ReWIND Act

I 116TH CONGRESS 2D SESSION H. R. 6707 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 HOUSE OF REPRESENTATIVES MAY 5, 2020 Ms. BARRAGA´N (for herself, Ms. OMAR, Mr. HUFFMAN, Ms. JAYAPAL, Mr. RASKIN, Mr. COHEN, Ms. OCASIO-CORTEZ, Ms. TLAIB, Ms. PRESSLEY, Mr. KENNEDY, Mr. BLUMENAUER, Mr. ESPAILLAT, Ms. NORTON, Ms. SPEIER, Mr. GARCI´A of Illinois, Ms. LEE of California, Mr. KHANNA, Ms. PINGREE, Mrs. NAPOLITANO, Mr. LOWENTHAL, Ms. ROYBAL-ALLARD, Mr. CARBAJAL, Mr. JOHNSON of Georgia, Mr. HASTINGS, Mr. MCGOV- ERN, Mr. SOTO, Ms. VELA´ZQUEZ, Mr. LEVIN of California, Mr. GOMEZ, and Ms. WASSERMAN SCHULTZ) introduced the following bill; which was referred to the Committee on Natural Resources, and in addition to the Committees on Energy and Commerce, Financial Services, and the Judi- ciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned 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 VerDate Sep 11 2014 22:42 May 22, 2020 Jkt 099200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6652 E:\BILLS\H6707.IH H6707 pamtmann on DSKBC07HB2PROD with BILLS 2 •HR 6707 IH 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. 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 VerDate Sep 11 2014 22:42 May 22, 2020 Jkt 099200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6201 E:\BILLS\H6707.IH H6707 pamtmann on DSKBC07HB2PROD with BILLS 3 •HR 6707 IH serting ‘‘(other than a United States business for 1 which not less than 15 percent of the revenue is de- 2 rived from the extraction, transport, storage, export, 3 or refining of oil, natural gas, and coal)’’ after ‘‘na- 4 tional security’’. 5 (b) LIMITATION ON ACQUISITION OF FEDERAL 6 LEASES BY LOAN RECIPIENTS.—Section 4003(c)(1) of 7 the CARES Act (Public Law 116–136; 134 Stat. 281) is 8 amended by adding at the end the following: 9 ‘‘(C) LIMITATION ON ACQUISITION OF 10 FEDERAL LEASES BY LOAN RECIPIENTS.—An 11 eligible business that receives a loan or loan 12 guarantee under this section may not bid on, 13 purchase, or acquire any Federal lease or ac- 14 quire a Federal lease from a third party until 15 the date on which the Secretary certifies that 16 any loans received or guaranteed under this sec- 17 tion have been repaid.’’. 18 (c) LIMITATION ON LOANS AND LOAN GUARANTEES 19 TO CERTAIN FINANCIAL INSTITUTIONS.—Section 4003 of 20 the CARES Act (Public Law 116–136; 134 Stat. 281) is 21 amended by adding at the end the following: 22 ‘‘(i) LIMITATION ON LOANS AND LOAN GUARANTEES 23 TO CERTAIN FINANCIAL INSTITUTIONS.—The Secretary 24 shall not make a loan or loan guarantee to, or other invest- 25 VerDate Sep 11 2014 22:42 May 22, 2020 Jkt 099200 PO 00000 Frm 00003 Fmt 6652 Sfmt 6201 E:\BILLS\H6707.IH H6707 pamtmann on DSKBC07HB2PROD with BILLS 4 •HR 6707 IH ment in, a financial institution under this section for the 1 purpose of assisting any business for which not less than 2 15 percent of the revenue is derived from the extraction, 3 transport, storage, export, or refining of oil, natural gas, 4 and coal.’’. 5 SEC. 3. LIMITATIONS ON BANKS OPERATING FOSSIL FUEL 6 COMPANIES. 7 (a) DEFINITIONS.—In this section: 8 (1) CARES ACT.—The term ‘‘CARES Act’’ 9 means the Coronavirus Aid, Relief, and Economic 10 Security Act (Public Law 116–136). 11 (2) COVERED ENTITY.