3.0.0 3687 2023-01-11T13:21:40Z 2023-01-11T13:21:40Z Senate S S 2010-08-02 111 sseg00 Energy and Natural Resources Committee Senate Standing Referred to 2010-08-02T20:33:13Z Royalty Relief for American Consumers Act of 2010 111 4521 HR 2010-01-29 Referred to the Subcommittee on Energy and Mineral Resources. Related bill CRS 2010-08-02 sseg00 Energy and Natural Resources Committee Senate Read twice and referred to the Committee on Energy and Natural Resources. IntroReferral 2010-08-02 Introduced in Senate IntroReferral 10000 9 Library of Congress N000032 Sen. Nelson, Bill [D-FL] CLARENCE NELSON D FL WILLIAM N Public Lands and Natural Resources Energy prices Energy revenues and royalties Gulf of Mexico Marine and coastal resources, fisheries Oil and gas Public Lands and Natural Resources 00 2010-08-02 Introduced in Senate 2010-10-20T14:15:19Z Royalty Relief for American Consumers Act of 2010 - Prohibits the Secretary of the Interior from issuing a new lease that authorizes the production of oil or natural gas under the Outer Continental Shelf Lands Act (OCSLA) to certain lessees or persons unless such lessee or person has renegotiated each covered lease to require the payment of royalties if the price of oil and natural gas is greater than or equal to specified OCSLA price thresholds.

Directs the Secretary to agree to a request by a lessee to amend any lease issued for any Central and Western Gulf of Mexico tract between January 1, 1996, and November 30, 2000, to incorporate price thresholds applicable to royalty suspension provisions that are equal to or less than specified OCSLA price thresholds. Requires: (1) an amended lease to impose the new or revised price thresholds effective October 1, 2010; and (2) existing lease provisions to prevail through September 30, 2010.

States that a lessee or any other person who has any interest in, or who derives a benefit from, a lease shall not be eligible to obtain by sale or other transfer any covered lease, the economic benefit of any covered lease, or any other lease for the production of oil or natural gas in the Gulf of Mexico under OCSLA unless the lessee or other person has: (1) renegotiated each covered lease to include price thresholds that are equal to or less than specified OCSLA price thresholds; or (2) entered into an agreement with the Secretary to modify the terms of all covered leases to include limitations on royalty relief based on market prices that are equal to or less than such price thresholds.

]]> Royalty Relief for American Consumers Act of 2010 Display Title Royalty Relief for American Consumers Act of 2010 Official Title as Introduced A bill to provide royalty relief, and for other purposes. Introduced in Senate IS Short Titles as Introduced Royalty Relief for American Consumers Act of 2010 Introduced in Senate 2010-08-02T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-111s3687is/xml/BILLS-111s3687is.xml 2010-08-02 Read twice and referred to the Committee on Energy and Natural Resources. 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.