Sec. 4. Lease sales
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/bill/113/s/2409/is/section-4A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Land may be leased pursuant to this Act 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, establish procedures for— receipt and consideration of sealed nominations for any area in the Coastal Plain for inclusion in a lease sale; the holding of lease sales after the nomination process described in paragraph (1); and public notice of and comment on designation of areas to be included in, or excluded from, a lease sale.
Bidding for leases under this Act shall be by sealed competitive cash bonus bids. For the first lease sale under this Act, the Secretary shall offer for lease those tracts the Secretary considers to have the greatest potential for the discovery of hydrocarbons, taking into consideration nominations received pursuant to subsection (b)(1), but in no case less than 200,000 acres. The Secretary shall— not later than 18 months after the date of enactment of this Act, conduct the first lease sale under this Act; not later than 1 year after the date on which the first lease sale is conducted under paragraph (1), conduct a second lease sale under this Act; and conduct additional sales at appropriate intervals if sufficient interest in exploration or development exists to warrant the conduct of the additional sales.
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