[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 7377 Received in Senate (RDS)]

<DOC>
118th CONGRESS
  2d Session
                                H. R. 7377


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             July 23, 2024

                                Received

_______________________________________________________________________

                                 AN ACT


 
  To amend the Federal Oil and Gas Royalty Management Act of 1982 to 
 improve the management of royalties from oil and gas leases, 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 ``Royalty Resiliency Act''.

SEC. 2. DETERMINATION OF ALLOCATIONS OF PRODUCTION FOR UNITS AND 
              COMMUNITIZATION AGREEMENTS.

    Section 111(j) of the Federal Oil and Gas Royalty Management Act of 
1982 (30 U.S.C. 1721(j)), as amended by the Federal Oil and Gas Royalty 
Simplification and Fairness Act of 1996 (Public Law 104-185), is 
amended to read as follows:
    ``(j) The Secretary shall issue all determinations of allocations 
of production for units and communitization agreements within 120 days 
of a request for determination. Until the Secretary issues the 
determination, the lessee or its designee of a lease in a unit or 
communitization agreement shall report and pay royalties on oil and gas 
production for each production month in accordance with the terms of 
the proposed allocation of production for the unit or communitization 
agreement. After the Secretary issues the determination, the lessee or 
its designee shall, as necessary, correct such reports and the amount 
of royalties paid on oil and gas production under the unit or 
communitization agreement by not later than the end of the third month 
following the month in which the lessee or its designee receives the 
determination from the Secretary. Subject to the full and timely 
monthly payment of royalties to all parties in accordance with the 
terms of the proposed allocation of production for the unit or 
communitization agreement, the Secretary shall waive interest due on 
obligations subject to the determination until the end of the third 
month following the month in which the lessee or its designee receives 
the determination from the Secretary. This subsection shall not apply 
to unit or communization agreements containing Indian lands.''.

            Passed the House of Representatives July 22, 2024.

            Attest:

                                             KEVIN F. MCCUMBER,

                                                                 Clerk.