119th Congress · introduced in the House · Jan 16, 2025
Declaration of Energy Independence Act
Official title from Congress.gov
Latest action (Jan 16, 2025): Referred to the House Committee on Natural Resources.
View on Congress.govPolicy area: Energy
Congressional Research Service summary, version: Introduced in House (Jan 16, 2025)
Declaration of Energy Independence Act
This bill reduces certain royalty rates, minimum bids, rental rates, and fees for onshore oil and gas leases on federal lands and modifies related leasing procedures.
Specifically, the bill (1) decreases the royalty rate from 16 2/3% to 12 1/2% for developing oil and gas on federal lands, (2) lowers the minimum bid amount from $10.00 to $2.00 per acre for oil and gas leases on federal lands, and (3) decreases the rental rates from a maximum of $15.00 per acre to $1.50 per acre for the first five years and $2.00 per acre thereafter. The bill also eliminates the fee for expressing interest in a lease.
It also modifies leasing procedures to provide for noncompetitive leasing under certain circumstances.
In addition, the bill modifies the conditions for the reinstatement of leases that have been cancelled or terminated, including by reducing the applicable royalty and rental rates.
Includes amendment, cloture, and procedural votes. Each is labeled with its exact question; only a passage question is a vote to pass the bill.
No recorded roll calls on this bill in coverage.
Referred to the House Committee on Natural Resources.
Introduced in House
Introduced in House
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