Oil and Gas Leasing Inflation Adjustment Act

Summary

Oil and Gas Leasing Inflation Adjustment Act - Amends the Mineral Leasing Act to increase from $2 per acre to $4 per acre the national minimum acceptable bid for oil and gas leases. Increases from $2 per acre to $5 per acre the minimum acceptable bid for a tar sand lease. Increases the annual rental of a lease from $1.50 per acre to $3 per acre for the first through the fifth year of the lease. Increases the annual lease rental from $2 per acre to $4 per acre for each year after such fifth year. Directs the Secretary of the Interior to make a cost-of-living adjustment of such dollar amounts at least once every four years and to publish each one in the Federal Register.

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Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 13 January 2014

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• Introduced in House (PDF)

  Introduced in House · EN · 13 January 2014

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• Introduced in House

  summary · EN · 13 January 2014

  Open at official source

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