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Prohibits the removal of any such platforms until the Secretary has completed each assessment.
Requires suspension of the decommissioning of a platform if a substantial reef ecosystem is in the vicinity until the Secretary determines that decommissioning would not harm the ecosystem.
Exempts from certain platform removal deadlines any lessees who: (1) commit to entering a particular platform in the artificial reef program under the National Fishing Enhancement Act of 1984, and (2) initiate discussions with applicable states regarding potential artificial reef sites.
Allows a lessee to provide for reefing in place under the artificial reef program.
Permits states with a state rig-to-reef program to enter agreements with any appropriate entities to assume liability in federal water for a structure covered by the state program.
Establishes a Reef Maintenance Fund. Requires the owner of a rig enrolled in the artificial reef program to: (1) maintain a rig anode system; and (2) pay into the Fund 50% of the estimated platform removal costs for which the owner would have been responsible if it had not participated in the program.
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