—The term ‘‘covered en- 12 tity’’ means— 13 (A) a solvent insured depository institution 14 or solvent depository institution holding com- 15 pany (including any affiliate thereof) that issues 16 debt that is guaranteed under the program au- 17 thorized by subsection (h) of section 1105 of 18 the Dodd-Frank Wall Street Reform and Con- 19 sumer Protection Act, as added by section 4008 20 of the CARES Act; 21 (B) any entity issuing loans or extensions 22 of credit described in section 5200(c)(7) of the 23 Revised Statutes, as amended by section 4011 24 of the CARES Act; 25 VerDate Sep 11 2014 22:42 May 22, 2020 Jkt 099200 PO 00000 Frm 00004 Fmt 6652 Sfmt 6201 E:\BILLS\H6707.IH H6707 pamtmann on DSKBC07HB2PROD with BILLS 5 •HR 6707 IH (C) any bank sponsoring a money market 1 mutual fund that benefits from a guarantee as 2 a result of the application of section 4015(a) of 3 the CARES Act; 4 (D) a qualifying community bank that is 5 subject to interim rule issued under section 6 4012(b)(1) of the CARES Act; and 7 (E) an insured depository institution, bank 8 holding company, or any affiliate thereof that 9 does not comply with the current expected cred- 10 it losses methodology for estimating allowances 11 for credit losses described in section 4014(b) of 12 the CARES Act. 13 (3) COVERED PERIOD.—The term ‘‘covered pe- 14 riod’’ means the period beginning on the date of en- 15 actment of this Act and ending on the date that is 16 2 years after— 17 (A) with respect to a covered entity de- 18 scribed in subparagraph (A) of paragraph (2), 19 the date on which the program described in 20 that subparagraph terminates; 21 (B) with respect to a covered entity de- 22 scribed in subparagraph (B) of paragraph (2), 23 the date on which the period described in sec- 24 tion 4011(b) of the CARES Act expires; 25 VerDate Sep 11 2014 22:42 May 22, 2020 Jkt 099200 PO 00000 Frm 00005 Fmt 6652 Sfmt 6201 E:\BILLS\H6707.IH H6707 pamtmann on DSKBC07HB2PROD with BILLS 6 •HR 6707 IH (C) with respect to a covered entity de- 1 scribed in subparagraph (C) of paragraph (2), 2 the date on which the guarantee described in 3 that subparagraph terminates; 4 (D) with respect to a covered entity de- 5 scribed in subparagraph (D) of paragraph (2), 6 the date on which the period described in sec- 7 tion 4012(b)(2) of the CARES Act expires; and 8 (E) with respect to a covered entity de- 9 scribed in subparagraph (E) of paragraph (2), 10 the date on which the period described in sec- 11 tion 4014(b) of the CARES Act expires. 12 (b) PROHIBITION.—From the date of enactment of 13 this law no covered entity, or subsidiary or affiliate of a 14 covered entity, may take a new equity stake or otherwise 15 own or operate, or sponsor or retain an ownership interest 16 in any fund that takes any new ownership stake in, any 17 business for which 15 percent or more of the revenue is 18 derived from the extraction, transport, storage, export, 19 and refining of oil, natural gas, and coal during the cov- 20 ered period. 21 VerDate Sep 11 2014 22:42 May 22, 2020 Jkt 099200 PO 00000 Frm 00006 Fmt 6652 Sfmt 6201 E:\BILLS\H6707.IH H6707 pamtmann on DSKBC07HB2PROD with BILLS 7 •HR 6707 IH SEC. 4. MORATORIUM ON OIL AND NATURAL GAS LEASE 1 SALES, NONCOMPETITIVE LEASES FOR OIL 2 OR NATURAL GAS, THE ISSUANCE OF COAL 3 LEASES, AND MODIFICATIONS TO CERTAIN 4 REGULATIONS. 