ReWIND Act

II 116TH CONGRESS 2D SESSION S. 3611 To amend the Mineral Leasing Act and the Outer Continental Shelf Lands Act to limit the authority of the Secretary of the Interior to reduce certain royalties, to amend the CARES Act to limit the provision of assistance to certain businesses, to impose a moratorium on certain oil and natural gas lease sales, the issuance of coal leases, and modifica- tions to certain regulations, to extend certain public comment periods, and for other purposes. IN THE SENATE OF THE UNITED STATES MAY 5, 2020 Mr. MERKLEY (for himself, Mr. SANDERS, Mr. MARKEY, Mr. WYDEN, Ms. HARRIS, Mr. BOOKER, Mrs. GILLIBRAND, Mr. BLUMENTHAL, and Ms. WARREN) introduced the following bill; which was read twice and referred to the Committee on Energy and Natural Resources A BILL To amend the Mineral Leasing Act and the Outer Conti- nental Shelf Lands Act to limit the authority of the Secretary of the Interior to reduce certain royalties, to amend the CARES Act to limit the provision of assist- ance to certain businesses, to impose a moratorium on certain oil and natural gas lease sales, the issuance of coal leases, and modifications to certain regulations, to extend certain public comment periods, and for other purposes. VerDate Sep 11 2014 18:36 May 07, 2020 Jkt 099200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6652 E:\BILLS\S3611.IS S3611 pamtmann on DSKBC07HB2PROD with BILLS 2 •S 3611 IS Be it enacted by the Senate and House of Representa- 1 tives of the United States of America in Congress assembled, 2 SECTION 1. SHORT TITLE. 3 This Act may be cited as the ‘‘Resources for Work- 4 force Investments, Not Drilling Act’’ or the ‘‘ReWIND 5 Act’’. 6 SEC. 2. LIMITATION ON CERTAIN FORMS OF ASSISTANCE 7 UNDER THE CARES ACT. 8 (a) EXCLUSION OF CERTAIN BUSINESSES FROM FI- 9 NANCIAL ASSISTANCE.— 10 (1) DEFINITION OF ELIGIBLE BUSINESS.—Sec- 11 tion 4002(4)(B) of the CARES Act (Public Law 12 116–136; 134 Stat. 281) is amended by inserting 13 ‘‘(other than a United States business for which not 14 less than 15 percent of the revenue is derived from 15 the extraction, transport, storage, export, or refining 16 of oil, natural gas, and coal)’’ after ‘‘United States 17 business’’. 18 (2) LOANS AND LOAN GUARANTEES FOR BUSI- 19 NESSES CRITICAL TO MAINTAINING NATIONAL SECU- 20 RITY.—Section 4003(b)(3) of the CARES Act (Pub- 21 lic Law 116–136; 134 Stat. 281) is amended by in- 22 serting ‘‘(other than a United States business for 23 which not less than 15 percent of the revenue is de- 24 rived from the extraction, transport, storage, export, 25 VerDate Sep 11 2014 20:26 May 08, 2020 Jkt 099200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6201 E:\BILLS\S3611.IS S3611 pamtmann on DSKBC07HB2PROD with BILLS 3 •S 3611 IS or refining of oil, natural gas, and coal)’’ after ‘‘na- 1 tional security’’. 2 (b) LIMITATION ON ACQUISITION OF FEDERAL 3 LEASES BY LOAN RECIPIENTS.—Section 4003(c)(1) of 4 the CARES Act (Public Law 116–136; 134 Stat. 281) is 5 amended by adding at the end the following: 6 ‘‘(C) LIMITATION ON ACQUISITION OF 7 FEDERAL LEASES BY LOAN RECIPIENTS.—An 8 eligible business that receives a loan or loan 9 guarantee under this section may not bid on, 10 purchase, or acquire any Federal lease or ac- 11 quire a Federal lease from a third party until 12 the date on which the Secretary certifies that 13 any loans received or guaranteed under this sec- 14 tion have been repaid.’’. 15 (c) LIMITATION ON LOANS AND LOAN GUARANTEES 16 TO CERTAIN FINANCIAL INSTITUTIONS.