United States Exploration on Idle Tracts Act

Bill: 114-s-1280
Sponsor: full_name: Sen. Markey, Edward J. [D-MA]
Introduced: 2015-05-11
Policy area: Public Lands and Natural Resources
Subjects: Administrative law and regulatory procedures

Department of the Interior

Energy revenues and royalties

Oil and gas

User charges and fees
Latest action: action_date: 2015-05-19
text: Committee on Energy and Natural Resources. Hearings held.

Summaries:
action_date: 2015-05-11
action_desc: Introduced in Senate
text: <p><b>United States Exploration on Idle Tracts Act or the USE IT Act</b></p> <p>This bill directs the Department of the Interior to issue regulations to establish a specified graduated annual production incentive fee with respect to federal onshore and offshore lands subject to a lease for production of oil or natural gas under which production is not occurring.</p> <p>Amounts received for the fee shall be reserved for expenditures on inspection, enforcement, and permitting relating to oil and gas.</p>

tv_txt: II 114th CONGRESS 1st Session S. 1280 IN THE SENATE OF THE UNITED STATES May 11, 2015 Mr. Markey introduced the following bill; which was read twice and referred to the Committee on Energy and Natural Resources A BILL To direct the Secretary of the Interior to establish an annual production incentive fee with respect to Federal onshore and offshore land that is subject to a lease for production of oil or natural gas under which production is not occurring, and for other purposes.

1. Short title This Act may be cited as the United States Exploration on Idle Tracts Act or the USE IT Act . 2. Production incentive fee (a) Establishment (1) In general Not later than 180 days after the date of enactment of this Act, the Secretary of the Interior (referred to in this section as the Secretary ) shall issue regulations to establish an annual production incentive fee with respect to Federal onshore and offshore land that is subject to a lease for production of oil or natural gas under which production is not occurring. (2) Application The annual production incentive fee described in paragraph (1) shall apply with respect to land that is subject to a lease described in paragraph (1) that is— (A) in effect on the date on which final regulations are issued pursuant to this subsection; or (B) executed after that date. (b) Amount For each acre of land from which oil or natural gas is produced for less than 90 days in a calendar year, the amount of the fee shall be— (1) in the case of onshore land— (A) for each of the first 3 years of the lease, $4 per acre (in 2015 dollars); (B) for the fourth year of the lease, $6 per acre (in 2015 dollars); and (C) for the fifth year of the lease and each year thereafter for which the lease is otherwise in effect, $8 per acre (in 2015 dollars); and (2) in the case of offshore land— (A) for each of the third, fourth, and fifth years of the lease, $4 per acre (in 2015 dollars); (B) for the sixth year of the lease, $6 per acre (in 2015 dollars); and (C) for the seventh year of the lease and each year thereafter for which the lease is otherwise in effect, $8 per acre (in 2015 dollars). (c) Assessment and collection The Secretary shall assess and collect the fee established under this section. (d) Deposit Amounts received by the Secretary for the fee under this section shall be reserved for the Secretary for expenditures on inspection, enforcement, and permitting relating to oil and gas. (e) Regulations The Secretary may issue regulations to prevent evasion of the fee under this section.