Sec. 201. Outer Continental Shelf oil and gas leases offshore Alaska
511 words·~2 min read·
/bill/114/s/3203/is/section-201A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The Outer Continental Shelf Lands Act is amended by inserting after section 9 ( 43 U.S.C. 1338 ) the following: Notwithstanding any other provision of law, any oil and gas lease on the outer Continental Shelf Alaska region issued under section 8 on or after the date of enactment of the Alaska Economic Development and Access to Resources Act shall be subject to 1 suspension period each year, as described in paragraph (2), during which the primary term of the lease shall not run. The suspension period referred to in paragraph
(1)is a suspension period selected by the lessee of either the period— beginning on November 1 of a calendar year and ending on June 30 of the succeeding calendar year; or beginning on March 1 of a calendar year and ending on October 31 of the same calendar year. The lessee shall provide to the Secretary written notice of the selection of the suspension period under paragraph (2). After providing written notice to the Secretary, the lessee may modify the suspension period selected under paragraph (2), which modification shall be effective for the year following the lease year during which the Secretary receives the notice of the modification. Notwithstanding paragraph (1), a lessee or operator of an oil and gas lease on the outer Continental Shelf Alaska region may conduct operations under the lease during the suspension period, on the condition that the term of the lease shall run for the number of days that the lessee or operator conducts the operations during the suspension period. For any lease subject to a suspension period under this section, the lessee shall make rental payments for the entire lease year. Notwithstanding any other provision of law, this subsection shall apply to an oil and gas lease on the outer Continental Shelf Alaska region in effect on the date of enactment of the Alaska Economic Development and Access to Resources Act only if, not later than 90 days after that date, the lessee provides to the Secretary written notice that the lessee is electing to accept the provisions of this subsection with respect to that lease. If the lessee elects under subparagraph
(A)to accept the provisions of this subsection with respect to an oil and gas lease of the lessee, beginning in the lease year that is 10 years after the effective date of the lease, the annual rental established for that lease shall increase by $2.50 per hectare per year. Notwithstanding any other provision of law, the Secretary shall not issue an oil and gas lease on the outer Continental Shelf Alaska region for a primary term of fewer than 10 years. Notwithstanding section 9, for each applicable fiscal year, the Secretary of the Treasury shall disburse 90 percent of the amounts collected in that fiscal year as a result of the increase in annual rental payments under subsection (a)(7)(B) to the State of Alaska. Nothing in this section limits the authority of the Secretary to grant or direct a suspension of a lease or permit under section 5(a)(1). .
Connectionstraces to 1
Traces to 1 document
U.S. Code
Citation graph
cites case law
Sec. 201
Outer Continental Shelf oil and gas leases offshore Alaska
Cites 1Cited by 0 across 0 sources