Sec. 3. Review of regulations and policies the royalty policy committee advisory activities should include
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/bill/114/hr/5259/rh/section-3A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Not later than 180 days after the date of the issuance by the Department of the Interior of any proposed regulation or policy related to mineral leasing policy for Federal or Indian land for exploration, development, or production of oil, gas, or coal (including valuation methodologies and royalty and lease rates for oil, gas, or coal), and not later than 180 days after the date of the enactment of this Act with respect to any proposed regulation of such Department relating to such policy that is pending as of the date of the enactment of this Act, the Committee shall— assess the proposed regulation or policy; and issue a report that describes the potential impact of the proposed regulation or policy, including any State and tribal economic impacts described in subsection (b).
Before the date on which any proposed regulation related to mineral leasing policy on Federal or Indian land (including valuation methodologies and royalty and lease rates for oil, gas, or coal) may be issued as a final rule, the State and Tribal Resources Board shall publish a determination of the impact of the regulation on school funding, public safety, and other essential State or Indian tribal government services. If the State and Tribal Resources Board determines that a regulation described in paragraph
(1)will have a negative State or tribal budgetary impact, the Secretary shall, upon request by the Board, grant a delay of 180 days in the finalization of the regulation for the purposes of further— stakeholder consultation; budgetary review; and development of a proposal to mitigate the negative economic impact. Before the date on which any proposed regulation related to mineral leasing policy on Federal or Indian land (including valuation methodologies and royalty and lease rates for oil, gas, or coal) is issued as a final rule, the Secretary shall publish in the Federal Register, in the same docket as such proposed regulation, a description of the impacts determined by the Board in the report issued under subsection (a)(2), the recommendations made by the Board (if any) for mitigation of negative impacts determined by the Board under subsection (b)(2), and a clear explanation of why such recommendations of the Board were or were not incorporated in the final regulation. Any final regulation subject to paragraph
(1)must include— a summary of the report required under subsection (a)(2); and a clear explanation of why the recommendations of that report (including the State and tribal determination) were or were not taken into account in the finalization of the regulation.