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SECTION 1. SHORT TITLE.

This Act may be cited as the ''Coal Royalty Fairness Act of 2015''.

SEC. 2. VALUATION OF COAL ROYALTIES.

Section 7 of the Mineral Leasing Act (30 U.S.C. 207) is amended--
(1) in subsection (a), by striking the fourth sentence; and
(2) by adding at the end the following:
''(d) Royalties.--
''(1) Definitions.--In this subsection:
''(A) Assessment value.--
''(i) In general.--The term 'assessment
value', with respect to Federal coal, means--
''(I) the price of Federal coal
paid by the purchaser at final sale; or
''(II) a price imputed by the
Secretary based on the coal price
index.
''(ii) Exclusions.--The term 'assessment
value' does not include, as determined and to
the extent determined to be appropriate by the
Secretary--
''(I) transportation costs, as
determined in accordance with the
transportation cost index; or
''(II) the cost of coal washing.
''(B) Broker.--The term 'broker' means a person
that resells Federal coal.
''(C) Coal price index.--The term 'coal price
index' means the schedule of average market prices of
Federal coal (in United States dollars) paid by the
purchaser at final sale, based on the quality and type
of the Federal coal, as determined by the Secretary, in
consultation with the Administrator of the Energy
Information Administration.
''(D) Purchaser.--
''(i) In general.--The term 'purchaser'
means a person that--
''(I) purchases or contracts to
purchase Federal coal--
''(aa) directly from a coal
mine operator; or
''(bb) indirectly from a
broker; and
''(II) uses that Federal coal in
any industrial or energy conversion
process.
''(ii) Exclusion.--The term 'purchaser'
does not include--
''(I) a coal broker; or
''(II) any other third-party
intermediary.
''(E) Quality.--The term 'quality', with respect to
Federal coal, means the quality of Federal coal
measured in British thermal units, sulfur, moisture,
and other criteria determined to be appropriate by the
Secretary.
''(F) Secretary.--The term 'Secretary' means the
Secretary of the Interior.
''(G) Transportation cost index.--The term
'transportation cost index' means the transportation
cost index established under paragraph (7).
''(H) Type.--The term 'type', with respect to
Federal coal, means a general category of coal, such as
metallurgical coal or steam coal, as determined by the
Secretary.
''(2) Payment rate.--
''(A) In general.--Except as provided in
subparagraph (B), a lease shall require payment of a
royalty in such amount as the Secretary shall determine
of not less than 12.5 percent of the assessment value
of Federal coal, as determined under paragraph (3).
''(B) Exception.--In lieu of the royalty payment
rate described in subparagraph (A), the Secretary may
establish such lower royalty payment rate as the
Secretary determines to be appropriate in the case of
Federal coal recovered by an underground mining
operation.
''(3) Valuation for royalties.--Not later than 1 year after
the date of enactment of this subsection, the Secretary shall
establish, as the valuation for Federal coal royalties, the
assessment value of Federal coal.
''(4) Administration.--
''(A) Reporting.--The purchaser of Federal coal
shall annually submit to the Secretary a report
containing such information as the Secretary determines
to be necessary to carry out this subsection.
''(B) Audits.--To carry out this subsection, the
Secretary may examine the records of any person engaged
in the purchase, sale, transportation, or marketing of
Federal coal.
''(5) Coal price index.--
''(A) In general.--The Secretary shall compile the
assessment values of coal by type and quality of coal
in a coal price index.
''(B) Publication.--Not less frequently than
quarterly, the Secretary shall publish the coal price
index, along with a methodological description,
including--
''(i) the method of calculation;
''(ii) the data used to calculate the coal
price index in an aggregate manner that does
not reveal proprietary information; and
''(iii) any other information the Secretary
considers appropriate to ensure transparency.
''(C) Other information.--If a person believes that
the coal price index significantly deviates from the
assessment value of the coal produced by the person,
the person may petition the Secretary to use
information supplied by the person in lieu of the coal
price index, including all information the Secretary
requires to accurately determine the assessment value
and audit the records of the person.
''(6) Exports.--
''(A) In general.--In assessing royalties for the
export of Federal coal under this subsection, the
Secretary may obtain from the exporter of the Federal
coal such information as the Secretary determines to be
necessary to carry out this subsection.
''(B) Assessment value of exported coal.--Subject
to subparagraph (C), in determining the assessment
value of Federal coal that is exported, the Secretary
shall--
''(i) use the price of coal free on board
the marine vessel used to transport the coal
overseas at the port of origin; and
''(ii) limit any deductions that apply to
the assessment value of the Federal coal to
costs incurred prior to being free onboard the
vessel.
''(C) Uncertain export price.--If the Secretary
cannot determine the value of exported coal in
accordance with subparagraph (B), the Secretary shall--
''(i) assess royalties under this
subsection based on the coal price index for
coal of a similar quantity and type; and
''(ii) limit any deductions that apply to
the assessment value of the Federal coal to
costs incurred within the contiguous United
States.
''(7) Transportation cost index.--
''(A) In general.--Subject to the other provisions
