3.0.0 3985 2023-01-12T17:52:03Z 2023-01-12T17:52:03Z Senate S S 2006-09-28 109 sseg00 Energy and Natural Resources Committee Senate Standing Referred to 2006-09-28T22:52:18Z 2006-09-29 Sponsor introductory remarks on measure. (CR S10604-10605) IntroReferral B00100 9 Library of Congress 2006-09-28 sseg00 Energy and Natural Resources Committee Senate Read twice and referred to the Committee on Energy and Natural Resources. IntroReferral 2006-09-28 Introduced in Senate IntroReferral 10000 9 Library of Congress L000550 Sen. Landrieu, Mary L. [D-LA] MARY LANDRIEU D LA N Energy Budget deficits Coastal zone Continental shelf Economics and Public Finance Emergency Management Energy prices Environmental Protection Gas in submerged lands Government Operations and Politics Government securities Government trust funds Infrastructure Infrastructure (Economics) Land transfers Louisiana Marine and coastal resources, fisheries Oil and gas leases Oil and gas royalties Open space lands Outdoor recreation Petroleum in submerged lands Public Lands and Natural Resources Restoration ecology Revenue sharing Sports and Recreation Storms Submarine oil well drilling Water Resources Development Water conservation Wetlands Energy 00 2006-09-28 Introduced in Senate 2006-11-02T15:22:22Z Outer Continental Shelf Royalty Reform and Enhancement Act of 2006 - Directs the Secretary of the Interior (Secretary) to place limitations based on market price on the royalty relief granted under any lease for the production of oil or natural gas entered into on or after enactment of this Act.

Declares that Congress reaffirms the authority of the Secretary to vary, based on the price of production from a lease, the suspension of royalties under any lease subject to specified requirements of the Outer Continental Shelf Deep Water Royalty Relief Act.

Instructs the Secretary to offer to enter into written agreements to amend the payment responsibilities under each lease that: (1) authorizes the production of oil or natural gas on the Outer Continental Shelf; (2) provides for relief from the payment of royalties; and (3) does not provide for suspension of royalty relief based on an increase in the price of oil or natural gas, respectively, above specified thresholds.

Authorizes the Secretary to increase royalty rates on leases for oil or natural gas production on the Outer Continental Shelf.

Requires the Secretary of the Treasury to deposit certain percentages of Outer Continental Shelf revenues for: (1) disbursement to Gulf producing states; (2) financial assistance to states for land and water conservation as well as outdoor recreation purposes; and (3) deficit reduction.

Requires the Secretary of the Interior to guarantee the repayment of 100% of the outstanding principal of a bond issued by the state of Louisiana for coastal wetland restoration projects and related storm protection infrastructure.

]]> Outer Continental Shelf Royalty Reform and Enhancement Act of 2006 Display Title Outer Continental Shelf Royalty Reform and Enhancement Act of 2006 Official Title as Introduced A bill to promote the recovery of oil and gas revenues on the Outer Continental Shelf, and for other purposes. Introduced in Senate IS Short Titles as Introduced Outer Continental Shelf Royalty Reform and Enhancement Act of 2006 Introduced in Senate 2006-09-28T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-109s3985is/xml/BILLS-109s3985is.xml 2006-09-29 Sponsor introductory remarks on measure. (CR S10604-10605) text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.