Section 1 Short title
This Act may be cited as the “Expression of Interest Sensibility Act”.
Expression of Interest Sensibility Act
A BILL
To amend the Mineral Leasing Act to improve the assessment of expression of interest fees, and for other purposes.
Sec. 2 Fee for expression of interest
Deadline To issue lease— Section 17(b)(1)(A) of the Mineral Leasing Act (30 U.S.C. 226(b)(1)(A)) is amended by striking “the remainder of the bonus bid, if any,” and inserting “, as applicable, the remainder of the bonus bid, the fee for the expression of interest under subsection (q)(2)(B),”.
in the heading, by striking “Fee for”;
by redesignating paragraph (2) as paragraph (3);
by amending paragraph (1) to read as follows:
“(1) Submission of expression of interest—A person may, in accordance with procedures established by the Secretary to carry out this subsection, submit an expression of interest in leasing land available for disposition under this section for exploration for, and development of, oil or gas.
“(2) Assessment of fees
“(A) No bid—If land covered by an expression of interest submitted under paragraph (1) is offered at a lease sale and no bid is received for such land, the Secretary shall assess at the time of the sale a fee for the expression of interest against the person that submitted the first expression of interest for the land.
“(B) Successful bid—If land covered by an expression of interest submitted under paragraph (1) receives a successful bid at a lease sale, the Secretary shall assess a fee for the expression of interest against the successful bidder.”
in paragraph (3), as so redesignated, by striking “paragraph (1)” and inserting “paragraph (2)”; and
by adding at the end the following:
“(4) Term—An expression of interest submitted under this section shall remain active for a term of not less than 5 years unless the land covered by the expression of interest is offered at a lease sale.”