Restoring State Mineral Revenues Act
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed House
- To President
- Became Law
Overview
This bill, the Restoring State Mineral Revenues Act, changes how the federal government distributes revenue from natural resources like oil, gas, and coal found on federal land. It eliminates a 2% administrative fee that is currently deducted from state payments for these resources. The changes aim to increase the amount of revenue states receive from these federal lands.
Key provisions
- Eliminates a 2% administrative fee from state mineral revenue payments.
- Amends Section 35 of the Mineral Leasing Act.
- Modifies Section 6(a) of the Mineral Leasing Act for Acquired Lands.
- Updates Section 20(a) of the Geothermal Steam Act of 1970.
- Alters Section 205(f) of the Federal Oil and Gas Royalty Management Act of 1982.
Who is affected
- State governments
- Federal government (Bureau of Land Management)
- Oil and gas industry
- Coal industry
- Geothermal energy industry
Notable changes
- Redesignates and modifies subsections within the Mineral Leasing Act.
- Replaces references to the 1920 Act with references to the Mineral Leasing Act.
- Updates references to sections within the Geothermal Steam Act and Federal Oil and Gas Royalty Management Act.
Bill text
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