H.R. 4364 · 116th Congress
Taxpayer Fairness for Resource Development Act of 2019
- Stage
- In committee
- Sponsor
- Ben McAdams
- Introduced
- 2019-09-17
- Latest action
- 2019-09-24 · Subcommittee Hearings Held.
Summary
Taxpayer Fairness for Resource Development Act of 2019
This bill addresses royalties related to the development of federal energy resources.
Among other things, the bill
increases the onshore royalty rates for new oil, gas, and coal leases; increases onshore rental rates for oil and gas leasing; modifies the current onshore oil and gas minimum bid from $2 to $5 and requires it to be adjusted every four years for inflation; and makes revisions to the charter of the Royalty Policy Committee, including to increase to six the number of members who are representatives of academia or the public.