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H.R. 6418 · 110th Congress

Developing Resources Immediately and Long-Term through Leases on Our Nation's Offshore Waters Act of 2008

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Developing Resources Immediately and Long-Term through Leases on Our Nation's Offshore Waters Act of 2008, or DRILL NOW Act of 2008 - Declares without force or effect all existing federal law which prohibits spending appropriated funds to conduct oil and natural gas leasing and preleasing on the outer Continental Shelf.

What it does: CRS summary · Introduced in House · Jun 26, 2008

Developing Resources Immediately and Long-Term through Leases on Our Nation's Offshore Waters Act of 2008, or DRILL NOW Act of 2008 - Declares without force or effect all existing federal law which prohibits spending appropriated funds to conduct oil and natural gas leasing and preleasing on the outer Continental Shelf.

Revokes: (1) all withdrawals from leasing on federal submerged lands of the outer Continental Shelf (including withdrawals by the President); and (2) Presidential authorities with respect to such leasing (except in the interest of national security).

Amends of the Outer Continental Shelf Lands Act to authorize a state governor to petition the Secretary of the Interior to issue leases for oil and natural gas exploration and extraction activities in any area that is at least 50 miles beyond the state's coastal zone.

Cites circumstances under which the Secretary shall approve or deny the petition.

Instructs the Secretary of the Treasury to deposit revenues from leasing operations into designated funds and accounts.

Provides that any funds that would be received by the United States as royalties under any existing federal oil and gas lease on the outer Continental Shelf that lies within 50 miles of the coastal zone of the states of Texas, Louisiana, Mississippi, or Alabama shall be paid to that state if it enacts an expenditure plan for those funds.

Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov

About this bill and sources

Official title: Developing Resources Immediately and Long-Term through Leases on Our Nation's Offshore Waters Act of 2008

Also known as: DRILL NOW Act of 2008

Latest action (Jul 2, 2008): Referred to the Subcommittee on Energy and Mineral Resources.

Policy area: Energy · Origin: House · Introduced: Jun 26, 2008

Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)

No recorded floor vote found.