HR.3859 - Oil And Gas Leasing Inflation Adjustment Act

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1/13/2014--Introduced. Oil and Gas Leasing Inflation Adjustment Act - Amends the Mineral Leasing Act to increase from $2 per acre to $4 per acre the national minimum acceptable bid for oil and gas leases. Increases from $2 per acre to $5 per acre the minimum acceptable bid for a tar sand lease. Increases the annual rental of a lease from $1.50 per acre to $3 per acre for the first through the fifth year of the lease. Increases the annual lease rental from $2 per acre to $4 per acre for each year after such fifth year. Directs the Secretary of the Interior to make a cost-of-living adjustment of such dollar amounts at least once every four years and to publish each one in the Federal Register.

Referred To The Subcommittee On Energy And Mineral Resources.
January 15th 2014 @ 12:00 AM

Referred To The House Committee On Natural Resources.
January 13th 2014 @ 12:00 AM

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