§360 Authority to Manage Certain Mineral Leases

Summary

Federal agencies that hold land the United States acquired that already has mineral leases must give the Secretary of the Interior the job of managing those leases and collecting the lease payments. For land acquired on or before October 24, 1992, the transfer must happen as soon as reasonably possible after that date; for land acquired after October 24, 1992, the Secretary gets that authority when the land is acquired. Money from those leases is handled under section 355 of this title. An "existing mineral lease" means any lease already in effect when the land was acquired, and this does not change any agency’s authority to manage the land’s surface.