HB10831: Acquired Lands Revenue Modernization Act
- 1Introduced (current step)
- 2Passed One Chamber
- 3Passed Both Chambers
- 4Became Law
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Bill information
Summary
To amend the Mineral Leasing Act for Acquired Lands and the Mineral Leasing Act to increase the State share of oil and gas leasing revenue from acquired lands, and for other purposes.
Plain-language summary
This bill would change how oil and gas leasing money from certain federal lands is divided between the federal government and states. Specifically, it increases the share of revenue that states receive when oil and gas companies lease land that the federal government bought (called 'acquired lands'). The bill modifies two federal laws that currently govern how these leasing revenues are split. The bill was recently introduced in Congress and is currently in the early stage of the legislative process.
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HB10831: Acquired Lands Revenue Modernization Act