Sec. 50262. Mineral Leasing Act modernization
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Section 17 of the Mineral Leasing Act ( 30 U.S.C. 226 ) is amended— in subsection (b)(1)(A), in the fifth sentence— by striking 12.5 and inserting 16 ; and 2/3 by inserting or, in the case of a lease issued during the 10-year period beginning on the date of enactment of the Act titled before the period at the end; and An Act to provide for reconciliation pursuant to title II of S. Con. Res. 14 , 16 2/3 percent in amount or value of the production removed or sold from the lease by striking 12 each place it appears and inserting ½ per centum 16 . 2/3 percent Section 31(e)(3) of the Mineral Leasing Act ( 30 U.S.C. 188(e)(3) ) is amended by striking 16 each place it appears and inserting 2/3 20 .
Section 17(b) of the Mineral Leasing Act ( 30 U.S.C. 226(b) ) is amended— in paragraph (1)(B), in the first sentence, by striking $2 per acre for a period of 2 years from the date of enactment of the Federal Onshore Oil and Gas Leasing Reform Act of 1987. and inserting $10 per acre during the 10-year period beginning on the date of enactment of the Act titled ; and An Act to provide for reconciliation pursuant to title II of S. Con. Res. 14 . in paragraph (2)(C), by striking $2 per acre and inserting $10 per acre .
Section 17(d) of the Mineral Leasing Act ( 30 U.S.C. 226(d) ) is amended, in the first sentence, by striking $1.50 per acre and all that follows through the period at the end and inserting $3 per acre per year during the 2-year period beginning on the date the lease begins for new leases, and after the end of that 2-year period, $5 per acre per year for the following 6-year period, and not less than $15 per acre per year thereafter, or, in the case of a lease issued during the 10-year period beginning on the date of enactment of the Act titled .
An Act to provide for reconciliation pursuant to title II of S. Con. Res. 14 , $3 per acre per year during the 2-year period beginning on the date the lease begins, and after the end of that 2-year period, $5 per acre per year for the following 6-year period, and $15 per acre per year thereafter. Section 31(e)(2) of the Mineral Leasing Act ( 30 U.S.C. 188(e)(2) ) is amended by striking $10 and inserting $20 . Section 17 of the Mineral Leasing Act ( 30 U.S.C. 226 ) is amended by adding at the end the following:
The Secretary shall assess a nonrefundable fee against any person that, in accordance with procedures established by the Secretary to carry out this subsection, submits an expression of interest in leasing land available for disposition under this section for exploration for, and development of, oil or gas. Subject to subparagraph (B), the fee assessed under paragraph
(1)shall be $5 per acre of the area covered by the applicable expression of interest. The Secretary shall, by regulation, not less frequently than every 4 years, adjust the amount of the fee under subparagraph
(A)to reflect the change in inflation. . Section 17 of the Mineral Leasing Act ( 30 U.S.C. 226 ) is amended— in subsection (b)— in paragraph (1)(A)— in the first sentence, by striking paragraphs
(2)and
(3)of this subsection and inserting paragraph
(2); and by striking the last sentence; and by striking paragraph (3); by striking subsection
(c)and inserting the following: Land made available for leasing under subsection (b)(1) for which no bid is accepted or received, or the land for which a lease terminates, expires, is cancelled, or is relinquished, may be made available by the Secretary of the Interior for a new round of competitive bidding under that subsection. ; and by striking subsection
(e)and inserting the following: Any lease issued under this section, including a lease for tar sand areas, shall be for a primary term of 10 years. A lease described in paragraph
(1)shall continue after the primary term of the lease for any period during which oil or gas is produced in paying quantities. Any lease issued under this section for land on which, or for which under an approved cooperative or unit plan of development or operation, actual drilling operations were commenced and diligently prosecuted prior to the end of the primary term of the lease shall be extended for 2 years and for any period thereafter during which oil or gas is produced in paying quantities. . Section 31 of the Mineral Leasing Act ( 30 U.S.C. 188 ) is amended— in subsection (d)(1), in the first sentence, by striking or section 17(c) of this Act ; in subsection (e)— in paragraph (2)— by striking either ; and by striking or the inclusion and all that follows through , all ; and in paragraph (3)— in subparagraph (A), by adding and after the semicolon; by striking subparagraph (B); and by striking (3)(A) payment and inserting the following: payment ; in subsection (g)— in paragraph (1), by striking as a competitive and all that follows through of this Act and inserting in the same manner as the original lease issued pursuant to section 17 ; by striking paragraph (2); by redesignating paragraphs
(3)and
(4)as paragraphs
(2)and (3), respectively; and in paragraph
(2)(as so redesignated), by striking applicable to leases issued under subsection 17(c) of this Act ( and inserting 30 U.S.C. 226(c) ) except, except ; in subsection (h), by striking subsections
(d)and
(f)of this section and inserting subsection
(d); in subsection (i), by striking (i)(1) In acting and all that follows through of this section in paragraph
(2)and inserting the following: In acting on a petition for reinstatement pursuant to subsection
(d); by striking subsection (f); and by redesignating subsections
(g)through
(j)as subsections
(f)through (i), respectively.
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