HR 7377
Royalty Resiliency Act
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
The Royalty Resiliency Act changes how oil and gas royalties are paid to the Department of the Interior. Currently, the first company to drill on a jointly leased area must pay all royalties until the Interior Department determines how much each company is responsible for. This bill requires companies to pay royalties based on their proposed production share until the Interior Department makes a determination, and then they have three months to adjust their payments if needed. It also extends the timeframe for Interior to waive interest on overdue royalty payments.
Sponsors
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Primary sponsor
Cosponsors
Garret Graves
Harriet M. [R-WY-At Large] Hageman
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