5 Notwithstanding any other provision of law, during 6 the period beginning on the date of enactment of this Act 7 and ending on the termination date of the national emer- 8 gency declared by the President under the National Emer- 9 gencies Act (50 U.S.C. 1601 et seq.) with respect to the 10 Coronavirus Disease 2019 (COVID–19), the Secretary of 11 the Interior shall not— 12 (1) conduct any lease sales for oil or natural 13 gas; 14 (2) issue any noncompetitive leases for oil or 15 natural gas; 16 (3) issue any coal leases; or 17 (4) modify any regulations relating to oil, nat- 18 ural, gas, or coal. 19 SEC. 5. STRATEGIC PETROLEUM RESERVE. 20 (a) MAXIMUM STORAGE CAPACITY.— 21 (1) IN GENERAL.—Section 154(a) of the En- 22 ergy Policy and Conservation Act (42 U.S.C. 23 6234(a)) is amended by striking ‘‘1 billion barrels’’ 24 and inserting ‘‘713,500,000 barrels’’. 25 (2) CONFORMING AMENDMENTS.— 26 VerDate Sep 11 2014 22:42 May 22, 2020 Jkt 099200 PO 00000 Frm 00007 Fmt 6652 Sfmt 6201 E:\BILLS\H6707.IH H6707 pamtmann on DSKBC07HB2PROD with BILLS 8 •HR 6707 IH (A) Section 301(e) of the Energy Policy 1 Act of 2005 (42 U.S.C. 6240 note; Public Law 2 109–58) is amended by striking paragraph (1). 3 (B) Section 159 of the Energy Policy and 4 Conservation Act (42 U.S.C. 6239) is amended 5 by striking subsection (j). 6 (b) DEVELOPMENT, OPERATION, AND MAINTENANCE 7 OF RESERVE.—Section 159 of the Energy Policy and Con- 8 servation Act (42 U.S.C. 6239) (as amended by subsection 9 (a)(2)(B)) is amended— 10 (1) by redesignating subsections (f), (g), (k), 11 and (l) as subsections (a), (b), (c), and (d), respec- 12 tively; and 13 (2) by inserting after subsection (d) (as so re- 14 designated) the following: 15 ‘‘(e) PROHIBITION OF STORAGE OF PETROLEUM 16 PRODUCTS NOT OWNED BY THE UNITED STATES.—The 17 Secretary may not store in a storage or related facility 18 of the Strategic Petroleum Reserve owned by or leased to 19 the United States any petroleum products that are not 20 owned by the United States.’’. 21 (c) REPEAL OF ROYALTY-IN-KIND PROVISION.— 22 Title I of The Department of the Interior, Environment, 23 and Related Agencies Appropriations Act, 2006 (Public 24 Law 109–54; 119 Stat. 512), is amended in the matter 25 VerDate Sep 11 2014 22:42 May 22, 2020 Jkt 099200 PO 00000 Frm 00008 Fmt 6652 Sfmt 6201 E:\BILLS\H6707.IH H6707 pamtmann on DSKBC07HB2PROD with BILLS 9 •HR 6707 IH under the heading ‘‘ROYALTY AND OFFSHORE MINERALS 1 MANAGEMENT’’ under the heading ‘‘MINERALS MANAGE- 2 MENT SERVICE’’ under the heading ‘‘DEPARTMENT OF 3 THE INTERIOR’’ by striking the fifth proviso (30 4 U.S.C. 1758). 5 SEC. 6. LIMITATION ON AVAILABILITY OF FUNDS UNDER 6 THE DEFENSE PRODUCTION ACT OF 1950. 7 A fossil fuel company shall not be eligible for finan- 8 cial assistance made available in connection with the na- 9 tional emergency declared by the President under the Na- 10 tional Emergencies Act (50 U.S.C. 1601 et seq.) with re- 11 spect to the Coronavirus Disease 2019 (COVID–19) under 12 title III of the Defense Production Act of 1950 (50 U.S.C. 13 4531 et seq.), including through a loan guarantee, loan, 14 direct investment, or price guarantee under that title. 