Deficit Reduction Through Fair Oil Royalties Act

openUnited States· United States Congress· EN

Introduced

12 May 2015

Last action

9 June 2015 · Committee

Status

Committee on Energy and Natural Resources. Hearings held. Hearings printed: S.Hrg. 114-344.

Summary

Deficit Reduction Through Fair Oil Royalties Act This bill prohibits the Department of the Interior from issuing new oil or natural gas production leases in the Gulf of Mexico under the Outer Continental Shelf Lands Act unless they have been renegotiated to require royalty payments if the price of oil and natural gas is greater than or equal to specified price thresholds. Rentals or royalties received by the United States under covered leases must be deposited in the Treasury and used for federal budget deficit reduction or, if there is no federal budget deficit, federal debt reduction. Interior must agree to a lessee's request to amend a lease to incorporate price thresholds applicable to royalty suspension requirements that are equal to or less than certain statutory price thresholds if the lease was issued for any Central and Western Gulf of Mexico tract on or after January 1, 1996, through November 28, 2000.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

12 May 2015
Introduced
Read twice and referred to the Committee on Energy and Natural Resources.
Source: IntroReferral
12 May 2015
Introduced
Introduced in Senate
Source: IntroReferral
9 June 2015
Committee
Committee on Energy and Natural Resources. Hearings held. Hearings printed: S.Hrg. 114-344.
Source: Committee

Votes

No vote records are attached yet.

Versions

Introduced in Senate · 12 May 2015 · Download file

Documents

3 official files

Introduced in Senate (text)

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Introduced in Senate (text)
Introduced in Senate · EN · 12 May 2015
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Introduced in Senate (PDF)
Introduced in Senate · EN · 12 May 2015
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Introduced in Senate
summary · EN · 12 May 2015
Open at official source
Leesvertaling
Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.
Vertaal naar
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Related records

related to → A bill to repeal the medical device excise tax, and for other purposes.

Sources

PoliticalRepo is an index and interpretation layer, not the authoritative legal source.

Official source: https://www.congress.gov/bill/114th-congress/senate-bill/1310
Open data entity: https://api.congress.gov/v3/bill/114/s/1310
us · 114-s-1310 · source updated 24 March 2026