Bill
Bill > S2962
US S2962
US S2962COMPETES Act Competitive Onshore Mineral Policy via Eliminating Taxpayer-Enabled Speculation Act
summary
Introduced
10/07/2021
10/07/2021
In Committee
10/07/2021
10/07/2021
Crossed Over
Passed
Dead
01/03/2023
01/03/2023
Introduced Session
117th Congress
Bill Summary
A BILL To amend the Mineral Leasing Act to ensure market com- petition in onshore oil and gas leasing, and for other purposes.
AI Summary
This bill, the COMPETES Act (Competitive Onshore Mineral Policy via Eliminating Taxpayer-Enabled Speculation Act), amends the Mineral Leasing Act to ensure that all onshore oil and gas leases are issued through a competitive bidding process. It eliminates the ability for the Secretary of the Interior to issue noncompetitive leases, and specifies the terms and conditions for competitive leasing, including a 10-year primary lease term and extensions based on continued oil or gas production. The bill also makes conforming amendments to the Mineral Leasing Act to align with the competitive leasing requirements.
Committee Categories
Agriculture and Natural Resources
Sponsors (3)
Last Action
Read twice and referred to the Committee on Energy and Natural Resources. (on 10/07/2021)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/117th-congress/senate-bill/2962/all-info |
| BillText | https://www.congress.gov/117/bills/s2962/BILLS-117s2962is.pdf |
| Bill | https://www.congress.gov/117/bills/s2962/BILLS-117s2962is.pdf.pdf |
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