Page:United States Statutes at Large Volume 95.djvu/645

 PUBLIC LAW 97-35—AUG. 13, 1981

95 STAT. 619

FINANCING OF THE STRATEGIC PETROLEUM RESERVE

SEC. 1034. (a)(1) Part B of title I of the Energy Policy and Conservation Act (42 U.S.C. 6231-6246) is amended by adding at the end thereof the following: "SPR PETROLEUM ACCOUNT

"SEC. 167. (a) The Secretary of the Treasury shall establish in the Treasury of the United States an account to be known as the 'SPR Petroleum Account' (hereinafter in this section referred to as the 'Account'). "(b) Amounts in the Account may be obligated by the Secretary of Energy for the acquisition, transportation, and injection of petroleum products into the Strategic Petroleum Reserve, and the drawdown and delivery of petroleum products from the Reserve— "(1) in the case of fiscal year 1982, in an aggregate amount, not to exceed $3,900,000,000, as may be provided in advance in appropriation Acts; "(2) in the case of any fiscal year after fiscal year 1982, subject to section 660 of the Department of Energy Organization Act, in such aggregate amounts as may be appropriated in advance in appropriation Acts; and "(3) in the case of any fiscal year, notwithstanding section 660 of the Department of Energy Organization Act, in an aggregate amount equal to the aggregate amount of the receipts to the United States from the sale of petroleum products in any drawdown and distribution of the Strategic Petroleum Reserve under section 161. Funds available to the Secretary of Energy for obligation under this subsection may remain available without fiscal year limitation. "(c) The Secretary of the Treasury shall provide and deposit into the Account such sums as may be necessary to meet obligations of the Secretary of Energy under subsection (b). "(d) The Account, the deposits and withdrawals from the Account, and the transactions, receipts, obligations, outlays associated with such deposits and withdrawals (including petroleum product purchases and related transactions), and receipts to the United States from the sale of petroleum products in any drawdown and distribution of the Strategic Petroleum Reserve under section 161— "(1) shall not be included in the totals of the budget of the United States Government and shall be exempt from any general limitation imposed by statute on expenditures and net lending (budget outlays) of the United States; and "(2) shall not be deemed to be budget authority, spending authority, budget outlays, or Federal revenues for purposes of title III of Public Law 93-344, as amended.". (2) The table of contents for the Energy Policy and Conservation Act is amended by adding after the item relating to section 166 the following new item: "Sec. 167. SPR Petroleum Account.".

(b) Section 166 of the Energy Policy and Conservation Act (42 U.S.C. 6246) is amended by striking out "and" at the end of paragraph (2), by striking out the period at the end of paragraph (3) and inserting in lieu thereof "; and", and by adding at the end thereof the following new paragraph:

Establishment. ^^ use 6247.

42 USC 7270.

42 USC 6241.

31 USC 1321.

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