Oil Spill Liability Trust Fund

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The Oil Spill Liability Trust Fund is a U.S. federal fund that provides money for oil spill cleanup and damages when responsible parties cannot or do not pay.

All labels observed (2)

How this entity was disambiguated

Statements (49)

Predicate Object
instanceOf federal trust fund
oil spill response fund
administeredBy United States Coast Guard
surface form: U.S. Coast Guard

U.S. Coast Guard National Pollution Funds Center
claimantsInclude federal agencies
local governments
private parties
state governments
tribal governments
country United States of America
surface form: United States
covers governmental response costs
loss of profits and earning capacity
loss of subsistence use of natural resources
natural resource damages
property damage
removal costs
createdBy Oil Pollution Act
surface form: Oil Pollution Act of 1990
currency US dollar
surface form: USD
effectiveFrom 1990
fundingSource civil penalties
cost recoveries from responsible parties
interest on invested funds
per-barrel tax on domestic crude oil and imported petroleum products
jurisdiction United States government
surface form: United States federal government
legalBasis Internal Revenue Code
Oil Pollution Act
surface form: Oil Pollution Act of 1990
managedBy United States Coast Guard
surface form: U.S. Department of Homeland Security through the U.S. Coast Guard
oversightBy United States Congress
surface form: U.S. Congress
predecessor Oil Spill Liability Trust Fund self-linksurface differs
surface form: 1986 Oil Spill Liability Trust Fund (not fully activated until OPA 90)
purpose ensure prompt oil spill response when responsible parties are unable to pay
ensure prompt oil spill response when responsible parties are unknown
ensure prompt oil spill response when responsible parties do not pay
provide funds for oil spill damages
provide funds for oil spill removal costs
relatedLegislation Comprehensive Environmental Response, Compensation, and Liability Act
riskAddressed oil pollution in adjoining shorelines
oil pollution in navigable waters of the United States
oil pollution in the exclusive economic zone of the United States
sector environmental protection
maritime transportation
statutoryLimitPerIncidentDescription up to $1 billion per incident
statutoryLimitPerIncidentUSD 1000000000
subLimitRemovalCostsDescription up to $500 million per incident for removal costs
subLimitRemovalCostsUSD 500000000
supportsAgency National Oceanic and Atmospheric Administration
United States Department of the Interior
surface form: U.S. Department of the Interior

United States Environmental Protection Agency
surface form: U.S. Environmental Protection Agency
usedFor federal oil spill response
payment of uncompensated claims for oil spill damages

How these facts were elicited

Referenced by (5)

Full triples — surface form annotated when it differs from this entity's canonical label.

Oil Pollution Act creates Oil Spill Liability Trust Fund
subject surface form: Oil Pollution Act of 1990
OPA establishes Oil Spill Liability Trust Fund
subject surface form: Oil Pollution Act of 1990
Oil Spill Liability Trust Fund predecessor Oil Spill Liability Trust Fund self-linksurface differs
this entity surface form: 1986 Oil Spill Liability Trust Fund (not fully activated until OPA 90)
Public Law 101-380 establishes Oil Spill Liability Trust Fund
U.S. Coast Guard National Pollution Funds Center managesFund Oil Spill Liability Trust Fund