Sec. 305. FEDERAL OIL AND GAS ROYALTY PREPAYMENT CAP
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## SEC. 305 FEDERAL OIL AND GAS ROYALTY PREPAYMENT CAP ###
(a)In General Section 111(i) of the Federal Oil and Gas Royalty Management Act of 1982 (30 U.S.C. 1721(i)) is amended by striking “
(i)Upon ” and all that follows through “ For purposes ” and inserting the following: > > ### “(i) Limitation on Interest > > > #### “(1) In general > > Interest shall not be paid on any excessive overpayment. > > > #### “(2) Excessive overpayment defined > > For purposes” > . ###
(b)Effective Date **[**[30 U.S.C. 1721 note](/us/usc/t30/s1721)**]** The amendment made by subsection
(a)shall take effect on July 1, 2014.
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Sec. 305
FEDERAL OIL AND GAS ROYALTY PREPAYMENT CAP
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