of this paragraph, the Secretary, in consultation with
the Secretary of Energy and the Secretary of
Transportation (in consultation with the Surface
Transportation Board and others), shall--
''(i) compile in a transportation cost
index the average costs of transporting coal;
and
''(ii) determine the amount of any
transportation cost deduction under this
subsection, on the basis of the transportation
cost index.
''(B) Unit of measurement.--The transportation cost
index shall be based on the average transportation
costs per ton of coal or another unit of measurement
determined by the Secretary.
''(C) Differences in transportation costs.--The
transportation cost index shall take into consideration
differences in the costs of transportation, as
determined by the Secretary, based on--
''(i) the mode of transportation;
''(ii) the geographic region, and
''(iii) other characteristics of the
transportation industry that the Secretary
considers to be necessary to calculate a fair,
transparent, and accurate transportation cost
index.
''(D) Exclusions.--The transportation cost index
shall not include costs associated with, as determined
by the Secretary--
''(i) take-or-pay contract penalties;
''(ii) liquidated damages;
''(iii) the speculative aspects of
transportation transactions; or
''(iv) any other costs that are not
directly associated with moving Federal coal
from 1 location to another location.
''(E) Publication.--Not less than twice annually,
the Secretary shall publish the transportation cost
index, along with a methodological description,
including--
''(i) the method of calculation;
''(ii) the data used to calculate the
transportation cost index, in an aggregate
manner that does not reveal proprietary
information; and
''(iii) any other information the Secretary
considers to be appropriate to ensure
transparency.
''(F) Other information.--If a person believes that
the transportation cost index significantly deviates
from the transportation costs of the person, the person
may petition the Secretary to use information supplied
by the person (other than costs descried in
subparagraph (D)) in lieu of the transportation cost
index, including all information the Secretary requires
to accurately determine cost and audit the records of
the person.
''(8) Reviews.--
''(A) In general.--To ensure a transparent, fair,
and efficient administration of the Federal coal
program, and to ensure that citizens of the United
States receive a fair return on Federal coal, not later
than 3 years after the date of enactment of this
subsection and every 3 years thereafter during the 15-
year period beginning on that date of enactment, the
Comptroller General of the United States shall submit
to Congress a report that describes a review of the
Federal coal program, including the administration of
this subsection.
''(B) Consultation.--In conducting a review under
this paragraph, the Comptroller General shall consult
with--
''(i) the Secretary;
''(ii) the Director of the Bureau of Land
Management;
''(iii) the Secretary of Transportation;
and
''(iv) the Secretary of Energy.
''(C) Inclusions.--A review under this paragraph
shall include a review of--
''(i) the total volume of coal production
from Federal land;
''(ii) the total volume of remaining coal
reserves on Federal land;
''(iii) the total revenues generated from
the Federal coal program, itemized by type of
revenue, including lease bonus payments and
royalties;
''(iv) market prices for coal;
''(v) market prices for transportation
costs and any other deductible costs; and
''(vi) the appropriateness of royalty
rates.
''(D) Format.--The Comptroller General shall report
information in a review under this paragraph--
''(i) in the aggregate for the United
States; and
''(ii) categorized by State for at least
the top 10 Federal coal-producing States, as
determined by the Comptroller General.
''(9) Application.--This subsection--
''(A) applies to coal mined from Federal land; and
''(B) does not apply to coal mined from tribal
land.''.
Coal Royalty Fairness Act of 2015 Amends the Mineral Leasing Act to require the coal lease royalty to be at least 12.5% of the assessment value of federal coal (currently, 12.5% of the value of coal as defined by regulation), which value shall be established by the Secretary of the Interior within one year after enactment of this Act. Defines "assessment value" as: (1) the price of federal coal paid by the purchaser at final sale, or (2) a price imputed by the Secretary based on the coal price index. Defines "coal price index" as the schedule of average market prices of federal coal paid by the purchaser at final sale, based on the quality and type of the federal coal, as determined by the Secretary. Directs the purchaser of federal coal to annually submit a report containing such information as the Secretary determines necessary to carry out this Act. Authorizes the Secretary to examine the records of any person engaged in the purchase, sale, transportation, or marketing of federal coal. Directs the Secretary to: (1) compile the assessment values of coal by type and quality of coal in the coal price index, and (2) publish such index at least quarterly. Sets forth provisions regarding: (1) determining and assessing royalties for the export of federal coal, (2) compiling in a transportation cost index the average costs of transporting coal, and (3) determining the amount of any applicable transportation cost deduction on the basis of such index. Requires the Secretary to publish such index at least twice annually. Requires the Comptroller General to report to Congress every 3 years over a 15-year period on a review of the federal coal program.