H.R. 555: BLM Live Internet Auctions Act

Introduced:
Feb 06, 2013 (113th Congress, 2013–2015)
Sponsor:
Rep. Bill Johnson [R-OH6]
Status:
Referred to Committee
Schedule:
This bill is scheduled for the following committee meetings:
May 22, 2013 10 a.m. — House Committee on Natural Resources: Subcommittee on Energy and Mineral Resources

The bill’s title was written by the bill’s sponsor. H.R. stands for House of Representatives bill.

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Library of Congress Summary

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2/6/2013--Introduced.
BLM Live Internet Auctions Act - Amends the Mineral Leasing Act to authorize the Secretary of the Interior to conduct onshore oil and gas lease sales through Internet-based live bidding methods.
Requires each individual Internet-based lease sale to conclude within seven days.
Directs the Secretary to analyze the first 10 such lease sales, including estimates of:
(1) increases or decreases in such lease sales, compared to sales conducted by oral bidding; and
(2) the total cost or savings to the Department of the Interior as a result of such sales, compared to sales conducted by oral bidding.
Requires the report to evaluate the demonstrated or expected effectiveness of different structures for lease sales which may provide an opportunity to better maximize bidder participation, ensure the highest return to the federal taxpayers, minimize opportunities for fraud or collusion, and ensure the security and integrity of the leasing process.

House Republican Conference Summary

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United States Code

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