§1338a Moneys Received as a Result of Forfeiture by Outer Continental Shelf Permittee, Lessee, or Right-of-way Holder; Deposits and Transfers to Decommissioning Account; Return of Excess Amounts

Summary

Credit money from forfeited bonds, other security, or bankruptcy payouts tied to an Outer Continental Shelf permittee, lessee, or right‑of‑way holder who failed to meet permit or regulatory duties into a special Treasury account for decommissioning. That money is available to the Bureau of Ocean Energy Management without needing a new appropriation and with no time limit. It can pay for work caused by the failure, such as improvements, protection, repairs, or removal and cleanup. Amounts from the decommissioning account may be given to the Bureau of Safety and Environmental Enforcement for those costs. Any like funds now in the Ocean Energy Management account must be moved into the decommissioning account. If money remains after paying for the necessary work, or more than the civil penalty when a bond was forfeited for nonpayment, the extra must be returned to the bankruptcy estate, permittee, lessee, or right‑of‑way holder.