,i #aaith ,,congress #b;d ,session ,h4 ,r4 #ijce ,,in ,,the ,,house ,,of ,,representatives ,may #bf1 #bjbf,mr4 ,min 7for himself1 ,mr4 ,huffman1 ,ms4 ,ansari1 ,mrs4 ,grijalva1 and ,ms4 ,dexter7 introduced the following bill2 which was referred to the ,committee on the ,judiciary1 and in addition to the ,committee on ,natural ,resources1 for a period to be subsequently determined by the ,speaker1 in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned ,a ,,bill ,to amend title #aa of the ,united ,states ,code to ensure oil1 gas1 and coal companies that are debtors in bankruptcy fulfill environmental reclamation obligations4 #a4 ,short title ,this ,act may be cited as the ,ending ,fossil ,fuel ,bailouts ,act of #bjbf4 #b4 ,definitions ,section #aja of title #aa of the ,united ,states ,code is amended-- 7#a7 by inserting after paragraph 7#e7 the following3 7#e;,a7 ,the term coal has the meaning given such term in section #b of chapter #aaef of the ,act of ,august #ca1 #aied 7#fh ,stat4 #ajji2 #cj ,u4,s4,c4 #eeb74 2 7#b7 by inserting after paragraph 7#ag7 the following3 7#ag;,a7 ,the term executive officer with respect to a fossil fuel company means-- 7,a7 the president1 or any officer in charge1 of a principal business unit1 division or function of the fossil fuel company1 such as sales1 administration or finance2 7,b7 any officer of the fossil fuel company who performs a policy-making function2 or 7,c7 any other individual who performs similar policy making functions for a fossil fuel company4 2 7#c7 by inserting after paragraph 7#bf7 the following3 7#bf;,a7 ,the term fossil fuel company means an entity that has engaged in the exploration1 production1 refinement1 or distribution of oil1 gas1 coal1 or any derivative of oil1 gas1 or coal for profit4 7#bf;,b7 ,the term gas means natural gas as defined in section #b7a7 of the ,natural ,gas ,policy ,act of #aigh4 2 7#d7 by redesignating paragraphs 7#dj;,a7 and 7#dj;,b7 as paragraphs 7#dj;,b7 and 7#dj;,c72 and 7#e7 by inserting after paragraph 7#dj7 the following3 7#dj;,a7 ,the term oil has the meaning given such term in section #caa7;a77#a7 of the ,federal ,water ,pollution ,control ,act4 4 #c4 ,prioritization of expenses 7a7 ,cost recovery ,section #ejf of title #aa of the ,united ,states ,code is amended-- 7#a7 in subsection 7c7 by inserting ,unless otherwise provided by this section1 before ,the trustee may recover from property2 and 7#b7 by inserting after subsection 7d7 the following3 7e7 ,with respect to the accumulated and projected reclamation costs associated with the complete cleanup of fossil fuel operations and retirement of fossil fuel assets pursuant to applicable ,federal1 ,state1 and local laws and reclamation requirements1 the trustee shall-- 7#a7 consider such costs as necessary costs and expenses for preserving1 or disposing of1 such property securing an allowed secured claim pursuant to subsection 7c72 and 7#b7 recover from the property securing an allowed secured claim such sums necessary to fulfill all fossil fuel reclamation costs4 4 7b7 ,prioritization of unsecured claims ,section #ejg of title #aa of the ,united ,states ,code is amended by adding at the end the following3 7e7 ,with respect to a debtor that is a fossil fuel company1 the following expenses and claims have priority in the following order3 7#a7 ,wages1 salaries1 commissions1 and benefits pursuant to subsections 7#d7 and 7#e7 owed to an employee that is not an executive officer of the company4 7#b7 ,accumulated and projected reclamation costs associated with the complete cleanup of fossil fuel operations and retirement of fossil fuel assets pursuant to applicable ,federal1 ,state1 and local laws and reclamation requirements1 with priority given to costs in the following order3 7,a7 ,any unfulfilled environmental bond obligation4 7,b7 ,environmental reclamation requirements or administrative or civil penalties administered by ,federal1 ,state1 or local governments1 including requirements or penalties pursuant to-- 7i7 ,federal ,water ,pollution ,control ,act 7#cc ,u4,s4,c4 #abea et seq472 7ii7 the ,clean ,air ,act 7#db ,u4,s4,c4 #gdja et seq472 7iii7 the ,comprehensive ,environmental ,response1 ,compensation1 and ,liability ,act of #aihj 7#db ,u4,s4,c4 #ifja et seq472 7iv7 the ,endangered ,species ,act of #aigc 7#af ,u4,s4,c4 #aeca et seq472 7v7 the ,surface ,mining ,control and ,reclamation ,act of #aigg 7#cj ,u4,s4,c4 #abja et seq472 7vi7 the ,outer ,continental ,shelf ,lands ,act 7#dc ,u4,s4,c4 #acca et seq472 7vii7 the ,mineral ,leasing ,act 7#cj ,u4,s4,c4 #aha et seq472 7viii7 the ,safe ,drinking ,water ,act 7#db ,u4,s4,c4 #cjj;f et seq472 or 7ix7 any