[Congressional Bills 108th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4984 Introduced in House (IH)]

  2d Session
                                H. R. 4984

 To provide that the royalty rate on the output from Federal lands of 
  potassium and potassium compounds from the mineral sylvite in the 5-
year period beginning on the date of the enactment of this Act shall be 
            reduced to 1.0 percent, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             July 22, 2004

  Mr. Pearce introduced the following bill; which was referred to the 
                         Committee on Resources

_______________________________________________________________________

                                 A BILL


 
 To provide that the royalty rate on the output from Federal lands of 
  potassium and potassium compounds from the mineral sylvite in the 5-
year period beginning on the date of the enactment of this Act shall be 
            reduced to 1.0 percent, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Potash Royalty Reduction Act of 
2004''.

SEC. 2. POTASSIUM AND POTASSIUM COMPOUNDS FROM SYLVITE.

    (a) Royalty Rate.--Notwithstanding section 102(a)(9) of the Federal 
Land Policy and Management Act of 1976 (43 U.S.C. 1701(a)(9)), section 
2 of the Act of February 7, 1927 (30 U.S.C. 282) and the term of any 
lease issued under such section 2, the royalty rate on the quantity or 
gross value of the output from Federal lands of potassium and potassium 
compounds from the mineral sylvite at the point of shipment to market 
in the 5-year period beginning on the date of the enactment of this Act 
shall be 1.0 percent.
    (b) Reclamation Fund.--Fifty percentum of any royalties paid 
pursuant to this Act during the 5-year period referred to in subsection 
(a), together with any interest earned from the date of payment, shall 
be paid by the Secretary of the Treasury to the payor of the royalties 
to be used solely for land reclamation purposes in accordance with a 
schedule to implement a reclamation plan for the lands for which the 
royalties are paid. No payment shall be made by the Secretary of the 
Treasury pursuant to this subsection until the Secretary of the 
Interior receives from the payor of the royalties, and approves, the 
reclamation plan and schedule, and submits the approved schedule to the 
Secretary of the Treasury. The share of royalties held by the Secretary 
of the Treasury pursuant to this subsection, and interest earned 
thereon, shall be available until paid pursuant to this subsection, 
without further appropriation; shall not be considered as money 
received under section 35 of the Mineral Leasing Act (30 U.S.C. 191) 
for the purpose of revenue allocation; and shall not be reduced by any 
administrative or other costs incurred by the United States.
    (c) Study and Report.--After the end of the 4-year period beginning 
on the date of the enactment of this Act, and before the end of the 5-
year period beginning on that date, the Secretary of the Interior shall 
report to the Congress on the effects of the royalty reduction under 
this Act, including a recommendation on whether the reduced royalty 
rate for potassium from sylvite should apply after the end of the 5-
year period.
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