Sec. 14. Adjustments and refunds
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Section 111A of the Federal Oil and Gas Royalty Management Act of 1982 ( 30 U.S.C. 1721a ) is amended— in subsection (a)— by amending paragraph
(3)to read as follows: An adjustment or a request for a refund for an obligation may be made after the adjustment period only upon written notice to and approval by the Secretary or the applicable delegated State, as appropriate, during an audit of the period which includes the production month for which the adjustment is being made. Except as provided in subparagraph (C), no adjustment may be made with respect to an obligation after the completion of an audit or compliance review of such obligation unless such adjustment is approved by the Secretary or the applicable delegated State, as appropriate. If an overpayment is identified during an audit, the Secretary shall allow a credit in the amount of the overpayment. ; and in paragraph (4)— by striking six-year and inserting four-year ; and by striking period shall and inserting period may ; and in subsection (b)(1)— in subparagraph (C), by striking and ; in subparagraph (D), by striking the period and inserting ; and ; and by adding at the end the following: is made within the adjustment period for that obligation. .
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Sec. 14
Adjustments and refunds
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