This bill modifies the Mineral Leasing Act to change how coal lease bonus payments are structured. Currently, companies bidding on federal coal leases must pay bonus payments upfront or under other arrangements. Under this legislation, bonus payments for coal leases could instead be spread out over ten equal annual installments, with the first payment due when the company submits its bid. This change would primarily affect coal mining companies leasing federal lands, reducing their immediate upfront costs when acquiring new coal extraction rights. The bill does not specify new funding amounts or include a detailed timeline beyond the ten-year payment structure for bonus payments.
Take Action
Your position
Add a comment
to comment on this bill.
Annotate the text
Highlight any passage on the Summary or Full Text tab to attach a note. Annotations appear on the Annotations tab.