Deep Seabed Mineral Resources Act

Summary

Deep Seabed Mineral Resources Act - Title I: Regulation of Exploration and Commercial Recovery by United States Citizens - Prohibits exploration and commercial recovery activities in the deep seabed by United States citizens except: (1) under a license or permit issued pursuant to this Act; (2) under an equivalent authorization issued by a reciprocating state; or (3) under international agreement. Authorizes the Secretary of the Interior to issue licenses for exploration and permits for commercial recovery in accordance with prescribed criteria. Stipulates that no permit issued under this Act shall authorize commercial recovery before January 1, 1980. Requires review of applicants by the Attorney General and the Federal Trade Commission for possible antitrust violations. Directs the Secretary to establish terms, conditions, and restrictions on licenses and permits issued under this Act. Authorizes modification of such terms where necessary to protect the marine environment. Establishes procedures for denial, proposed suspension and revocation of licenses or permits by the Secretary. Directs the Secretary, with the Secretary of Commerce (acting through the National Oceanic and Atmospheric Administration) to establish controls designed to minimize adverse environmental impact of developments authorized by this Act, and to prepare a programmatic environmental impact statement on exploration and commercial recovery. Stipulates that approval of any license or permit application shall be deemed to be a major Federal action for purposes of the National Environmental Policy Act of 1969. Directs the Secretary to establish minimum reasonable expenditure requirements for exploration activities, and to specify a maximum time interval within which commercial recovery must commence. Imposes recordkeeping and disclosure requirements on all licensees and permitees. Establishes procedures governing designation of foreign nations as reciprocating states by the President. Title II: Transition to International Agreement - Stipulates that provisions of this Act not inconsistent with any subsequent international agreement shall continue in full force. Authorizes compensation to licensees and permitees for losses resulting from implementation of any such international agreement. Establishes a Deep Seabed Mining Fund in the Treasury for the payment of such compensation, to consist of funds collected from annual premiums paid by licensees and permitees. Title III: Civil Penalties and Criminal Offenses - Authorizes the Secretary of the Interior to Assess civil penalties up to $50,000 for each violation of the provisions of this Act or of the terms of any license or permit issued pursuant to this Act. Imposes criminal penalties of up to $250,000 for willful and knowing violations. Title IV: Miscellaneous Provisions - Directs the Secretary of the Interior to submit an annual report to Congress on the administration of this Act. Authorizes the appropriation of such sums as may be necessary to carry out this Act.

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Documents

2 official files

• Reported to Senate with amendment(s)

  summary · EN · 11 September 1978

  Open at official source

• Introduced in Senate

  summary · EN · 5 August 1977

  Open at official source

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