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Payments to states for lost oil and gas leasing revenue

This bill aims to provide financial compensation to states that lose revenue from federal land oil and gas leasing when such activity is halted by federal authorities. This means states could receive money that would normally come from lease rentals, bonuses, royalties, and state taxes related to extraction.
Key points
States will receive compensation if federal oil and gas leasing on their land is stopped or limited by the President or other officials.
Payments will be calculated based on average revenues from the past 10 years, including lease rentals, bonuses, royalties, and state taxes.
Compensation amounts will be adjusted annually for inflation to reflect changes in the cost of living.
Funds for compensation will come from federal mineral royalties.
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Additional Information
Print number: 117_HR_6086
Sponsor: Rep. Cheney, Liz [R-WY-At Large]
Process start date: 2021-11-30