3.0.0 1310 2023-01-11T13:31:09Z 2023-01-11T13:31:09Z Senate S 2015-05-12 114 sseg00 Energy and Natural Resources Committee Senate Standing Hearings by 2015-06-09T14:08:34Z Referred to 2015-05-12T21:42:27Z A bill to repeal the medical device excise tax, and for other purposes. 114 844 S 2015-03-24 Read twice and referred to the Committee on Finance. Related bill CRS 2015-06-09 sseg00 Energy and Natural Resources Committee Senate Committee on Energy and Natural Resources. Hearings held. Committee 2015-05-12 sseg00 Energy and Natural Resources Committee Senate Read twice and referred to the Committee on Energy and Natural Resources. IntroReferral 2015-05-12 Introduced in Senate IntroReferral 10000 9 Library of Congress M000133 Sen. Markey, Edward J. [D-MA] Edward Markey D MA J. N Energy Budget deficits and national debt Energy prices Energy revenues and royalties Gulf of Mexico Marine and coastal resources, fisheries Oil and gas Energy 00 2015-05-12 Introduced in Senate 2015-08-06T20:27:15Z Deficit Reduction Through Fair Oil Royalties Act

This bill prohibits the Department of the Interior from issuing new oil or natural gas production leases in the Gulf of Mexico under the Outer Continental Shelf Lands Act unless they have been renegotiated to require royalty payments if the price of oil and natural gas is greater than or equal to specified price thresholds.

Rentals or royalties received by the United States under covered leases must be deposited in the Treasury and used for federal budget deficit reduction or, if there is no federal budget deficit, federal debt reduction.

Interior must agree to a lessee's request to amend a lease to incorporate price thresholds applicable to royalty suspension requirements that are equal to or less than certain statutory price thresholds if the lease was issued for any Central and Western Gulf of Mexico tract on or after January 1, 1996, through November 28, 2000.

]]> Deficit Reduction Through Fair Oil Royalties Act Display Title Deficit Reduction Through Fair Oil Royalties Act Official Title as Introduced A bill to prohibit the Secretary of the Interior from issuing new oil or natural gas production leases in the Gulf of Mexico under the Outer Continental Shelf Lands Act to a person that does not renegotiate its existing leases in order to require royalty payments if oil and natural gas prices are greater than or equal to specified price thresholds, and for other purposes. Introduced in Senate IS Short Titles as Introduced Deficit Reduction Through Fair Oil Royalties Act Introduced in Senate 2015-05-12T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-114s1310is/xml/BILLS-114s1310is.xml 2015-06-09 Committee on Energy and Natural Resources. Hearings held. 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.