H.R. 1517 · 117th Congress
Ending Taxpayer Welfare for Oil and Gas Companies Act of 2021
- Stage
- Reported from committee
- Sponsor
- Katie Porter
- Introduced
- 2021-03-02
- Latest action
- 2022-12-14 · Reported (Amended) by the Committee on Natural Resources. H. Rept. 117-632.
Summary
Ending Taxpayer Welfare for Oil and Gas Companies Act of 2021
This bill addresses royalties related to the development of federal energy resources.
Among other requirements, 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 $10 and requires it to be adjusted every four years for inflation; and increases inspection fees and penalties on oil and gas operators.