Sec. 3. Lease terms of certain Chukchi and Beaufort leases
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/bill/114/s/1278/is/section-3·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 8(b)(2) of the Outer Continental Shelf Lands Act ( 43 U.S.C. 1337(b)(2) ) is amended— in subparagraph (A), by striking or at the end; in subparagraph (B), by striking ; and inserting ; or ; and by adding at the end the following: in the case of an oil and gas lease in the portion of the Beaufort Planning Area or Chukchi Planning Area that is beyond 3 nautical miles of the seaward boundary of the State of Alaska, 20 years; . The Secretary, with the consent of the holder of a covered lease described in paragraph (2), shall extend the initial term of the covered lease to 20 years. A covered lease referred to in paragraph
(1)is a lease for oil and gas production in effect on the date of enactment of this Act that was issued under section 8 of the Outer Continental Shelf Lands Act ( 43 U.S.C. 1337 ) for a portion of the Beaufort Planning Area or Chukchi Planning Area that is beyond 3 nautical miles of the seaward boundary of the State.
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Sec. 3
Lease terms of certain Chukchi and Beaufort leases
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