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Improved Management of Oil and Gas Royalties

The new "Royalty Resiliency Act" aims to streamline the management of royalties from oil and gas extraction on federal lands. It sets clear deadlines for officials to determine production allocations, potentially speeding up processes and reducing uncertainty for extraction companies. For citizens, this means potentially more efficient management of public resources and budget revenues.
Key points
Officials now have 120 days to determine oil and gas production allocations after a request.
Extraction companies will pay royalties based on proposed allocations before officials make a final decision.
The act allows for interest waivers if payments are made on time, giving companies time to adjust after official determinations.
These changes do not apply to agreements involving Indian lands.
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Became Law
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Additional Information
Print number: 118_HR_7377
Sponsor: Rep. Hunt, Wesley [R-TX-38]
Process start date: 2024-02-15
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Royalty Resiliency Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_7377.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2024-02-15.

What are the main provisions?

Key points include:

  • Officials now have 120 days to determine oil and gas production allocations after a request.
  • Extraction companies will pay royalties based on proposed allocations before officials make a final decision.
  • The act allows for interest waivers if payments are made on time, giving companies time to adjust after official determinations.
  • These changes do not apply to agreements involving Indian lands.
What is the specific legal status?

The current status is Became Law.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Hunt, Wesley [R-TX-38].

What is the latest detailed status?

The latest detailed status is: Became Public Law No: 118-81.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-25.

CATEGORIES

Economy Environment