H.R. 1505 · 117th Congress
Bonding Reform and Taxpayer Protection Act of 2021
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Never voted on. It didn't reach a floor vote before the 117th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
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LowenthalSponsor15 cosponsors · 15 D
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Barragán
MC
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Cartwright
RG
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Grijalva
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Huffman
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Lee
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Levin
EB
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Blumenauer
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DeGette
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McCollum
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Cohen
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Hastings
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Quigley
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Leger Fernandez
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Porter
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Casten6 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill revises bonding requirements for oil and gas development on public land leased from the federal government. Such bonds are required to ensure oil and gas developers have adequate financial resources for implementing reclamation plans to restore public land after oil and gas development (e.g., drilling operations) ceases.
What it does: CRS summary · Reported to House · Dec 14, 2022
Bonding Reform and Taxpayer Protection Act of 2021
This bill revises bonding requirements for oil and gas development on public land leased from the federal government. Such bonds are required to ensure oil and gas developers have adequate financial resources for implementing reclamation plans to restore public land after oil and gas development (e.g., drilling operations) ceases.
Specifically, the bill increases the bond amounts that oil and gas developers must provide prior to conducting surface-disturbing activities and requires such amounts to adjust at least once every three years for inflation. In addition, the bill sets fees to cover the cost for inspection and enforcement with respect to such leases.
The bill also requires the Bureau of Land Management (BLM) and the U.S. Forest Service (USFS) to establish uniform standards for all interim and final reclamation plans. BLM and USFS may not release any bond amounts until the standards have been met by oil and gas developers and the inspection fees have been paid.
Finally, the bill gives the U.S. Fish and Wildlife Service the authority to obtain and retain adequate financial assurances (e.g., bonds) from nonfederal entities to repair potential damages to resources of the National Wildlife Refuge System prior to the commencement of activities related to mineral development, such as oil and gas operations.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Bonding Reform and Taxpayer Protection Act of 2021
Latest action (Dec 14, 2022): Placed on the Union Calendar, Calendar No. 453.
Policy area: Energy · Origin: House · Introduced: Mar 2, 2021
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.