Sec. 5004. Lease sales
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In accordance with the requirements of this subtitle, the Secretary may lease land under this subtitle to any person qualified to obtain a lease for deposits of oil and gas under the Mineral Leasing Act ( 30 U.S.C. 181 et seq. ). The Secretary shall, by regulation and not later than 180 days after the date of enactment of this Act, establish procedures for— receipt and consideration of sealed nominations for any area of the Coastal Plain for inclusion in, or exclusion from, a lease sale; the holding of lease sales after the nomination process; and public notice of and comment on designation of areas to be included in, or excluded from, a lease sale.
Lease sales under this subtitle may be conducted through an Internet leasing program, if the Secretary determines that the Internet leasing program will result in savings to the taxpayer, an increase in the number of bidders participating, and higher returns than oral bidding or a sealed bidding system. The Secretary shall— offer for lease under this subtitle— those tracts the Secretary considers to have the greatest potential for the discovery of hydrocarbons, taking into consideration nominations received under subsection (b)(1); and not fewer than 50,000 acres by not later than 22 months after the date of the enactment of this Act; and not fewer than an additional 50,000 acres at 6-, 12-, and 18-month intervals following the initial offering under subclause (i); conduct 4 additional lease sales under the same terms and schedule as the last lease sale under paragraph (1)(B)(ii) not later than 2 years after the date of that sale, if sufficient interest in leasing exists to warrant, in the judgment of the Secretary, the conduct of the sales; and evaluate the bids in each lease sale under this subsection and issue leases resulting from the sales not later than 90 days after the date on which the sale is completed.
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