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The Coast Guard is issuing a final rule to increase the limits of liability for vessels, deepwater ports, and onshore facilities under the Oil Pollution Act of 1990, as amended (OPA 90) to reflect significant increases in the Consumer Price Index (CPI). This final rule also implements the simplified regulatory procedure finalized in the 2015 final rule that allowed the Coast Guard to make future required periodic CPI increases to the OPA 90 limits of liability for vessels, deepwater ports, and onshore facilities. The simplified regulatory procedure will help ensure regular, timely inflation adjustments to the limits of liability. This regulation will preserve the polluter pays principle of OPA 90. This mandate to adjust the OPA 90 limits of liability by regulation to reflect significant increases in the CPI eliminates a potential market failure by keeping the limits of liability aligned with the costs associated with oil pollution incidents, as impacted over time by inflation.

Overall Description of Deadline: Adjustment to reflect changes in the Consumer Price Index, required by statute to occur every three years.