H.R. 4521 · 111th Congress
Royalty Relief for American Consumers Act of 2010
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Never voted on. It didn't reach a floor vote before the 111th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
MarkeySponsor3 cosponsors · 3 D
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Royalty Relief for American Consumers Act of 2010 - Directs the Secretary of the Interior to agree to a request by a lessee to amend any lease issued for any Central and Western Gulf of Mexico tract between January 1, 1998, and January 1, 2000, to incorporate price thresholds applicable to royalty suspension provisions that are equal to or less than…
What it does: CRS summary · Introduced in House · Jan 26, 2010
Royalty Relief for American Consumers Act of 2010 - Directs the Secretary of the Interior to agree to a request by a lessee to amend any lease issued for any Central and Western Gulf of Mexico tract between January 1, 1998, and January 1, 2000, to incorporate price thresholds applicable to royalty suspension provisions that are equal to or less than specified price thresholds described in the Outer Continental Shelf Lands Act (OCSLA).
Requires: (1) an amended lease to impose the new or revised price thresholds effective October 1, 2010; and (2) existing lease provisions to prevail through September 30, 2010.
Prohibits the Secretary from issuing a new lease to certain persons or entities with any direct or indirect interest in, or who derive any benefit from, a covered lease unless they renegotiate the lease to include such price thresholds or have paid or formally agreed to pay all conservation of resources fees established under this Act.
Directs the Secretary to establish a conservation of resources fee for producing and nonproducing federal oil and gas leases in the Gulf of Mexico.
Applies the same lease renegotiation and conservation of resources fee payment eligibility criteria to any lessee or other interested person who seeks to obtain by sale or transfer (including through a swap, spinoff, servicing, or other agreement) any covered lease, the economic benefit of any covered lease, or any other lease for the production of oil or natural gas in the Gulf of Mexico under OCSLA.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Royalty Relief for American Consumers Act of 2010
Latest action (Jan 29, 2010): Referred to the Subcommittee on Energy and Mineral Resources.
Policy area: Public Lands and Natural Resources · Origin: House · Introduced: Jan 26, 2010
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.