similar environmental law of a ,state where such operations and assets are situation4 7#c7 ,any unsecured claim4 7#d7 ,a claim by a shareholder of the fossil fuel company debtor4 7#e7 ,the order of claims described in section #ejg7;a74 7f7 ,with respect to a debtor that is a fossil fuel company1 the estate of which has insufficient funds to cover the claims described in paragraphs 7#a7 and 7#b7 of subsection 7e7-- 7#a7 the court may recover the compensation of the executive officers of the debtor that is a fossil fuel company during the #e-year period preceding the date of the filing of the petition2 and 7#b7 the following entities shall be strictly liable under the rules of joint and several liability to cover those claims3 7,a7 ,a private equity firm that owns a share in the fossil fuel company debtor4 7,b7 ,a parent company of the fossil fuel company debtor4 7,c7 ,a hedge fund that owns a share in the fossil fuel company debtor4 4 #d4 ,limitations on dischargeability ,section #ebc7;a7 of title #aa of the ,united ,states ,code is amended-- 7#a7 in paragraph 7#ai7 by striking or at the end2 7#b7 in paragraph 7#bj7 by striking the period at the end and inserting a semicolon2 and 7#c7 by adding at the end the following3 7#ba7 for an environmental bond2 or 7#bb7 for the accumulated and projected reclamation costs associated with the complete cleanup of fossil fuel operations and retirement of fossil fuel assets pursuant to applicable ,federal1 ,state1 and local laws and reclamation requirements1 including-- 7,a7 the ,federal ,water ,pollution ,control ,act 7#cc ,u4,s4,c4 #abea et seq472 7,b7 the ,clean ,air ,act 7#db ,u4,s4,c4 #gdja et seq472 7,c7 the ,comprehensive ,environmental ,response1 ,compensation1 and ,liability ,act of #aihj 7#db ,u4,s4,c4 #ifja et seq472 7,d7 the ,endangered ,species ,act of #aigc 7#af ,u4,s4,c4 #aeca et seq472 7,e7 the ,surface ,mining ,control and ,reclamation ,act of #aigg 7#cj ,u4,s4,c4 #abja et seq472 7,f7 the ,outer ,continental ,shelf ,lands ,act 7#dc ,u4,s4,c4 #acca et seq472 7,g7 the ,mineral ,leasing ,act 7#cj ,u4,s4,c4 #aha et seq472 7,h7 the ,safe ,drinking ,water ,act 7#db ,u4,s4,c4 #cjj;f et seq472 and 7,i7 any similar environmental law of a ,state where such operations and assets are situated4 4 #e4 ,prohibition on abandonment of fossil fuel assets ,section #eed of title #aa of the ,united ,states ,code is amended by adding at the end the following3 7e7 ,no property of the estate may be abandoned as burdensome to the estate under this section if the property was or may be utilized to facilitate the exploration1 production1 refinement1 or distribution of oil1 gas1 coal1 or any derivative of oil1 gas1 or coal4 4 #f4 ,extension to look-back period for fraudulent transfers and obligations ,section #edh7;a7 of title #aa of the ,united ,states ,code is amended-- 7#a7 in paragraph 7#a7 by striking ,the trustee and inserting ,unless specified otherwise in this section1 the trustee2 and 7#b7 by adding at the end the following3 7#c7 ,with respect to a debtor that is a fossil fuel company1 the trustee may avoid any transfer 7including any transfer to or for the benefit of an insider under an employment contract7 of an interest of the debtor in property1 or any obligation 7including any obligation to or for the benefit of an insider under an employment contract7 incurred by the debtor1 that was made or incurred on or within #aj years before the date of the filing of the petition if the debtor acted pursuant to subparagraphs 7,a7 and 7,b7 of paragraph 7#a74 4 #g4 ,limitation on transfer of certain leases 7a7 ,definitions ,in this section3 7#a7 ,covered lease ,the term covered lease means-- 7,a7 an oil1 gas1 or coal lease issued under the ,mineral ,leasing ,act 7#cj ,u4,s4,c4 #aha et seq472 and 7,b7 a lease issued under the ,outer ,continental ,shelf ,lands ,act 7#dc ,u4,s4,c4 #acca et seq474 7#b7 ,secretary ,the term ,secretary means the ,secretary of the ,interior4 7b7 ,limitation ,the ,secretary shall include in each covered lease issued after the date of enactment of this ,act a provision prohibiting the leaseholder from transferring the covered lease to another person if the lessee has filed a petition for bankruptcy under title #aa of the ,united ,states ,code4 #h4 ,effective date2 ,application of amendments 7a7 ,effective date ,except as provided in subsection 7b71 this ,act and the amendments made by this ,act shall take effect on the date of the enactment of this ,act4 7b7 ,application of amendments ,the amendments made by this ,act shall apply only to cases commenced under title #aa of the ,united ,states ,code on and after the date of enactment of this ,act4