Page:United States Statutes at Large Volume 114 Part 3.djvu/1010

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114 STAT. 2032 PUBLIC LAW 106-469—NOV. 9, 2000 (iii) in paragraph (4), by striking "90" and inserting "9 5"; (iv) in paragraph (5), by striking "drawdown and distribution" and inserting "test"; (v) by amending paragraph (6) to read as follows: "(6) In the case of a sale of any petroleum products under this subsection, the Secretary shall, to the extent funds are available in the SPR Petroleum Account as a result of such sale, acquire petroleum products for the Reserve within the 12-month period beginning after completion of the sale."; and (vi) in paragraph (8), by striking "drawdown and distribution" and inserting "test"; (G) in subsection (h)— (i) in paragraph (1) by striking "distribute" and inserting "sell petroleum products from"; (ii) by striking "and" at the end of paragraph (1)(A) and by striking "shortage," at the end of paragraph (1)(B) and inserting "shortage; and "(C) the Secretary of Defense has found that action taken under this subsection will not impair national security,"; (iii) in paragraph (2) by striking "In no case may the Reserve" and inserting "Petroleum products from the Reserve may not"; and (iv) in paragraph (3) by striking "distribution" each time it appears and inserting "sale"; (16) by striking section 164 (42 U.S.C. 6244) and its heading; (17) by amending section 165 (42 U.S.C. 6245) and its heading to read as follows: "ANNUAL REPORT "SEC. 165. The Secretary shall report annually to the President and the Congress on actions taken to implement this part. This report shall include— "(1) the status of the physical capacity of the Reserve and the type and quantity of petroleum products in the Reserve; "(2) an estimate of the schedule and cost to complete planned equipment upgrade or capital investment in the Reserve, including upgrades and investments carried out as part of operational maintenance or extension of life activities; "(3) an identification of any life-limiting conditions or operational problems at any Reserve facility, and proposed remedial actions including an estimate of the schedule and cost of implementing those remedial actions; "(4) a description of current withdrawal and distribution rates and capabilities, and an identification of any operational or other limitations on those rates and capabilities; "(5) a listing of petroleum product acquisitions made in the preceding year and planned in the following year, including quantity, price, and type of petroleum; "(6) a summary of the actions taken to develop, operate, and maintain the Reserve; "(7) a summary of the financial status and financial transactions of the Strategic Petroleum Reserve and Strategic Petroleum Reserve Petroleum Accounts for the year;