|
119th CONGRESS
2d Session |
To amend the Energy Policy Act of 2005 and certain mineral leasing laws to reform oil and gas royalty relief, and for other purposes.
Ms. Dexter (for herself, Ms. Bonamici, Mr. Huffman, Ms. Norton, Mr. Thanedar, Mr. Min, Mr. Tonko, Ms. Simon, Ms. Brownley, Mr. Krishnamoorthi, Ms. Randall, Ms. Ansari, Mr. Cohen, Ms. McCollum, Ms. Salinas, Mr. Mullin, Mrs. Grijalva, Mr. Vargas, Mr. Levin, and Mr. Liccardo) introduced the following bill; which was referred to the Committee on Natural Resources
To amend the Energy Policy Act of 2005 and certain mineral leasing laws to reform oil and gas royalty relief, and for other purposes.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
This Act may be cited as the “Taxpayer Relief from Big Oil Act”.
SEC. 2. Royalty relief reform.
(a) Gulf of mexico royalty relief.—
(1) REPEAL.—Section 344 of the Energy Policy Act of 2005 (42 U.S.C. 15904) is repealed.
(2) REGULATIONS.—Any regulations issued under section 344 of the Energy Policy Act of 2005 before the date of enactment of this section shall have no force or effect.
(1) PROVISIONS RELATING TO PLANNING AREAS OFFSHORE ALASKA.—Section 8(a)(3)(B) of the Outer Continental Shelf Lands Act (43 U.S.C. 1337(a)(3)(B)) is amended by striking “and in the Planning Areas offshore Alaska” after “West longitude”.
(2) PROVISIONS RELATING TO NAVAL PETROLEUM RESERVE IN ALASKA.—The Naval Petroleum Reserves Production Act of 1976 is amended—
(A) in section 104(a) (42 U.S.C. 6504(a)) by striking “to the extent consistent with the requirements of this Act for the exploration of the reserve”; and
(B) in section 107 (42 U.S.C. 6506a)—
(I) by striking “(1) In general.—”; and
(II) by striking paragraphs (2) through (6);
(ii) by striking subsection (k); and
(iii) by redesignating subsections (l) through (p) as subsections (k) through (o), respectively.
(c) Royalty relief report.—Not later than 90 days after the date of enactment of this Act, and annually thereafter, the Director of the Bureau of Land Management and the Director of the Bureau of Ocean Energy Management shall submit to the Committee on Natural Resources of the House of Representatives and the Committee on Energy and Natural Resources of the Senate a report detailing, with respect to the preceding year—
(1) the number of onshore and offshore oil and gas royalty relief applicants;
(2) the number of onshore and offshore oil and gas royalty relief applications approved or denied and any reasoning provided by the agency for approvals;
(3) the number of wells approved and denied for royalty relief;
(4) the number of wells approved for royalty relief that produced oil or gas during the period of 6 months beginning on the date on which an application for royalty relief for the well was made;
(5) the average amount of production from wells for which royalty relief was approved;
(6) the length of royalty relief periods;
(7) the new royalty rate for approved applications; and
(8) any estimates of the difference in revenue and production resulting from the approved royalty relief.
SEC. 3. Standardized oil and gas transportation allowance.
(a) In general.—Not later than one year after the date of enactment of this Act, the Secretary of the Interior, acting through the Office of Natural Resources Revenue, shall issue or revise regulations to establish standardized transportation allowances for the calculation of oil and gas royalties for—
(1) each Bureau of Land Management oil and gas administrative boundaries; and
(2) each Outer Continental Shelf planning area in which oil or gas is produced.
(b) Maximum transportation allowance.—Each standardized transportation allowance established by regulation under subsection (a) shall not exceed the lesser of—
(1) the amount that is equal to 30 percent of the total value of the oil and gas that is produced; and
(2) the amount that is equal to actual and reasonable transportation costs.