This legislation would establish an Oil & Gas Community Trust Fund to support infrastructure and public services in communities near major oil and gas export ports, without creating a new tax.
Establish an Oil & Gas Community Trust Fund financed by a share of existing federal oil and gas corporate tax revenue to fund infrastructure and public services in communities near major oil and gas export ports.
Occurrences
Full Title To amend the Internal Revenue Code of 1986 to establish a dedicated trust fund for investments in oil and gas communities.
Evidence
unverified · Source version 72474 · locator unknown
Last Action Date Listed September 16, 2026 Action Mr. Vicente Gonzalez of Texas introduced the following bill; which was referred to the Committee on Ways and Means, and in addition to the Committee on Oversight and Government Reform
verified · Source version 72476 · locator 40
To amend the Internal Revenue Code of 1986 to establish a dedicated trust fund for investments in oil and gas communities.
unverified · Source version 72476 · locator unknown
There is established in the Treasury of the United States a trust fund to be known as the ‘Oil and Gas Community Trust Fund’
unverified · Source version 72476 · locator unknown
amounts equivalent to 3 percent of the net revenues received in the Treasury under section 11 from specified oil or gas companies
unverified · Source version 72476 · locator unknown
for purposes of making payments to eligible oil and gas communities for infrastructure and public service investments.
Assessments
The verified commitment describes legislation that would establish an Oil & Gas Community Trust Fund to support infrastructure and public services near major oil and gas export ports. Verified evidence shows H.R. 10434 is a bill to amend the Internal Revenue Code to establish a dedicated trust fund for oil and gas communities, which supports concrete same-term legislative effort. But the verified evidence only shows an introduced measure/purpose, not enacted law or an established trust fund. Because the promised outcome has not been shown delivered and no deadline has expired, the status remains unresolved rather than partial or delivered.