Text of the BLM Live Internet Auctions Act

The text of the bill below is as of Aug 1, 2011 (Introduced).

Source: GPO

I

112th CONGRESS

1st Session

H. R. 2752

IN THE HOUSE OF REPRESENTATIVES

August 1, 2011

(for himself, Mr. Lamborn, Mr. Bishop of Utah, and Mr. Thornberry) introduced the following bill; which was referred to the Committee on Natural Resources

A BILL

To amend the Mineral Leasing Act to authorize the Secretary of the Interior to conduct onshore oil and gas lease sales through Internet-based live lease sales, and for other purposes.

1.

Short title

This Act may be cited as the BLM Live Internet Auctions Act.

2.

Internet-based onshore oil and gas lease sales

(a)

Authorization

Section 17(b)(1) of the Mineral Leasing Act (30 U.S.C. 226(b)(1) is amended—

(1)

in subparagraph (A), in the third sentence, by inserting , except as provided in subparagraph (C) after by oral bidding; and

(2)

by adding at the end the following:

(C)

In order to diversify and expand the Nation’s onshore leasing program to ensure the best return to the Federal taxpayer, reduce fraud, and secure the leasing process, the Secretary may conduct onshore lease sales through Internet-based live bidding methods.

.

(b)

Report

Not later than 90 days after the tenth Internet-based lease sale conducted under the amendment made by subsection (a), the Secretary of the Interior shall analyze the first 10 such lease sales and report to Congress the findings of the analysis. The report shall include—

(1)

estimates on increases or decreases in such lease sales, compared to sales conducted by oral bidding, in—

(A)

the number of bidders;

(B)

the average amount of bid;

(C)

the highest amount bid; and

(D)

the lowest bid; and

(2)

an estimate on the total cost or savings to the Department of the Interior as a result of such sales, compared to sales conducted by oral bidding.