{"@context":"https://schema.org","@type":"Legislation","name":"ReWIND Act","description":"

Resources for Workforce Investments, Not Drilling Act or the ReWIND Act

This bill limits the financial assistance that fossil fuel companies may receive from programs that provide relief to businesses affected by the COVID-19 (i.e., coronavirus disease 2019) outbreak, the Department of Interior's authority with respect to fossil fuels, the types and amount of oil that may be placed in the Strategic Petroleum Reserve (SPR), and the issuance or modification of rules until the COVID-19 national emergency terminates.

Specifically, it prohibits fossil fuel businesses from receiving financial assistance, loans, and loan guarantees under specified provisions of the Defense Production Act of 1950 and the Coronavirus Aid, Relief, and Economic Security Act or the CARES Act. Further, certain financial institutions (e.g., banks) that receive funding under the CARES Act may not operate or invest in such businesses for two years.

In addition, Interior may not (1) conduct lease sales for oil or natural gas; (2) issue leases for oil, natural gas, or coal; (3) modify regulations related to fossil fuel; or (4) reduce or eliminate royalty rates for fossil fuel leases on federal lands and in federal waters.

The bill decreases the storage cap on the SPR and declares that privately-owned oil may not be stored in the SPR.

Finally, the bill suspends the issuance of new rules until the national emergency terminates unless the rules are specifically required to respond to, or recover from, COVID-19.

","legislationIdentifier":"S 3611","legislationType":"Bill","legislationLegalForce":"NotInForce","legislationJurisdiction":"USA","author":[{"@type":"Person","name":"Jeff Merkley","url":"https://legisdaily.com/mp/jeff-merkley-us"}],"about":{"@type":"Thing","name":"Energy"},"keywords":"Administrative law and regulatory procedures, Banking and financial institutions regulation, Cardiovascular and respiratory health, Coal, Corporate finance and management, Credit and credit markets, Emergency medical services and trauma care, Energy revenues and royalties, Energy storage, supplies, demand, Financial services and investments, Government lending and loan guarantees, Infectious and parasitic diseases, Marine and coastal resources, fisheries, Military procurement, research, weapons development, Mining, Oil and gas, Public contracts and procurement, Public participation and lobbying, Strategic materials and reserves","dateModified":"2025-06-03T00:00:00.000Z","url":"https://legisdaily.com/bill/USA-116-S-3611"}