S.Amdt. 3818

SA 3818. Mr. WYDEN submitted an amendment intended to be proposed by him to the bill H.R. 4939, making emergency supplemental appropriations for the fiscal year ending September 30, 2006, and for other purposes; which was ordered to lie on the table; as follows:

On page 253, between lines 19 and 20, insert the following:

RENEGOTIATION OF EXISTING OIL AND NATURAL GAS LEASES

Sec. 7032. (a) The Secretary of the Interior (referred to in this section as the “Secretary”) shall, to the maximum extent practicable, attempt to renegotiate each lease authorizing production of oil or natural gas on Federal land (including submerged land) issued by the Secretary before the date of enactment of this Act as the Secretary determines to be necessary to modify the terms of the lease to ensure that a suspension of a requirement to pay royalties under the lease is terminated.

(b) Unless a lessee renegotiates a lease described in subsection (a) and enters in an agreement with the Secretary to modify the terms of a lease in accordance with that subsection by the date that is 60 days after the date of enactment of this Act, the lessee shall not be eligible--

(1) to enter into a new lease that authorizes production of oil or natural gas on Federal land (including submerged land); or

(2) to obtain by sale or other transfer any lease described in subsection (a) that is issued before the end of the 60-day period.