Talk:Moving Ahead for Progress in the 21st Century Act

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RESTORE Act

Latest comment: 11 years ago1 comment1 person in discussion

One of the "unrelated" projects that was attached to this bill was the RESTORE Act. IN brief, the "Act" (previously a separate Senate/House Bill) shunts 80% of the civil and adminstrative penalties arising from the Deepwater Horizon oils spill of 2010 to a Gulf Coast restoration fund. The proceeds would usually go to a generic national oil spill recovery fund. Additionally, the RESTORE Act (sections 1601 and 1602 I believe) delineates the eligible activities for the Fund to fund, and establishes a Council to oversee the process. About 35% of the funds get doled out to each of the 5 states (7% each), 30% are put toward restoration projects selected by the Council (rep from each of the 5 states, and 6 fed agencies), 30% is doled out to the states based on impact of the spill, and the remaining 5% funds some specific research and Center of Excellence work.

This will be huge politics in the coming years as it represents Billions with a b in funding going to the Gulf Coast states from the BP and Transoceans penalties. This is on top of the 40+ billion in actual damages paid to fishermen, etc. 204.65.34.29 (talk) 17:21, 4 September 2013 (UTC)Reply

Pension plan funding requirements formula change.

Latest comment: 2 years ago1 comment1 person in discussion

In H R 4348 signed into law in 2012 and known as Moving Ahead for Progress in the 21st Century (MAP 21) an attachment was included that changed how corporations funding of pension plans was formulated. That resulted in existing pension plans being “over funded”. In addition a Federal Corporation to Guarantee Pension Payments was funded to cover liabilities of pension payments to recipients for corporations that cease their pension plans. Wikipedia did not include that in the review. 2603:8001:3B00:583D:E0D7:87AF:5168:2546 (talk) 17:00, 2 June 2022 (UTC)Reply

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