Summary: H.R.5513 — 111th Congress (2009-2010)All Information (Except Text)

There is one summary for H.R.5513. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (06/10/2010)

Spilled Oil Royalty Collection Act - Amends the Outer Continental Shelf Lands Act to declare that any royalty under an oil and gas lease on submerged lands of the outer Continental Shelf, except a deepwater lease, shall apply to all oil that is saved, removed, sold, or discharged, without regard to whether any of the oil is unavoidably lost or used on, or for the benefit of, the lease.

Declares that: (1) royalty shall apply to all oil discharged under a deepwater lease, at a rate of not less than 12.5% fixed by the Secretary of the Interior in amount or value of any oil that is discharged; and (2) such royalty shall apply without regard to whether any of the oil is thereafter unavoidably lost.

Declares April 15, 2010, the effective date of this Act (five days before the Deepwater Horizon drilling rig explosion in the Gulf of Mexico).