Restoring State Mineral Revenues Act
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This bill would increase state payments for federal mineral revenues by eliminating the 2% administrative fee currently deducted.
What it does
This bill would increase the payments that states receive from the development of natural resources on federal lands, including oil, gas, coal, and geothermal steam. It proposes to eliminate the 2% administrative fee currently deducted by the Bureau of Land Management from a state's share of mineral revenues generated within its borders.
Who is affected
This bill affects state governments that receive revenue payments from the development of oil, gas, geothermal steam, coal, and other natural resources on onshore federal land. The Bureau of Land Management is also affected, as the bill eliminates the 2% administrative fee the agency currently deducts from these state payments.
Key provisions
- Increase in state mineral revenue payments. The bill increases the amount of revenue states receive from the development of oil, gas, geothermal steam, coal, and other natural resources on federal lands within their borders.
- Elimination of federal administrative fee. The legislation removes the 2% administrative fee currently deducted by the Bureau of Land Management from a state's share of mineral and natural resource revenues.
Fiscal impact
Not applicable: No CBO cost estimate available
Effective dates
Not applicable: Official Summary does not address effective dates
Relationship to existing law
The bill modifies the distribution of revenue generated from natural resource development on federal lands by eliminating a 2% administrative fee currently deducted by the Bureau of Land Management from state payments.
Stated purpose
The bill aims to increase the amount of revenue states receive from the development of natural resources on federal lands, such as oil, gas, and coal, by eliminating the 2% administrative fee currently deducted by the Bureau of Land Management.