National Resilience and Recovery Fund Act
HR 10314, the National Resilience and Recovery Fund Act, establishes a new trust fund in the U.S. Treasury to support disaster resilience and recovery efforts. The fund will be financed by taxes on crude oil and natural gas production from the Gulf of Mexico, environmental taxes on petroleum, and windfall profits taxes on oil producers. Funds will be allocated to four specific federal programs: Hazard Mitigation Grant Program, Building Resilient Infrastructure and Communities, Safeguarding Tomorrow Revolving Loan Fund, and Flood Mitigation Assistance. The bill also clarifies tax definitions for crude oil and sets a 10-cent-per-barrel tax rate for the National Resilience and Recovery Fund financing.
Bill status
in committee
1 of 4 stages cleared
Introduction
Dec 2024
Committee Review
Floor Vote
President
Introduced Dec 5, 2024
Last action Dec 5, 2024
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
2
Key actions
0
Committee
1
Dec 5, 2024
Committee
Referred to the Committee on Ways and Means, and in addition to the Committees on Transportation and Infrastructure, and Financial Services, 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.
lower
Dec 5, 2024
Introduced
Introduced in House
lower
1 primary · 7 co-sponsors
Sponsors
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