§585.505. What are the rent and operating fee requirements for a limited lease?
30 C.F.R. § 585.505
The rent for a limited lease is $3 per acre per year, unless otherwise established in the Final Sale Notice and/or your lease instrument.
You must pay ONRR the initial 12 months' rent 45 days after you receive the lease copies from BOEM in accordance with the requirements provided in § 585.500(c)(3).
You must pay ONRR as provided in 30 CFR 1218.51 the rent due at the beginning of each subsequent 1-year period on the entire lease area for the duration of your operations period.
BOEM will not charge an operating fee for the authorized sale of power from a limited lease.
Notes, amendments, and revision history
Source
Source: 89 FR 42740, May 15, 2024, unless otherwise noted.
Authority
Authority: 43 U.S.C. 1337.
Source
Source: 88 FR 6430, Jan. 31, 2023, unless otherwise noted.