Sec. 71414. Idled well fees
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/bill/117/hr/5376/eh/section-71414·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The Secretary of the Interior shall, not later than 180 days after the date of enactment of this section, issue regulations to require each operator of an idled well on Federal land and the Outer Continental Shelf to pay an annual, nonrefundable fee for each such idled well in accordance with this subsection. Except as provided in subsection (d), the amount of the fee shall be as follows: $500 for each well that has been considered an idled well for at least 1 year, but not more than 5 years. $1,500 for each well that has been considered an idled well for at least 5 years, but not more than 10 years. $3,500 for each well that has been considered an idled well for at least 10 years, but not more than 15 years. $7,500 for each well that has been considered an idled well for at least 15 years.
An owner of an idled well that is required to pay a fee under this section shall submit to the Secretary of the Interior such fee by not later than October 1 of each year. The Secretary of the Interior shall, by regulation not less than once every 4 years, adjust each fee under this section to account for inflation. All funds collected pursuant to subsection
(a)shall be deposited into the United States Treasury General Fund. For the purposes of this section, the term idled well means a well that has been non-operational for at least two consecutive years and for which there is no anticipated beneficial future use.