HR 3859
113th Congress
House
Energy
Energy revenues and royalties
Inflation and prices
Oil and gas
Public contracts and procurement
Oil and Gas Leasing Inflation Adjustment Act
Introduced: January 13, 2014
See on congress.gov
Everywhere this bill has been
3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 15, 2014
Referred to the Subcommittee on Energy and Mineral Resources.
Jan 13, 2014
Referred to the House Committee on Natural Resources.
Jan 13, 2014
Introduced in House
Plain-English summary
Oil and Gas Leasing Inflation Adjustment Act - Amends the Mineral Leasing Act to increase from $2 per acre to $4 per acre the national minimum acceptable bid for oil and gas leases.
Increases from $2 per acre to $5 per acre the minimum acceptable bid for a tar sand lease.
Increases the annual rental of a lease from $1.50 per acre to $3 per acre for the first through the fifth year of the lease.
Increases the annual lease rental from $2 per acre to $4 per acre for each year after such fifth year.
Directs the Secretary of the Interior to make a cost-of-living adjustment of such dollar amounts at least once every four years and to publish each one in the Federal Register.
What's happening now
Referred to the Subcommittee on Energy and Mineral Resources.
Committees of jurisdiction
2