This bill revises the royalty rates for leases on federal land to produce coal, oil, and gas. Specifically the bill caps the royalty rate for coal and establishes a royalty rate for oil and gas.
To amend the Mineral Leasing Act to adjust the royalty rates for leases 
  for coal mining and oil and gas extraction on Federal land, and for 
                            other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. ADJUSTMENTS TO ROYALTY RATES FROM MINERAL LEASING.

    (a) Coal Leasing Rates.--Section 7(a) of the Mineral Leasing Act 
(30 U.S.C. 207(a)) is amended--
            (1) by striking ``less than 12\1/2\ per centum'' and 
        inserting ``more than 12.5 percent''; and
            (2) by striking ``, except the Secretary may determine a 
        lesser amount in the case of coal recovered by underground 
        mining operations''.
    (b) Oil and Gas Leasing Rates.--Section 17(b)(1)(A) of the Mineral 
Leasing Act (30 U.S.C. 226(b)(1)(A)) is amended--
            (1) by striking ``not less than''; and
            (2) by inserting ``except in a case in which a different 
        rate is established pursuant to section 31'' after ``sold from 
        the lease''.
                                 <all>
To amend the Mineral Leasing Act to adjust the royalty rates for leases for coal mining and oil and gas extraction on Federal land, and for other purposes.
To amend the Mineral Leasing Act to adjust the royalty rates for leases for coal mining and oil and gas extraction on Federal land, and for other purposes.
Official Titles - House of Representatives
Official Title as Introduced
To amend the Mineral Leasing Act to adjust the royalty rates for leases for coal mining and oil and gas extraction on Federal land, and for other purposes.
Rep. Cheney, Liz