HR 1352

112th CONGRESS
1st Session

H. R. 1352

To prohibit the Secretary of the Interior from issuing any new lease that authorizes the production of oil or natural gas under the Outer Continental Shelf Lands Act to a person that does not renegotiate existing leases held by the person to incorporate limitations on royalty relief based on market price that are equal to or less than price thresholds that apply to other leases under that Act, and for other purposes.

IN THE HOUSE OF REPRESENTATIVES

April 4, 2011

Mr. MARKEY (for himself, Mr. HOLT, Mr. HINCHEY, Mr. GEORGE MILLER of California, Mrs. CAPPS, and Mr. MORAN) introduced the following bill; which was referred to the Committee on Natural Resources


A BILL

To prohibit the Secretary of the Interior from issuing any new lease that authorizes the production of oil or natural gas under the Outer Continental Shelf Lands Act to a person that does not renegotiate existing leases held by the person to incorporate limitations on royalty relief based on market price that are equal to or less than price thresholds that apply to other leases under that Act, and for other purposes.

SECTION 1. SHORT TITLE.

SEC. 2. ELIGIBILITY FOR NEW LEASES AND THE TRANSFER OF LEASES.

SEC. 3. PRICE THRESHOLDS FOR ROYALTY SUSPENSION PROVISIONS.

END