This bill authorizes the Director of the Federal Bureau of Investigation (FBI) to establish a program to combat oil theft in the Permian Basin, to be carried out by a dedicated Permian Basin Oil Theft Task Force . This task force will coordinate with state, local, and Tribal law enforcement, potentially including industry experts, and will consist of at least two full-time FBI employees, with the option to include other partners. The task force is required to submit annual reports to Congress and the President detailing its activities, criminal charges, convictions, and financial expenditures. To support these efforts, the bill authorizes appropriations between $100,000 and $1,000,000. Additionally, the legislation significantly enhances criminal penalties for various oil theft-related offenses, increasing maximum prison sentences for theft from interstate shipments, transportation of stolen goods, and sale or receipt of stolen goods to up to 15 years. It also expands the authorized uses of Byrne Justice Assistance Grant (JAG) funds to include programs for reducing or combating oil theft and related crimes, such as the theft of equipment or technology, and for hiring dedicated investigative personnel.