summary
Introduced
In Committee
Crossed Over
Passed
Dead
Introduced Session
113th Congress
Bill Summary
BLM Live Internet Auctions Act - Amends the Mineral Leasing Act to authorize the Secretary of the Interior to conduct onshore oil and gas lease sales through Internet-based live bidding methods. Requires each individual Internet-based lease sale to conclude within seven days. Directs the Secretary to analyze the first 10 such lease sales, including estimates of: (1) increases or decreases in such lease sales, compared to sales conducted by oral bidding; and (2) the total cost or savings to the Department of the Interior as a result of such sales, compared to sales conducted by oral bidding. Requires the report to evaluate the demonstrated or expected effectiveness of different structures for lease sales which may provide an opportunity to better maximize bidder participation, ensure the highest return to the federal taxpayers, minimize opportunities for fraud or collusion, and ensure the security and integrity of the leasing process.
AI Summary
This bill, titled the BLM Live Internet Auctions Act, amends the Mineral Leasing Act to allow the Secretary of the Interior to conduct onshore oil and gas lease sales using live internet bidding methods, with each online sale concluding within seven days. The bill also mandates that after the first ten such internet sales, the Secretary must submit a report to Congress analyzing these sales compared to traditional oral bidding methods, detailing changes in the number and amounts of bids, as well as the overall cost or savings to the Department of the Interior. This report will also evaluate how different online sale structures can improve bidder participation, maximize returns for federal taxpayers, reduce opportunities for fraud or collusion, and ensure the security and integrity of the leasing process.
Committee Categories
Agriculture and Natural Resources
Sponsors (5)
Last Action
Placed on the Union Calendar, Calendar No. 148. (on 09/10/2013)
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