—Section 4003 of 17 the CARES Act (Public Law 116–136; 134 Stat. 281) is 18 amended by adding at the end the following: 19 ‘‘(i) LIMITATION ON LOANS AND LOAN GUARANTEES 20 TO CERTAIN FINANCIAL INSTITUTIONS.—The Secretary 21 shall not make a loan or loan guarantee to, or other invest- 22 ment in, a financial institution under this section for the 23 purpose of assisting any business for which not less than 24 15 percent of the revenue is derived from the extraction, 25 VerDate Sep 11 2014 18:36 May 07, 2020 Jkt 099200 PO 00000 Frm 00003 Fmt 6652 Sfmt 6201 E:\BILLS\S3611.IS S3611 pamtmann on DSKBC07HB2PROD with BILLS 4 •S 3611 IS transport, storage, export, or refining of oil, natural gas, 1 and coal.’’. 2 SEC. 3. LIMITATIONS ON BANKS OPERATING FOSSIL FUEL 3 COMPANIES. 4 (a) DEFINITIONS.—In this section: 5 (1) CARES ACT.—The term ‘‘CARES Act’’ 6 means the Coronavirus Aid, Relief, and Economic 7 Security Act (Public Law 116–136). 8 (2) COVERED ENTITY.—The term ‘‘covered en- 9 tity’’ means— 10 (A) a solvent insured depository institution 11 or solvent depository institution holding com- 12 pany (including any affiliate thereof) that issues 13 debt that is guaranteed under the program au- 14 thorized by subsection (h) of section 1105 of 15 the Dodd-Frank Wall Street Reform and Con- 16 sumer Protection Act, as added by section 4008 17 of the CARES Act; 18 (B) any entity issuing loans or extensions 19 of credit described in section 5200(c)(7) of the 20 Revised Statutes, as amended by section 4011 21 of the CARES Act; 22 (C) any bank sponsoring a money market 23 mutual fund that benefits from a guarantee as 24 VerDate Sep 11 2014 18:36 May 07, 2020 Jkt 099200 PO 00000 Frm 00004 Fmt 6652 Sfmt 6201 E:\BILLS\S3611.IS S3611 pamtmann on DSKBC07HB2PROD with BILLS 5 •S 3611 IS a result of the application of section 4015(a) of 1 the CARES Act; 2 (D) a qualifying community bank that is 3 subject to interim rule issued under section 4 4012(b)(1) of the CARES Act; and 5 (E) an insured depository institution, bank 6 holding company, or any affiliate thereof that 7 does not comply with the current expected cred- 8 it losses methodology for estimating allowances 9 for credit losses described in section 4014(b) of 10 the CARES Act. 11 (3) COVERED PERIOD.—The term ‘‘covered pe- 12 riod’’ means the period beginning on the date of en- 13 actment of this Act and ending on the date that is 14 2 years after— 15 (A) with respect to a covered entity de- 16 scribed in subparagraph (A) of paragraph (2), 17 the date on which the program described in 18 that subparagraph terminates; 19 (B) with respect to a covered entity de- 20 scribed in subparagraph (B) of paragraph (2), 21 the date on which the period described in sec- 22 tion 4011(b) of the CARES Act expires; 23 (C) with respect to a covered entity de- 24 scribed in subparagraph (C) of paragraph (2), 25 VerDate Sep 11 2014 18:36 May 07, 2020 Jkt 099200 PO 00000 Frm 00005 Fmt 6652 Sfmt 6201 E:\BILLS\S3611.IS S3611 pamtmann on DSKBC07HB2PROD with BILLS 6 •S 3611 IS the date on which the guarantee described in 1 that subparagraph terminates; 2 (D) with respect to a covered entity de- 3 scribed in subparagraph (D) of paragraph (2), 4 the date on which the period described in sec- 5 tion 4012(b)(2) of the CARES Act expires; and 6 (E) with respect to a covered entity de- 7 scribed in subparagraph (E) of paragraph (2), 8 the date on which the period described in sec- 9 tion 4014(b) of the CARES Act expires. 10 (b) PROHIBITION.