S.Amdt. 1954
What it does: Adds TITLE III--DILIGENT DEVELOPMENT OF FEDERAL OIL AND GAS LEASES on page 22, between lines 3 and 4
Sen. Robert Menendez (D-NJ)What it changes
1 change to S. 2204
Adds TITLE III--DILIGENT DEVELOPMENT OF FEDERAL OIL AND GAS LEASES on page 22, between lines 3 and 4
Adds a titlePrinted pageInserted: TITLE III--DILIGENT DEVELOPMENT OF FEDERAL OIL AND GAS LEASES
Inserted: SEC. 301. SHORT TITLE.
Inserted: This title may be cited as the "Use It or Lose It Act of 2012".
Inserted: SEC. 302. DILIGENT DEVELOPMENT OF FEDERAL OIL AND GAS LEASES.
Inserted: (a) Clarification of Existing Law.--Each lease that authorizes the exploration for or production of oil or natural gas under a provision of law described in subsection (b) shall be diligently developed by the person holding the lease in order to ensure timely production from the lease.
Inserted: (b) Covered Provisions.--Subsection (a) shall apply to--
Inserted: (1) section 17 of the Mineral Leasing Act (30 U.S.C. 226); and
Inserted: (2) the Outer Continental Shelf Lands Act (43 U.S.C. 1331 et seq.).
Inserted: SEC. 303. NONPRODUCING LEASE FEE.
Inserted: (a) Onshore Oil and Gas Leases.--Section 17 of the Mineral Leasing Act (30 U.S.C. 226) is amended by adding at the end the following:
Inserted: "(q) Nonproducing Lease Fee.--In the case of any lease for oil or gas issued on or after the date of enactment of this subsection, as a condition of the lease, the Secretary shall require the lessee to pay an annual fee of $4 per acre on the acres covered by the lease if production is not occurring.".
Inserted: (b) Outer Continental Shelf Oil and Gas Leases.--Section 8 of the Outer Continental Shelf Lands Act (43 U.S.C. 1337(d)) is amended--
Show 13 more inserted paragraphsShow less
Inserted: (1) by striking "(d) No bid" and inserting the following:
Inserted: "(d) Due Diligence.--
Inserted: "(1) In general.--No bid"; and
Inserted: (2) by adding at the end the following:
Inserted: "(2) Nonproducing lease fee.--In the case of any lease for oil or gas issued on or after the date of enactment of this paragraph, as a condition of the lease, the Secretary shall require the lessee to pay an annual fee of $4 per acre on the acres covered by the lease if production is not occurring.".
Inserted: SEC. 304. REGULATIONS.
Inserted: In the case of leases covered by this title and the amendments made by this title, not later than 180 days after the date of enactment of this Act, the Secretary of the Interior shall issue regulations that--
Inserted: (1) set forth requirements and benchmarks for oil and gas development that will ensure that leaseholders--
Inserted: (A) diligently develop each lease; and
Inserted: (B) to the maximum extent practicable, produce oil and gas from each lease during the primary term of the lease;
Inserted: (2) require each leaseholder to submit to the Secretary a diligent development plan describing how the lessee will meet the benchmarks;
Inserted: (3) in establishing requirements under paragraphs (1) and (2), take into account the differences in development conditions and circumstances in the areas to be developed; and
Inserted: (4) implement the fee requirements established by the amendments made by section 303.
Original wording
On page 22, between lines 3 and 4, insert the following:
Read automatically from the Congressional Record. Check the original before relying on it.
As printed
SA 1954. Mr. MENENDEZ submitted an amendment intended to be proposed by him to the bill S. 2204, to eliminate unnecessary tax subsidies and promote renewable energy and energy conservation; which was ordered to lie on the table; as follows:
On page 22, between lines 3 and 4, insert the following:
TITLE III--DILIGENT DEVELOPMENT OF FEDERAL OIL AND GAS LEASES
SEC. 301. SHORT TITLE.
This title may be cited as the “Use It or Lose It Act of 2012”.
SEC. 302. DILIGENT DEVELOPMENT OF FEDERAL OIL AND GAS LEASES.
(a) Clarification of Existing Law.--Each lease that authorizes the exploration for or production of oil or natural gas under a provision of law described in subsection (b) shall be diligently developed by the person holding the lease in order to ensure timely production from the lease.
(b) Covered Provisions.--Subsection (a) shall apply to--
(1) section 17 of the Mineral Leasing Act (30 U.S.C. 226); and
(2) the Outer Continental Shelf Lands Act (43 U.S.C. 1331 et seq.).
SEC. 303. NONPRODUCING LEASE FEE.
(a) Onshore Oil and Gas Leases.--Section 17 of the Mineral Leasing Act (30 U.S.C. 226) is amended by adding at the end the following:
“(q) Nonproducing Lease Fee.--In the case of any lease for oil or gas issued on or after the date of enactment of this subsection, as a condition of the lease, the Secretary shall require the lessee to pay an annual fee of $4 per acre on the acres covered by the lease if production is not occurring.”.
(b) Outer Continental Shelf Oil and Gas Leases.--Section 8 of the Outer Continental Shelf Lands Act (43 U.S.C. 1337(d)) is amended--
(1) by striking “(d) No bid” and inserting the following:
“(d) Due Diligence.--
“(1) In general.--No bid”; and
(2) by adding at the end the following:
“(2) Nonproducing lease fee.--In the case of any lease for oil or gas issued on or after the date of enactment of this paragraph, as a condition of the lease, the Secretary shall require the lessee to pay an annual fee of $4 per acre on the acres covered by the lease if production is not occurring.”.
SEC. 304. REGULATIONS.
In the case of leases covered by this title and the amendments made by this title, not later than 180 days after the date of enactment of this Act, the Secretary of the Interior shall issue regulations that--
(1) set forth requirements and benchmarks for oil and gas development that will ensure that leaseholders--
(A) diligently develop each lease; and
(B) to the maximum extent practicable, produce oil and gas from each lease during the primary term of the lease;
(2) require each leaseholder to submit to the Secretary a diligent development plan describing how the lessee will meet the benchmarks;
(3) in establishing requirements under paragraphs (1) and (2), take into account the differences in development conditions and circumstances in the areas to be developed; and
(4) implement the fee requirements established by the amendments made by section 303.
Legislative Activity
Stay on top of the latest movement without scrolling through every action
Senate amendment submitted
March 27, 2012