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S. 1310 114th Congress Senate

Deficit Reduction Through Fair Oil Royalties Act

Official title: A bill to prohibit the Secretary of the Interior from issuing new oil or natural gas production leases in the Gulf of Mexico under the Outer Continental Shelf … Show full official titleShow less

Official title: A bill to prohibit the Secretary of the Interior from issuing new oil or natural gas production leases in the Gulf of Mexico under the Outer Continental Shelf Lands Act to a person that does not renegotiate its existing leases in order to require royalty payments if oil and natural gas prices are greater than or equal to specified price thresholds, and for other purposes.

Introduced: May 12, 2015 Introduced by: Edward J. Markey Democratic · Massachusetts See on congress.gov
Energy Budget deficits and national debtEnergy pricesEnergy revenues and royaltiesGulf of Mexico
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Marine and coastal resources, fisheriesOil and gas
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This bill died when the 114th Congress ended
It never became law before the 114th Congress (2015–2016) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jun 9, 2015
Committee on Energy and Natural Resources. Hearings held. Hearings printed: S.Hrg. 114-344.
May 12, 2015
Read twice and referred to the Committee on Energy and Natural Resources.
May 12, 2015
Introduced in Senate
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 Latest action June 9, 2015

Committee on Energy and Natural Resources. Hearings held. Hearings printed: S.Hrg. 114-344.

 Plain-English summary Congressional Research Service

Deficit Reduction Through Fair Oil Royalties Act

This bill prohibits the Department of the Interior from issuing new oil or natural gas production leases in the Gulf of Mexico under the Outer Continental Shelf Lands Act unless they have been renegotiated to require royalty payments if the price of oil and natural gas is greater than or equal to specified price thresholds.

Rentals or royalties received by the United States under covered leases must be deposited in the Treasury and used for federal budget deficit reduction or, if there is no federal budget deficit, federal debt reduction.

Interior must agree to a lessee's request to amend a lease to incorporate price thresholds applicable to royalty suspension requirements that are equal to or less than certain statutory price thresholds if the lease was issued for any Central and Western Gulf of Mexico tract on or after January 1, 1996, through November 28, 2000.

 Related & companion bills 1
  • S 844 A bill to repeal the medical device excise tax, and for other purposes.
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
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APA
U.S. Congress. (2026). S. 1310: Deficit Reduction Through Fair Oil Royalties Act. 114th Congress. Open America. https://openamerica.io/bill/114-S-1310/
MLA
"S. 1310: Deficit Reduction Through Fair Oil Royalties Act." 114th Congress, 2026, Open America, https://openamerica.io/bill/114-S-1310/.
Bluebook (legal)
S. 1310, 114th Cong. (2026), https://openamerica.io/bill/114-S-1310/.
Markdown link
[S. 1310: Deficit Reduction Through Fair Oil Royalties Act](https://openamerica.io/bill/114-S-1310/)
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