—During the covered period, no 11 covered entity, or subsidiary or affiliate of a covered enti- 12 ty, may take a new equity stake or otherwise own or oper- 13 ate, or sponsor or retain an ownership interest in any fund 14 that takes an ownership stake in during the covered pe- 15 riod, any business for which 15 percent or more of the 16 revenue is derived from the extraction, transport, storage, 17 export, and refining of oil, natural gas, and coal. 18 SEC. 4. MORATORIUM ON OIL AND NATURAL GAS LEASE 19 SALES, NONCOMPETITIVE LEASES FOR OIL 20 OR NATURAL GAS, THE ISSUANCE OF COAL 21 LEASES, AND MODIFICATIONS TO CERTAIN 22 REGULATIONS. 23 Notwithstanding any other provision of law, during 24 the period beginning on the date of enactment of this Act 25 VerDate Sep 11 2014 18:36 May 07, 2020 Jkt 099200 PO 00000 Frm 00006 Fmt 6652 Sfmt 6201 E:\BILLS\S3611.IS S3611 pamtmann on DSKBC07HB2PROD with BILLS 7 •S 3611 IS and ending on the termination date of the national emer- 1 gency declared by the President under the National Emer- 2 gencies Act (50 U.S.C. 1601 et seq.) with respect to the 3 Coronavirus Disease 2019 (COVID–19), the Secretary of 4 the Interior shall not— 5 (1) conduct any lease sales for oil or natural 6 gas; 7 (2) issue any noncompetitive leases for oil or 8 natural gas; 9 (3) issue any coal leases; or 10 (4) modify any regulations relating to oil, nat- 11 ural gas, or coal. 12 SEC. 5. STRATEGIC PETROLEUM RESERVE. 13 (a) MAXIMUM STORAGE CAPACITY.— 14 (1) IN GENERAL.—Section 154(a) of the En- 15 ergy Policy and Conservation Act (42 U.S.C. 16 6234(a)) is amended by striking ‘‘1 billion barrels’’ 17 and inserting ‘‘714,500,000 barrels’’. 18 (2) CONFORMING AMENDMENTS.— 19 (A) Section 301(e) of the Energy Policy 20 Act of 2005 (42 U.S.C. 6240 note; Public Law 21 109–58) is amended by striking paragraph (1). 22 (B) Section 159 of the Energy Policy and 23 Conservation Act (42 U.S.C. 6239) is amended 24 by striking subsection (j). 25 VerDate Sep 11 2014 22:36 May 07, 2020 Jkt 099200 PO 00000 Frm 00007 Fmt 6652 Sfmt 6201 E:\BILLS\S3611.IS S3611 pamtmann on DSKBC07HB2PROD with BILLS 8 •S 3611 IS (b) DEVELOPMENT, OPERATION, AND MAINTENANCE 1 OF RESERVE.—Section 159 of the Energy Policy and Con- 2 servation Act (42 U.S.C. 6239) (as amended by subsection 3 (a)(2)(B)) is amended— 4 (1) by redesignating subsections (f), (g), (k), 5 and (l) as subsections (a), (b), (c), and (d), respec- 6 tively; and 7 (2) by inserting after subsection (d) (as so re- 8 designated) the following: 9 ‘‘(e) PROHIBITION OF STORAGE OF PETROLEUM 10 PRODUCTS NOT OWNED BY THE UNITED STATES.—The 11 Secretary may not store in a storage or related facility 12 of the Strategic Petroleum Reserve owned by or leased to 13 the United States any petroleum products that are not 14 owned by the United States.’’. 15 (c) REPEAL OF ROYALTY-IN-KIND PROVISION.— 16 Title I of The Department of the Interior, Environment, 17 and Related Agencies Appropriations Act, 2006 (Public 18 Law 109–54; 119 Stat. 512), is amended in the matter 19 under the heading ‘‘ROYALTY AND OFFSHORE MINERALS 20 MANAGEMENT’’ under the heading ‘‘MINERALS MANAGE- 21 MENT SERVICE’’ under the heading ‘‘DEPARTMENT OF 22 THE INTERIOR’’ by striking the fifth proviso (30 23 U.S.C. 1758). 24 VerDate Sep 11 2014 18:36 May 07, 2020 Jkt 099200 PO 00000 Frm 00008 Fmt 6652 Sfmt 6201 E:\BILLS\S3611.IS S3611 pamtmann on DSKBC07HB2PROD with BILLS 9 •S 3611 IS SEC. 6. LIMITATION ON AVAILABILITY OF FUNDS UNDER 1 THE DEFENSE PRODUCTION ACT OF 1950. 