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136 STAT. 2056 PUBLIC LAW 117–169—AUG. 16, 2022 PART 6—FOSSIL FUEL RESOURCES SEC. 50261. OFFSHORE OIL AND GAS ROYALTY RATE. Section 8(a)(1) of the Outer Continental Shelf Lands Act (43 U.S.C. 1337(a)(1)) is amended— (1) in each of subparagraphs (A) and (C), by striking ‘‘not less than 121⁄2 per centum’’ each place it appears and inserting ‘‘not less than 162⁄3 percent, but not more than 183⁄4 percent, during the 10-year period beginning on the date of enactment of the Act titled ‘An Act to provide for reconciliation pursuant to title II of S. Con. Res. 14’, and not less than 162⁄3 percent thereafter,’’; (2) in subparagraph (F), by striking ‘‘no less than 121⁄2 per centum’’ and inserting ‘‘not less than 162⁄3 percent, but not more than 183⁄4 percent, during the 10-year period begin- ning on the date of enactment of the Act titled ‘An Act to provide for reconciliation pursuant to title II of S. Con. Res. 14’, and not less than 162⁄3 percent thereafter,’’; and (3) in subparagraph (H), by striking ‘‘no less than 12 and 1⁄2 per centum’’ and inserting ‘‘not less than 162⁄3 percent, but not more than 183⁄4 percent, during the 10-year period beginning on the date of enactment of the Act titled ‘An Act to provide for reconciliation pursuant to title II of S. Con. Res. 14’, and not less than 162⁄3 percent thereafter,’’. SEC. 50262. MINERAL LEASING ACT MODERNIZATION. (a) ONSHORE OIL AND GAS ROYALTY RATES.— (1) LEASE OF OIL AND GAS LAND.—Section 17 of the Mineral Leasing Act (30 U.S.C. 226) is amended— (A) in subsection (b)(1)(A), in the fifth sentence— (i) by striking ‘‘12.5’’ and inserting ‘‘162⁄3’’; and (ii) by inserting ‘‘or, in the case of a lease issued during the 10-year period beginning on the date of enactment of the Act titled ‘An Act to provide for reconciliation pursuant to title II of S. Con. Res. 14’, 162⁄3 percent in amount or value of the production removed or sold from the lease’’ before the period at the end; and (B) by striking ‘‘121⁄2 per centum’’ each place it appears and inserting ‘‘162⁄3 percent’’. (2) CONDITIONS FOR REINSTATEMENT.—Section 31(e)(3) of the Mineral Leasing Act (30 U.S.C. 188(e)(3)) is amended by striking ‘‘162⁄3’’ each place it appears and inserting ‘‘20’’. (b) OIL AND GAS MINIMUM BID.—Section 17(b) of the Mineral Leasing Act (30 U.S.C. 226(b)) is amended— (1) in paragraph (1)(B), in the first sentence, by striking ‘‘$2 per acre for a period of 2 years from the date of enactment of the Federal Onshore Oil and Gas Leasing Reform Act of 1987.’’ and inserting ‘‘$10 per acre during the 10-year period beginning on the date of enactment of the Act titled ‘An Act to provide for reconciliation pursuant to title II of S. Con. Res. 14’.’’; and (2) in paragraph (2)(C), by striking ‘‘$2 per acre’’ and inserting ‘‘$10 per acre’’. (c) FOSSIL FUEL RENTAL RATES.— (1) ANNUAL RENTALS.—Section 17(d) of the Mineral Leasing Act (30 U.S.C. 226(d)) is amended, in the first sentence, by Time periods. Effective dates. Time period. Effective date. VerDate Sep 11 2014 15:35 Oct 25, 2022 Jkt 029139 PO 00169 Frm 00240 Fmt 6580 Sfmt 6581 E:\PUBLAW\PUBL169.117 PUBL169 jmbennett on LAP3P8D0R2PROD with Publaw