Sec. 233. ANNUAL RENTAL
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## SEC. 233 ANNUAL RENTAL ###
(a)Annual Rental Rate Section 5 of the Geothermal Steam Act of 1970 (30 U.S.C. 1004) (as amended by section 223(a)) is further amended in subsection
(a)by striking paragraph
(3)and inserting the following: > > #### “(3) > > payment in advance of an annual rental of not less than— > > > ##### “(A) > > for each of the 1st through 10th years of the lease— > > > ###### “(i) > > in the case of a lease awarded in a noncompetitive lease sale, $1 per acre or fraction thereof; or > > > ###### “(ii) > > in the case of a lease awarded in a competitive lease sale, $2 per acre or fraction thereof for the 1st year and $3 per acre or fraction thereof for each of the 2nd through 10th years; and > > > ##### “(B) > > for each year after the 10th year of the lease, $5 per acre or fraction thereof;” > . ###
(b)Termination of Lease for Failure to Pay Rental Section 5 of the Geothermal Steam Act of 1970 (30 U.S.C. 1004) (as amended by sections 223, 224, 230, and 232) is further amended by adding at the end the following: > > ### “(g) Termination of Lease for Failure to Pay Rental > > > #### “(1) In general > > The Secretary shall terminate any lease with respect to which rental is not paid in accordance with this Act and the terms of the lease under which the rental is required, on the expiration of the 45-day period beginning on the date of the failure to pay the rental. > > > #### “(2) Notification > > The Secretary shall promptly notify a lessee that has not paid rental required under the lease that the lease will be terminated at the end of the period referred to in paragraph (1). > > > #### “(3) Reinstatement > > A lease that would otherwise terminate under paragraph
(1)shall not terminate under that paragraph if the lessee pays to the Secretary, before the end of the period referred to in paragraph (1), the amount of rental due plus a late fee equal to 10 percent of the amount.” > .
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U.S. Code