H.R. 10434
Creates trust fund for oil and gas port communities
Sets up a federal fund holding an amount equal to 3% of corporate income taxes paid by certain oil and gas companies, to pay for roads and services in communities near oil and gas export ports.
- Fund receives an amount equal to 3% of corporate income taxes from companies with a big share of oil and gas business
- Payments go to counties, cities, or Tribal communities within 50 miles of a major oil or gas export port
- Money is for infrastructure and public service projects
- A port region's yearly payments cannot be more than its share of exports among all major ports
In committee