Sec. 84405. Increasing economic certainty
203 words·~1 min read·
/bill/116/hr/2/eh/section-84405A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The Secretary is authorized to and shall consider acreage rental rates, capacity fees, and other recurring annual fees in total when evaluating existing rates paid for the use of Federal land by renewable energy projects. Once a base rental rate is established upon the issuance of a right-of-way authorization, increases in the base rent shall be limited to the Implicit Price Deflator–Gross Domestic Product (IPD–GDP) index for the entire term of the right-of-way authorization.
The Secretary is authorized to reduce acreage rental rates and capacity fees, or both, for existing and new wind and solar authorizations if the Secretary determines— that the existing rates— exceed fair market value; impose economic hardships; limit commercial interest in a competitive lease sale or right-of-way grant; or are not competitively priced compared to other available land; or that a reduced rental rate or capacity fee is necessary to promote the greatest use of wind and solar energy resources, especially those resources inside priority areas.
Rental rates and capacity fees for projects that are within the boundaries of a Designated Leasing Area but not formally recognized as being in such an area shall be equivalent to rents and fees for new leases inside of a Designated Leasing Area.