S.Amdt. 2987

SA 2987. Mr. BENNET (for himself and Mr. Gardner) submitted an
amendment intended to be proposed to amendment SA 2953 proposed by Ms.
Murkowski to the bill S. 2012, to provide for the modernization of the
energy policy of the United States, and for other purposes; which was
ordered to lie on the table; as follows:

At the end of subtitle B of title III, add the following:

SEC. 3105. TREATMENT OF OIL SHALE RESERVE RECEIPTS.

Section 7439 of title 10, United State States Code, is
amended--
(1) in subsection (f)--
(A) by striking paragraph (1) and inserting the following:
``(1) Disposition.--
``(A) In general.--Notwithstanding section 35 of the
Mineral Leasing Act (30 U.S.C. 191), the amounts received
during the period specified in paragraph (2) from a lease
under this section (including moneys in the form of sales,
bonuses, royalties (including interest charges collected
under the Federal Oil and Gas Royalty Management Act of 1982
(30 U.S.C. 1701 et seq.)), and rentals) that do not exceed
the sum of the amounts specified in subparagraphs (A) and (B)
of paragraph (2)--
``(i) shall be deposited in the Treasury; and
``(ii) shall not be subject to distribution to the States
pursuant to section 35(a) of the Mineral Leasing Act (30
U.S.C. 191(a)).
``(B) Mineral leasing act.--Any amounts received during the
period specified in paragraph (2) from a lease under this
section (including moneys in the form of sales, bonuses,
royalties (including interest charges collected under the
Federal Oil and Gas Royalty Management Act of 1982 (30 U.S.C.
1701 et seq.)), and rentals) that exceed the sum of the
amounts specified in subparagraphs (A) and (B) of paragraph
(2)--
``(i) shall be deposited in the Treasury; and
``(ii) shall be subject to distribution to the States
pursuant to section 35(a) of the Mineral Leasing Act (30
U.S.C. 191(a)).
``(C) No impact on payments in lieu of taxes.--Nothing in
this paragraph impacts or reduces any payment authorized
under section 6903 of title 31, United States Code.''; and
(B) in paragraph (2)--
(i) by striking ``(2) The period'' and inserting the
following:
``(2) Period.--The period''; and
(ii) in the matter preceding subparagraph (A), by striking
``paragraph (1)'' and inserting ``paragraph (1)(A)''; and
(2) in subsection (g)--
(A) in paragraph (1), in the matter preceding subparagraph
(A), by striking ``subsection (f)(1)'' and inserting
``subsection (f)(1)(A)''; and
(B) in paragraph (2), in the first sentence, by striking
``subsection (f)(1)'' and inserting ``subsection (f)(1)(A)''.
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