S. 1602

A bill to amend title 10, United States Code, to ensure that excess oil and gas lease revenues are distributed in accordance with the Mineral Leasing Act, and for other purposes.

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II

111th CONGRESS

1st Session

S. 1602

IN THE SENATE OF THE UNITED STATES

August 6, 2009

Mr. Udall of Colorado (for himself and Mr. Bennet) introduced the following bill; which was read twice and referred to the Committee on Armed Services

A BILL

To amend title 10, United States Code, to ensure that excess oil and gas lease revenues are distributed in accordance with the Mineral Leasing Act, and for other purposes.

1.

Treatment of Oil Shale Reserve receipts

Section 7439(f) of title 10, United States Code, is amended by adding at the end the following:

(3)
(A)

The moneys deposited in the Treasury under paragraph (1) that exceed the amounts described in subparagraphs (A) and (B) of paragraph (2) shall be transferred by the Secretary of the Treasury in accordance with section 35 of the Mineral Leasing Act (30 U.S.C. 191) to the State of Colorado for use in accordance with subparagraph (B).

(B)
(i)

Of the amounts to be distributed under subparagraph (A), the Secretary of the Treasury shall transfer—

(I)

40 percent to Garfield County, Colorado;

(II)

40 percent to Rio Blanco County, Colorado;

(III)

10 percent to Moffat County, Colorado; and

(IV)

10 percent to Mesa County, Colorado.

(ii)

The amounts provided to the counties under clause (i) shall be used by the counties, or any cities or political subdivisions within the counties to which the funds are transferred by the counties, to mitigate the effects of oil and gas development activities within the affected counties, cities, or political subdivisions.

(iii)

Amounts provided to the counties under clause (i) shall not be considered for the purpose of calculating payments for the counties under chapter 69 of title 31, United States Code.

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