The Penalties for Polluters Act increases financial penalties for violations of federal laws governing mineral and oil and gas leasing on public lands and waters. The bill raises maximum civil penalties under four major environmental statutes, with the Mineral Leasing Act's penalty increasing from $500,000 to $2.7 million, and similar increases across the Federal Oil and Gas Royalty Management Act, Outer Continental Shelf Lands Act, and Oil Pollution Act. The bill also mandates annual inflation adjustments to these penalty amounts so they keep pace with the Consumer Price Index. Additionally, the legislation creates a Penalty Revenue Reinvestment Fund that directs any penalty revenue exceeding the old legal limits, with 50 percent going to affected states, tribes, and local governments and 50 percent directed to federal enforcement agencies for continued compliance activities. The bill takes effect upon enactment and applies to violations occurring after that date.