Fair Returns for Public Lands Act of 2021
- Last Action
- 3/9/2021
Actions
- 2021-03-09Read twice and referred to the Committee on Energy and Natural Resources.
- 2021-03-09Introduced in Senate
CRS Summary
As of 2021-03-09 (00)
Fair Returns for Public Lands Act of 2021
This bill revises the royalty system applicable to leases of public lands for oil and gas production.
Specifically, it increases royalty rates, rental rates, and minimum bidding standards for onshore oil and gas leasing. In addition, it establishes a new fee that must be paid by any person who nominates public lands for such leasing.
Finally, the bill requires the Department of the Interior to adjust these rates and fees for inflation at least every four years.
Cosponsors (2)
- Charles Grassley (R-IA)
- John Hickenlooper (D-CO)
Subjects
- Accounting and auditing
- Administrative law and regulatory procedures
- Congressional oversight
- Department of the Interior
- Energy revenues and royalties
- Government studies and investigations
- Inflation and prices
- Oil and gas
- Performance measurement
- User charges and fees
Sourced from Congress.gov (public domain).
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.