,i #aai? ,,congress #b;d ,session ,h4 ,r4 #ijce ,,9 ,,! ,,h\se ,,( ,,repres5tatives ,may #bf1 #bjbf,mr4 ,m9 7= himself1 ,mr4 ,huffman1 ,ms4 ,ans>i1 ,mrs4 ,grijalva1 & ,ms4 ,dext]7 introduc$ ! foll[+ bill2 :i* 0 ref]r$ to ! ,committee on ! ,judici>y1 & 9 addition to ! ,committee on ,natural ,res\rces1 = a p]iod to be subsequ5tly det]m9$ by ! ,speak]1 9 ea* case = consid]ation ( su* provisions z fall )9 ! jurisdiction ( ! committee conc]n$ ,a ,,bill ,to am5d title #aa ( ! ,unit$ ,/ates ,code to ensure oil1 gas1 & coal companies t are debtors 9 bankruptcy fulfill environm5tal reclamation obligations4 #a4 ,%ort title ,?is ,act may be cit$ z ! ,end+ ,fossil ,fuel ,bail\ts ,act ( #bjbf4 #b4 ,def9itions ,section #aja ( title #aa ( ! ,unit$ ,/ates ,code is am5d$-- 7#a7 by ins]t+ aft] p>agraph 7#e7 ! foll[+3 7#e;,a7 ,! t]m coal has ! mean+ giv5 su* t]m 9 section #b ( *apt] #aaef ( ! ,act ( ,augu/ #ca1 #aied 7#fh ,/at4 #ajji2 #cj ,u4,s4,c4 #eeb74 2 7#b7 by ins]t+ aft] p>agraph 7#ag7 ! foll[+3 7#ag;,a7 ,! t]m executive (fic] ) respect to a fossil fuel company means-- 7,a7 ! presid5t1 or any (fic] 9 *>ge1 ( a pr9cipal bus9ess unit1 division or function ( ! fossil fuel company1 su* z sales1 adm9i/ration or f9ance2 7,b7 any (fic] ( ! fossil fuel company :o p]=ms a policy-mak+ function2 or 7,c7 any o!r individual :o p]=ms simil> policy mak+ functions = a fossil fuel company4 2 7#c7 by ins]t+ aft] p>agraph 7#bf7 ! foll[+3 7#bf;,a7 ,! t]m fossil fuel company means an entity t has engag$ 9 ! exploration1 production1 ref9em5t1 or di/ribution ( oil1 gas1 coal1 or any d]ivative ( oil1 gas1 or coal = pr(it4 7#bf;,b7 ,! t]m gas means natural gas z def9$ 9 section #b7a7 ( ! ,natural ,gas ,policy ,act ( #aigh4 2 7#d7 by r$esignat+ p>agraphs 7#dj;,a7 & 7#dj;,b7 z p>agraphs 7#dj;,b7 & 7#dj;,c72 & 7#e7 by ins]t+ aft] p>agraph 7#dj7 ! foll[+3 7#dj;,a7 ,! t]m oil has ! mean+ giv5 su* t]m 9 section #caa7;a77#a7 ( ! ,f$]al ,wat] ,pollution ,control ,act4 4 #c4 ,prioritization ( exp5ses 7a7 ,co/ recov]y ,section #ejf ( title #aa ( ! ,unit$ ,/ates ,code is am5d$-- 7#a7 9 subsection 7c7 by ins]t+ ,unless o!rwise provid$ by ?is section1 be=e ,! tru/ee may recov] f prop]ty2 & 7#b7 by ins]t+ aft] subsection 7d7 ! foll[+3 7e7 ,) respect to ! accumulat$ & project$ reclamation co/s associat$ ) ! complete cleanup ( fossil fuel op]ations & retirem5t ( fossil fuel assets pursuant to applicable ,f$]al1 ,/ate1 & local laws & reclamation requirem5ts1 ! tru/ee %all-- 7#a7 consid] su* co/s z necess>y co/s & exp5ses = pres]v+1 or dispos+ (1 su* prop]ty secur+ an all[$ secur$ claim pursuant to subsection 7c72 & 7#b7 recov] f ! prop]ty secur+ an all[$ secur$ claim su* sums necess>y to fulfill all fossil fuel reclamation co/s4 4 7b7 ,prioritization ( unsecur$ claims ,section #ejg ( title #aa ( ! ,unit$ ,/ates ,code is am5d$ by add+ at ! end ! foll[+3 7e7 ,) respect to a debtor t is a fossil fuel company1 ! foll[+ exp5ses & claims h priority 9 ! foll[+ ord]3 7#a7 ,wages1 sal>ies1 commissions1 & b5efits pursuant to subsections 7#d7 & 7#e7 ow$ to an employee t is n an executive (fic] ( ! company4 7#b7 ,accumulat$ & project$ reclamation co/s associat$ ) ! complete cleanup ( fossil fuel op]ations & retirem5t ( fossil fuel assets pursuant to applicable ,f$]al1 ,/ate1 & local laws & reclamation requirem5ts1 ) priority giv5 to co/s 9 ! foll[+ ord]3 7,a7 ,any unfulfill$ environm5tal bond obligation4 7,b7 ,environm5tal reclamation requirem5ts or adm9i/rative or civil p5alties adm9i/]$ by ,f$]al1 ,/ate1 or local gov]nm5ts1 includ+ requirem5ts or p5alties pursuant to-- 7i7 ,f$]al ,wat] ,pollution ,control ,act 7#cc ,u4,s4,c4 #abea et seq472 7ii7 ! ,clean ,air ,act 7#db ,u4,s4,c4 #gdja et seq472 7iii7 ! ,compreh5sive ,environm5tal ,response1 ,comp5sation1 & ,liability ,act ( #aihj 7#db ,u4,s4,c4 #ifja et seq472 7iv7 ! ,endang]$ ,species ,act ( #aigc 7#af ,u4,s4,c4 #aeca et seq472 7v7 ! ,surface ,m9+ ,control & ,reclamation ,act ( #aigg 7#cj ,u4,s4,c4 #abja et seq472 7vi7 ! ,out] ,cont95tal ,%elf ,l&s ,act 7#dc ,u4,s4,c4 #acca et seq472 7vii7 ! ,m9]al ,leas+ ,act 7#cj ,u4,s4,c4 #aha et seq472 7viii7 ! ,safe ,dr9k+ ,wat] ,act 7#db ,u4,s4,c4 #cjj;f et seq472 or 7ix7 any simil> environm5tal law ( a ,/ate :]e su* op]ations & assets are situation4 7#c7 ,any unsecur$ claim4 7#d7 ,a claim by a %>ehold] ( ! fossil fuel company debtor4 7#e7 ,! ord] ( claims describ$ 9 section #ejg7;a74 7f7 ,) respect to a debtor t is a fossil fuel company1 ! e/ate ( :i* has insuffici5t funds to cov] ! claims describ$ 9 p>agraphs 7#a7 & 7#b7 ( subsection 7e7-- 7#a7 ! c\rt may recov] ! comp5sation ( ! executive (fic]s ( ! debtor t is a fossil fuel company dur+ ! #e-ye> p]iod prec$+ ! date ( ! fil+ ( ! petition2 & 7#b7 ! foll[+ entities %all be /rictly liable "u ! rules ( jo9t & sev]al liability to cov] ^? claims3 7,a7 ,a private equity firm t owns a %>e 9 ! fossil fuel company debtor4 7,b7 ,a p>5t company ( ! fossil fuel company debtor4 7,c7 ,a h$ge fund t owns a %>e 9 ! fossil fuel company debtor4 4 #d4 ,limitations on dis*>geability ,section #ebc7;a7 ( title #aa ( ! ,unit$ ,/ates ,code is am5d$-- 7#a7 9 p>agraph 7#ai7 by /rik+ or at ! end2 7#b7 9 p>agraph 7#bj7 by /rik+ ! p]iod at ! end & ins]t+ a semicolon2 & 7#c7 by add+ at ! end ! foll[+3 7#ba7 = an environm5tal bond2 or 7#bb7 = ! accumulat$ & project$ reclamation co/s associat$ ) ! complete cleanup ( fossil fuel op]ations & retirem5t ( fossil fuel assets pursuant to applicable ,f$]al1 ,/ate1 & local laws & reclamation requirem5ts1 includ+-- 7,a7 ! ,f$]al ,wat] ,pollution ,control ,act 7#cc ,u4,s4,c4 #abea et seq472 7,b7 ! ,clean ,air ,act 7#db ,u4,s4,c4 #gdja et seq472 7,c7 ! ,compreh5sive ,environm5tal ,response1 ,comp5sation1 & ,liability ,act ( #aihj 7#db ,u4,s4,c4 #ifja et seq472 7,d7 ! ,endang]$ ,species ,act ( #aigc 7#af ,u4,s4,c4 #aeca et seq472 7,e7 ! ,surface ,m9+ ,control & ,reclamation ,act ( #aigg 7#cj ,u4,s4,c4 #abja et seq472 7,f7 ! ,out] ,cont95tal ,%elf ,l&s ,act 7#dc ,u4,s4,c4 #acca et seq472 7,g7 ! ,m9]al ,leas+ ,act 7#cj ,u4,s4,c4 #aha et seq472 7,h7 ! ,safe ,dr9k+ ,wat] ,act 7#db ,u4,s4,c4 #cjj;f et seq472 & 7,i7 any simil> environm5tal law ( a ,/ate :]e su* op]ations & assets are situat$4 4 #e4 ,prohibition on ab&onm5t ( fossil fuel assets ,section #eed ( title #aa ( ! ,unit$ ,/ates ,code is am5d$ by add+ at ! end ! foll[+3 7e7 ,no prop]ty ( ! e/ate may be ab&on$ z burd5some to ! e/ate "u ?is section if ! prop]ty 0 or may be utiliz$ to facilitate ! exploration1 production1 ref9em5t1 or di/ribution ( oil1 gas1 coal1 or any d]ivative ( oil1 gas1 or coal4 4 #f4 ,ext5sion to look-back p]iod = fraudul5t transf]s & obligations ,section #edh7;a7 ( title #aa ( ! ,unit$ ,/ates ,code is am5d$-- 7#a7 9 p>agraph 7#a7 by /rik+ ,! tru/ee & ins]t+ ,unless specifi$ o!rwise 9 ?is section1 ! tru/ee2 & 7#b7 by add+ at ! end ! foll[+3 7#c7 ,) respect to a debtor t is a fossil fuel company1 ! tru/ee may avoid any transf] 7includ+ any transf] to or = ! b5efit ( an insid] "u an employm5t contract7 ( an int]e/ ( ! debtor 9 prop]ty1 or any obligation 7includ+ any obligation to or = ! b5efit ( an insid] "u an employm5t contract7 incurr$ by ! debtor1 t 0 made or incurr$ on or )9 #aj ye>s be=e ! date ( ! fil+ ( ! petition if ! debtor act$ pursuant to subp>agraphs 7,a7 & 7,b7 ( p>agraph 7#a74 4 #g4 ,limitation on transf] ( c]ta9 leases 7a7 ,def9itions ,9 ?is section3 7#a7 ,cov]$ lease ,! t]m cov]$ lease means-- 7,a7 an oil1 gas1 or coal lease issu$ "u ! ,m9]al ,leas+ ,act 7#cj ,u4,s4,c4 #aha et seq472 & 7,b7 a lease issu$ "u ! ,out] ,cont95tal ,%elf ,l&s ,act 7#dc ,u4,s4,c4 #acca et seq474 7#b7 ,secret>y ,! t]m ,secret>y means ! ,secret>y ( ! ,int]ior4 7b7 ,limitation ,! ,secret>y %all include 9 ea* cov]$ lease issu$ aft] ! date ( enactm5t ( ?is ,act a provision prohibit+ ! leasehold] f transf]r+ ! cov]$ lease to ano!r p]son if ! lessee has fil$ a petition = bankruptcy "u title #aa ( ! ,unit$ ,/ates ,code4 #h4 ,effective date2 ,application ( am5dm5ts 7a7 ,effective date ,except z provid$ 9 subsection 7b71 ?is ,act & ! am5dm5ts made by ?is ,act %all take effect on ! date ( ! enactm5t ( ?is ,act4 7b7 ,application ( am5dm5ts ,! am5dm5ts made by ?is ,act %all apply only to cases comm5c$ "u title #aa ( ! ,unit$ ,/ates ,code on & aft] ! date ( enactm5t ( ?is ,act4