H.R.1372 - Virginia Access to Energy Act112th Congress (2011-2012)
|Sponsor:||Rep. Goodlatte, Bob [R-VA-6] (Introduced 04/05/2011)|
|Committees:||House - Natural Resources|
|Latest Action:||House - 04/07/2011 Referred to the Subcommittee on Energy and Mineral Resources. (All Actions)|
This bill has the status Introduced
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Summary: H.R.1372 — 112th Congress (2011-2012)All Information (Except Text)
Introduced in House (04/05/2011)
Virginia Access to Energy Act or VA Energy Act - Directs the Secretary of the Interior to conduct offshore oil and gas Lease Sale 220 on the Outer Continental Shelf (OCS) not later than one year after enactment of this Act.
Prohibits the Secretary from making any lease tract available if the President determines that it would create an unreasonable conflict with military operations.
Directs the Secretary of the Treasury to deposit 50% of qualified revenues from such lease sales into the general fund of the Treasury to reduce the outstanding federal debt and 50% in a special account for specified payments to the state of Virginia.