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Treasury takes step toward oil spill trust fund

By Washington Examiner
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NEW ORLEANS (AP) — The U.S. Treasury has set out 97 pages of rules for investing and allocating money that BP PLC and other defendants will pay in Clean Water Act fines for the Gulf of Mexico oil spill of 2010.

The rules released Wednesday formally set up a trust fund for money that state and local governments will get under the RESTORE Act and procedures for getting that money.

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Budgets and Deficits Oil Treasury Department