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Q: What is the status of the Treasury Department regulations?
A: On September 6, 2013, the U.S. Department of the Treasury issued a proposed regulation containing draft procedures for the expenditure of RESTORE Act funds. The proposed regulation is open for public comment for 60 days, until November 5, 2013. View the proposed regulation, along with instructions for submitting comments, here. The RESTORE Act called upon the Treasury [...]
Q: Where do things stand with the RESTORE Council?
Latest update: The Council released an updated Initial Comprehensive Plan and Programmatic Environmental Assessment on August 21, 2013 and voted to approve the plan on August 28, 2013. The Gulf Coast Ecosystem Restoration Council (Council) was created by the RESTORE Act and is composed of federal officials and the governors of the five Gulf states. The Council [...]
Q: What is the BP criminal plea agreement?
A: On November 15, 2012, the U.S. Department of Justice and BP announced an agreement to resolve all criminal charges against BP resulting from the Deepwater Horizon oil disaster. In the agreement, BP agreed to plead guilty to 14 counts of criminal action and agreed to pay $4.0 billion. The bulk of this money will [...]