15 SEC. 7. REPEAL OF ROYALTY RELIEF PROVISIONS. 16 (a) ROYALTY RELIEF UNDER THE MINERAL LEAS- 17 ING ACT.— 18 (1) REPEAL.—Section 39 of the Mineral Leas- 19 ing Act (30 U.S.C. 209) is repealed. 20 (2) CONFORMING AMENDMENTS.— 21 (A) Section 8721(b) of title 10, United 22 States Code, is amended by striking ‘‘202–209’’ 23 and inserting ‘‘202–208’’. 24 VerDate Sep 11 2014 22:42 May 22, 2020 Jkt 099200 PO 00000 Frm 00009 Fmt 6652 Sfmt 6201 E:\BILLS\H6707.IH H6707 pamtmann on DSKBC07HB2PROD with BILLS 10 •HR 6707 IH (B) Section 8735(a) of title 10, United 1 States Code, is amended by striking ‘‘202–209’’ 2 and inserting ‘‘202–208’’. 3 (C) Section 31(h) of the Mineral Leasing 4 Act (30 U.S.C. 188(h)) is amended by striking 5 ‘‘and the provisions of section 39 of this Act’’. 6 (b) ROYALTY RELIEF FOR DEEPWATER PRODUC- 7 TION.—Section 345 of the Energy Policy Act of 2005 (42 8 U.S.C. 15905) is repealed. 9 SEC. 8. LIMITATION ON THE AUTHORITY OF THE SEC- 10 RETARY TO REDUCE OR ELIMINATE CERTAIN 11 ROYALTIES AND NET PROFIT SHARES UNDER 12 THE OUTER CONTINENTAL SHELF LANDS 13 ACT. 14 Section 8(a) of the Outer Continental Shelf Lands 15 Act (43 U.S.C. 1337(a)) is amended by striking para- 16 graph (3) and inserting the following: 17 ‘‘(3) LIMITATION ON AUTHORITY OF SEC- 18 RETARY TO REDUCE OR ELIMINATE CERTAIN ROYAL- 19 TIES OR NET PROFIT SHARES.—Notwithstanding 20 any other provision of this Act, the Secretary may 21 not reduce or eliminate any royalty or net profit 22 share established under a lease.’’. 23 VerDate Sep 11 2014 22:42 May 22, 2020 Jkt 099200 PO 00000 Frm 00010 Fmt 6652 Sfmt 6201 E:\BILLS\H6707.IH H6707 pamtmann on DSKBC07HB2PROD with BILLS 11 •HR 6707 IH SEC. 9. EXTENSION OF PUBLIC COMMENT PERIODS AND 1 SUSPENSION OF RULEMAKING. 2 (a) EXTENSION OF PUBLIC COMMENT PERIODS.— 3 Notwithstanding any other provision of law, the heads of 4 Federal agencies shall keep open any public comment pe- 5 riod that was open as of March 13, 2020, during the pe- 6 riod beginning on the date of enactment of this Act and 7 ending on a date, as designated by the head of the applica- 8 ble Federal agency, that is not earlier than 30 days after 9 the date on which the National Emergency declared by 10 the President under the National Emergencies Act (50 11 U.S.C. 1601 et seq.) with respect to the Coronavirus Dis- 12 ease 2019 (COVID–19) is terminated. 13 (b) SUSPENSION OF RULEMAKING.—Notwithstand- 14 ing any other provision of law, unless the head of a Fed- 15 eral agency determines that a rulemaking is specifically 16 required to respond to, or recover from, the Coronavirus 17 Disease 2019 (COVID–19) pandemic, the head of a Fed- 18 eral agency shall not initiate any new administrative rule- 19 making during the period beginning on the date of enact- 20 ment of this Act and ending on a date, as designated by 21 the head of the applicable Federal agency, that is not ear- 22 lier than the date 30 days after the date on which the 23 National Emergency declared by the President under the 24 National Emergencies Act (50 U.S.C. 1601 et seq.) with 25 VerDate Sep 11 2014 22:42 May 22, 2020 Jkt 099200 PO 00000 Frm 00011 Fmt 6652 Sfmt 6201 E:\BILLS\H67 [Text truncated for display. 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