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National Resilience Fund: New Taxes for Disaster Preparedness

This act establishes a new fund to help finance disaster response and prevention programs. The fund will be supported by new or amended taxes on crude oil and natural gas. The goal is to enhance community safety and resilience against natural disasters.
Key points
A National Resilience and Recovery Fund is established, financed by new oil and gas taxes.
The fund will support FEMA programs like hazard mitigation grants and resilient infrastructure building.
New excise taxes are introduced on crude oil windfall profits and Gulf of Mexico offshore oil and gas production.
The definition of crude oil for tax purposes is expanded to include tar sands and oil shale.
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Additional Information
Print number: 118_HR_10314
Sponsor: Rep. Stansbury, Melanie A. [D-NM-1]
Process start date: 2024-12-05
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

National Resilience and Recovery Fund Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_10314.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2024-12-05.

What are the main provisions?

Key points include:

  • A National Resilience and Recovery Fund is established, financed by new oil and gas taxes.
  • The fund will support FEMA programs like hazard mitigation grants and resilient infrastructure building.
  • New excise taxes are introduced on crude oil windfall profits and Gulf of Mexico offshore oil and gas production.
  • The definition of crude oil for tax purposes is expanded to include tar sands and oil shale.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Stansbury, Melanie A. [D-NM-1].

What is the latest detailed status?

The latest detailed status is: Introduced in House

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-24.

CATEGORIES

Taxes Environment Public Investments