[Congressional Record Volume 163, Number 37 (Thursday, March 2, 2017)]
[Senate]
[Page S1582]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

      By Mr. DAINES (for himself, Mr. Hatch, Mr. Kennedy, and Mr. 
        Barrasso):
  S.J. Res. 29. A joint resolution providing for congressional 
disapproval under chapter 8 of title 5, United States Code, of the 
final rule of the Office of Natural Resources Revenue of the Department 
of the Interior relating to consolidated Federal oil and gas and 
Federal and Indian coal valuation reform; to the Committee on Energy 
and Natural Resources.
  Mr. DAINES. Mr. President, as a fifth-generation Montanan and having 
spent 18 years in the private sector, I know how important it is to 
receive your fair share in any deal. However, the Office of Natural 
Resources Revenue Consolidated Federal oil and gas and Federal and 
Indian coal valuation reform rule does not protect the taxpayers' fair 
share of mineral royalties as finalized. The rule as finalized creates 
high uncertainty and, at worst, could cause many energy operators 
across the country to shut-in what is already very capital-intensive 
production, placing our Nation's energy and infrastructure security and 
good-paying energy jobs at risk. The rule could leave the taxpayer at a 
net loss in royalties. This resolution would halt implementation of the 
final ONRR valuation rule, a rule whose implementation is already 
postponed due to litigation, allowing the States and producers to work 
with the Department of the Interior to reform valuation in a common-
sense way.
  I thank Senators Hatch and Kennedy for joining me on introducing this 
resolution, and I ask my colleagues to join me in supporting this 
legislation.
  Mr. President, I ask unanimous consent that the text of the joint 
resolution be printed in the Record.
  There being no objection, the text of the joint resolution was 
ordered to be printed in the Record, as follows:

                              S.J. Res. 29

       Resolved by the Senate and House of Representatives of the 
     United States of America in Congress assembled, That Congress 
     disapproves the rule submitted by the Office of Natural 
     Resources Revenue of the Department of the Interior relating 
     to ``Consolidated Federal Oil & Gas and Federal & Indian Coal 
     Valuation Reform'' (published at 81 Fed. Reg. 43337 (July 1, 
     2016)), and such rule shall have no force or effect.

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