2 A fossil fuel company shall not be eligible for finan- 3 cial assistance made available in connection with the na- 4 tional emergency declared by the President under the Na- 5 tional Emergencies Act (50 U.S.C. 1601 et seq.) with re- 6 spect to the Coronavirus Disease 2019 (COVID–19) under 7 title III of the Defense Production Act of 1950 (50 U.S.C. 8 4531 et seq.), including through a loan guarantee, loan, 9 direct investment, or price guarantee under that title. 10 SEC. 7. REPEAL OF ROYALTY RELIEF PROVISIONS. 11 (a) ROYALTY RELIEF UNDER THE MINERAL LEAS- 12 ING ACT.— 13 (1) REPEAL.—Section 39 of the Mineral Leas- 14 ing Act (30 U.S.C. 209) is repealed. 15 (2) CONFORMING AMENDMENTS.— 16 (A) Section 8721(b) of title 10, United 17 States Code, is amended by striking ‘‘202-209’’ 18 and inserting ‘‘202-208’’. 19 (B) Section 8735(a) of title 10, United 20 States Code, is amended by striking ‘‘202-209’’ 21 and inserting ‘‘202-208’’. 22 (C) Section 31(h) of the Mineral Leasing 23 Act (30 U.S.C. 188(h)) is amended by striking 24 ‘‘and the provisions of section 39 of this Act’’. 25 VerDate Sep 11 2014 18:36 May 07, 2020 Jkt 099200 PO 00000 Frm 00009 Fmt 6652 Sfmt 6201 E:\BILLS\S3611.IS S3611 pamtmann on DSKBC07HB2PROD with BILLS 10 •S 3611 IS (b) ROYALTY RELIEF FOR DEEPWATER PRODUC- 1 TION.—Section 345 of the Energy Policy Act of 2005 (42 2 U.S.C. 15905) is repealed. 3 SEC. 8. LIMITATION ON THE AUTHORITY OF THE SEC- 4 RETARY TO REDUCE OR ELIMINATE CERTAIN 5 ROYALTIES AND NET PROFIT SHARES UNDER 6 THE OUTER CONTINENTAL SHELF LANDS 7 ACT. 8 Section 8(a) of the Outer Continental Shelf Lands 9 Act (43 U.S.C. 1337(a)) is amended by striking para- 10 graph (3) and inserting the following: 11 ‘‘(3) LIMITATION ON AUTHORITY OF SEC- 12 RETARY TO REDUCE OR ELIMINATE CERTAIN ROYAL- 13 TIES OR NET PROFIT SHARES.—Notwithstanding 14 any other provision of this Act, the Secretary may 15 not reduce or eliminate any royalty or net profit 16 share established under a lease.’’. 17 SEC. 9. EXTENSION OF PUBLIC COMMENT PERIODS AND 18 SUSPENSION OF RULEMAKING. 19 (a) EXTENSION OF PUBLIC COMMENT PERIODS.— 20 Notwithstanding any other provision of law, the heads of 21 Federal agencies shall keep open any public comment pe- 22 riod that was open as of March 13, 2020, during the pe- 23 riod beginning on the date of enactment of this Act and 24 ending on a date, as designated by the head of the applica- 25 VerDate Sep 11 2014 18:36 May 07, 2020 Jkt 099200 PO 00000 Frm 00010 Fmt 6652 Sfmt 6201 E:\BILLS\S3611.IS S3611 pamtmann on DSKBC07HB2PROD with BILLS 11 •S 3611 IS ble Federal agency, that is not earlier than 30 days after 1 the date on which the National Emergency declared by 2 the President under the National Emergencies Act (50 3 U.S.C. 1601 et seq.) with respect to the Coronavirus Dis- 4 ease 2019 (COVID–19) is terminated. 5 (b) SUSPENSION OF RULEMAKING.—Notwith- 6 standing any other provision of law, unless the head of 7 a Federal agency determines that a rulemaking is specifi- 8 cally required to respond to, or recover from, the 9 Coronavirus Disease 2019 (COVID–19) pandemic, the 10 head of a Federal agency shall not initiate any new admin- 11 istrative rulemaking during the period beginning on the 12 date of enactment of this Act and ending on a date, as 13 designated by the head of the applicable Federal agency, 14 that is not earlier than the date 30 days after the date 15 on which the National Emergency declared by the Presi- 16 dent under the National Emergencies Act (50 U.S.C. 17 1601 et seq.) with respect to the Coronavirus Disease 18 2019 (COVID–19) is terminated. 19 Æ VerDate Sep 11 2014 18:36 May 07, 2020 Jkt 099200 PO 00000 Frm 00011 Fmt 6652 Sfmt 6301 E:\BILLS\S3611.IS S3611 pamtmann on DSKBC07HB2PROD with BILLS