973, referred to in subsec. (a)(1), is Pub. L. 93–159, Nov. 27, 1973, 87 Stat. 628, which was classified generally to chapter 16A (§ 751 et seq.) of this title, was omitted from the Code pursuant to section 760g of this title, which provided for the expiration of the President’s authority under that chapter on Sept. 30, 1981. The Economic Stabilization Act of 1970, referred to in subsec. (a)(1), is title II of Pub. L. 91–379, Aug. 15, 1970, 84 Stat. 799, formerly set out as an Economic Stabilization Provisions note under section 1904 of Title 12, Banks and Banking. section 155 of Public Law 97–377, referred to in subsecs. (a)(2), (b), is section 155 of Pub. L. 97–377, title I, Dec. 21, 1982, 96 Stat. 1919, which is not classified to the Code. section 4502(c) and (d) of this title, referred to in subsec. (c), was repealed by section 4502(e) of this title.

Statutory Notes and Related Subsidiaries

Change of Name

Committee on Energy and Commerce of House of Representatives treated as referring to Committee on Commerce of House of Representatives by section 1(a) of Pub. L. 104–14, set out as a note preceding section 21 of Title 2, The Congress. Committee on Commerce of House of Representatives changed to Committee on Energy and Commerce of House of Representatives, and jurisdiction over matters relating to securities and exchanges and insurance generally transferred to Committee on Financial Services of House of Representatives by House Resolution No. 5, One Hundred Seventh Congress, Jan. 3, 2001.

§4505 Reports