§360 Authority to manage certain mineral leases

Summary

Federal departments, agencies, and instrumentalities that manage U.S. lands bought with one or more mineral leases must give the Secretary of the Interior the power to run those leases and collect any payments owed to the United States. Money from those leases must follow the same rules as money from other leases covered by section 355 of this title. If the land was acquired on or before October 24, 1992, the transfer must happen as quickly as possible after that date. If the land was acquired after October 24, 1992, the Secretary gets the authority when the land is acquired. An "existing mineral lease" means a lease already in place when the land was acquired. This does not change which agency manages surface use of the land.