Sec. 513. OCS leasing procedures
929 words·~4 min read·
/bill/115/hr/4426/ih/section-513A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
OCS leasing procedures Section 8 of the Outer Continental Shelf Lands Act ( 43 U.S.C. 1337 ) is amended by adding at the end the following: Not later than May 1, 2018, and every 5 years thereafter, the Secretary shall review the minimum financial responsibility requirements for leases issued under this section and shall ensure that any bonds or surety required are adequate to comply with the requirements of this Act or the Oil Pollution Act of 1990 ( 33 U.S.C. 2701 et seq.). Not later than 1 year after the date of enactment of this subsection and every 3 years thereafter, the Secretary shall carry out a review and prepare a report setting forth— the royalty and rental rates included in new offshore oil and gas leases; and the rationale for the rates; whether, in the view of the Secretary, the royalty and rental rates described in subparagraph
(A)will yield a fair return to the public while promoting the production of oil and gas resources in a timely manner; the minimum bond or surety amounts required pursuant to offshore oil and gas leases; and the rationale for the minimum amounts; whether the bond or surety amounts described in subparagraph
(C)are adequate to comply with subsection (q); and whether the Secretary intends to modify the royalty or rental rates, or bond or surety amounts, based on the review. In carrying out a review and preparing a report under paragraph (1), the Secretary shall provide to the public an opportunity to participate. Not later than 30 days after the date on which the Secretary completes a report under paragraph (1), the Secretary shall transmit copies of the report to— the Committee on Energy and Natural Resources of the Senate; and the Committee on Natural Resources of the House of Representatives. Not later than 2 years after the date of enactment of this subsection and every 5 years thereafter, the Secretary shall carry out a comprehensive review of all components of the Federal offshore oil and gas fiscal system, including requirements for— bonus bids; rental rates; royalties; and oil and gas taxes. A review under paragraph
(1)shall include— the information and analyses necessary to compare the offshore bonus bids, rents, royalties, and taxes of the Federal Government to the offshore bonus bids, rents, royalties, and taxes of other resource owners, including States and foreign countries; and an assessment of the overall offshore oil and gas fiscal system in the United States, as compared to foreign countries. In carrying out a review under paragraph (1), the Secretary shall convene and seek the advice of the Royalty Policy Committee. The Secretary shall prepare a report that contains— the contents and results of the review carried out under paragraph
(1)for the period covered by the report; and any recommendations of the Secretary based on the contents and results of the review. Not later than 30 days after the date on which the Secretary completes a report under paragraph (1), the Secretary shall transmit copies of the report to the Committee on Natural Resources of the House of Representatives and the Committee on Energy and Natural Resources of the Senate. . Section 8 of the Outer Continental Shelf Lands Act ( 43 U.S.C. 1337 ) is amended by striking subsection
(d)and inserting the following: No bid or request for a lease, easement, or right-of-way under this section, or for a permit to drill under section 11(d), may be submitted by any person unless the person certifies to the Secretary that the person (including any related person and any predecessor of such person or related person) meets each of the following requirements: The person is meeting due diligence, safety, and environmental requirements on other leases, easements, and rights-of-way. In the case of a person that is a responsible party for a vessel or a facility from which oil is discharged, for purposes of section 1002 of the Oil Pollution Act of 1990 ( 33 U.S.C. 2702 ), the person has met all of its obligations under that Act to provide compensation for covered removal costs and damages. If the Secretary determines that a certification made under paragraph
(1)is false, the Secretary shall cancel any lease, easement, or right-of-way and shall revoke any permit with respect to which the certification was required under such paragraph. For purposes of this subsection, the term related person includes a parent, subsidiary, affiliate, member of the same controlled group, contractor, subcontractor, a person holding a controlling interest or in which a controlling interest is held, and a person with substantially the same board members, senior officers, or investors. . Section 8 of the Outer Continental Shelf Lands Act ( 43 U.S.C. 1337 ) is amended by adding at the end of subsection
(a)the following: At least 60 days prior to any lease sale, the Secretary shall request a review by the Secretary of Commerce of the proposed sale with respect to impacts on the marine and coastal environment. The Secretary of Commerce shall complete and submit in writing the results of that review within 60 days after receipt of the Secretary of the Interior’s request. . Section 8(b) of the Outer Continental Shelf Lands Act ( 43 U.S.C. 1337(b) ) is amended by striking An oil and gas lease issued pursuant to this section shall and inserting An oil and gas lease may be issued pursuant to this section only if the Secretary determines that activities under the lease are not likely to result in any condition described in section 5(a)(2)(A)(i), and shall .
Connectionstraces to 3
Traces to 3 documents
Citation graph
cites case law
Cites 3Cited by 0 across 0 sources