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HR678119th CongressWALLET

Expression of Interest Sensibility Act

Sponsored By: Representative Hageman, Harriet M. [R-WY-At Large]

Introduced

Summary

Creates fees for expressions of interest in oil and gas leasing. The bill would amend the Mineral Leasing Act to set a statutory fee system for expressions of interest, tie fees to sale outcomes, and require EOIs to remain active at least five years.

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  • EOI filers: If land covered by an expression of interest is offered at a lease sale and receives no bids the Secretary would assess the EOI fee at the sale against the person who submitted the first expression of interest.
  • Successful bidders: When a parcel covered by an expression of interest receives a winning bid the Secretary would assess the EOI fee against the successful bidder at the lease sale.
  • Leasing rules and timing: At lease issuance the remainder of any bonus bid and the EOI fee would be included in issuance calculations. The Secretary would establish procedures to administer the reorganized EOI provisions and a five year minimum active term would apply to EOIs.

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Bill Overview

Analyzed Economic Effects

2 provisions identified: 1 benefits, 1 costs, 0 mixed.

Five-year window and rules for oil and gas interest filings

People and companies would be able to submit interest filings under rules set by the Secretary. An interest filing would stay active for at least five years. It would stop being active if the land is offered at a lease sale. These are process and timing changes; they do not set fee amounts.

New fees on oil and gas interest filings

This bill would add a fee tied to interest filings for oil and gas leases. If the land gets a winning bid, the winner would pay the fee. If the land is offered and gets no bids, the first person who filed the interest would pay the fee at the sale. When a lease is issued, any remaining bonus bid and this fee would be counted in the issuance.

Sponsors & CoSponsors

Sponsor

Hageman, Harriet M. [R-WY-At Large]

WY • R

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

No roll call votes available for this bill.

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