Royalty Relief for American Consumers Act of 2010

Summary

Royalty Relief for American Consumers Act of 2010 - Directs the Secretary of the Interior to agree to a request by a lessee to amend any lease issued for any Central and Western Gulf of Mexico tract between January 1, 1998, and January 1, 2000, to incorporate price thresholds applicable to royalty suspension provisions that are equal to or less than specified price thresholds described in the Outer Continental Shelf Lands Act (OCSLA). Requires: (1) an amended lease to impose the new or revised price thresholds effective October 1, 2010; and (2) existing lease provisions to prevail through September 30, 2010. Prohibits the Secretary from issuing a new lease to certain persons or entities with any direct or indirect interest in, or who derive any benefit from, a covered lease unless they renegotiate the lease to include such price thresholds or have paid or formally agreed to pay all conservation of resources fees established under this Act. Directs the Secretary to establish a conservation of resources fee for producing and nonproducing federal oil and gas leases in the Gulf of Mexico. Applies the same lease renegotiation and conservation of resources fee payment eligibility criteria to any lessee or other interested person who seeks to obtain by sale or transfer (including through a swap, spinoff, servicing, or other agreement) any covered lease, the economic benefit of any covered lease, or any other lease for the production of oil or natural gas in the Gulf of Mexico under OCSLA.

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Timeline

1. 26 January 2010

   Introduced

   Referred to the House Committee on Natural Resources.

   Source: IntroReferral

2. 26 January 2010

   Introduced

   Sponsor introductory remarks on measure. (CR E90-91)

   Source: IntroReferral

3. 26 January 2010

   Introduced

   Introduced in House

   Source: IntroReferral

4. 26 January 2010

   Introduced

   Introduced in House

   Source: IntroReferral

5. 29 January 2010

   Referred

   Referred to the Subcommittee on Energy and Mineral Resources.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in House · 26 January 2010 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 26 January 2010

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 26 January 2010

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 26 January 2010

  Open at official source

Sponsors

• Sen. Markey, Edward J. [D-MA] · D · Sponsor
• Sen. Van Hollen, Chris [D-MD] · D · Sponsor
• Rep. Capps, Lois [D-CA-24] · D · Cosponsor
• Rep. Frank, Barney [D-MA-4] · D · Cosponsor
• · hsii00 · Standing

Related records

• related to ← Royalty Relief for American Consumers Act of 2010