To amend the Mineral Leasing Act to provide for the payment of bonus payments of certain coal leases issued under that Act.
Coal Mining: New Payment Plan for Federal Leases
Legislative Progress
Key Points
- Rep. Hageman introduced a bill to change how coal companies pay the federal government for the right to mine on public land. These costs, known as "bonus payments," are the prices companies bid to win a lease.
- Under this plan, companies would pay their bid amount in 10 equal parts over 10 years. The very first payment would be due at the same time the company submits its bid for the land.
- This policy aims to help coal businesses by letting them keep more cash on hand while they get their mining operations started. It moves away from requiring large, immediate payments that can be hard for companies to afford upfront.
- This change mostly affects mining companies operating in states with lots of federal land, such as Wyoming and Montana. By making the payments more manageable, the bill could lead to more companies bidding on federal coal projects.
Impact Analysis
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Milestones
Subcommittee Hearings Held
Referred to the Subcommittee on Energy and Mineral Resources.
Sent to a congressional committee for expert review. The committee decides whether this bill moves forward.
Referred to the House Committee on Natural Resources.
Introduced in House
The bill was officially filed and given a number. It now enters the legislative queue.
Votes
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News
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Source Information
Document Type
Congressional Bill
Official Title
To amend the Mineral Leasing Act to provide for the payment of bonus payments of certain coal leases issued under that Act.
Data Sources
Sponsor
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