A bill 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
This bill is currently in the early stages of the legislative process. It has been sent to the Senate Committee on Energy and Natural Resources for review. No further actions are scheduled at this time.
Legislative Progress
While this bill helps the coal industry, it lacks support from the opposing party and faces a difficult path in a divided Congress.
Key Points
- This bill changes how companies pay the government for the right to mine coal on federal land. Currently, these bonus payments are often paid in a few large chunks. This plan would let companies spread the cost over 10 years.
- The first payment would be due right when the company makes its bid for the lease. The rest of the money would be paid in equal amounts every year for the next nine years.
- This change helps coal companies manage their money better. By breaking up a massive upfront cost into smaller yearly payments, it might be easier for companies to afford new mining projects.
- The bill was introduced by senators from major coal producing states like Wyoming and Utah. It aims to support the coal industry by making federal leases more affordable in the short term.
Impact Analysis
Govbase has not yet run an impact analysis on this legislation.
Milestones
Read twice and referred to the Committee on Energy and Natural Resources. (text: CR S2083)
Sent to a congressional committee for expert review. The committee decides whether this bill moves forward.
Introduced in Senate
The bill was officially filed and given a number. It now enters the legislative queue.
Votes
No votes have been recorded for this legislation yet.
News
No related news coverage found for this legislation yet.
Source Information
Document Type
Congressional Bill
Official Title
A bill 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
Cosponsors
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