HR 4389 114th Congress House Energy Alaska Alternative and renewable resources Energy revenues and royalties Inflation and prices Land use and conservation Oil and gas State and local finance

Ensuring the Taxpayer a Fair Return for Federal Onshore Oil and Gas Resources Act of 2015

Introduced: January 13, 2016 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 19, 2016

Referred to the Subcommittee on Energy and Mineral Resources.

Jan 13, 2016

Referred to the House Committee on Natural Resources.

Jan 13, 2016

Introduced in House

Plain-English summary Congressional Research Service

Ensuring the Taxpayer a Fair Return for Federal Onshore Oil and Gas Resources Act of 2015

This bill amends the Mineral Leasing Act to increase the minimum acceptable bids and rentals for leases of oil, natural gas, and tar sand on federal land.

Minimum acceptable bids and rentals shall receive inflation adjustments once every four years.

One-third of any amounts received by the United States from sales, bonuses, and royalties, including interest charges collected under the Federal Oil and Gas Royalty Management Act of 1982, and from rentals of the public lands in Alaska under the Mineral Leasing Act and the Geothermal Steam Act of 1970, shall be made available in specified percentages:

for use for oil and gas inspection and enforcement;
to remediate, reclaim, and properly plug and abandon orphan oil and gas wells on federal lands; and
to the state within whose boundaries the leased land is located, or the deposits were derived, for state use in accordance with specified requirements.

What's happening now January 19, 2016

Referred to the Subcommittee on Energy and Mineral Resources.

Committees of jurisdiction 2