H.R.555 - BLM Live Internet Auctions Act113th Congress (2013-2014)
|Sponsor:||Rep. Johnson, Bill [R-OH-6] (Introduced 02/06/2013)|
|Committees:||House - Natural Resources|
|Committee Reports:||H. Rept. 113-201|
|Latest Action:||House - 09/10/2013 Placed on the Union Calendar, Calendar No. 148. (All Actions)|
|Notes:||For further action, see H.R.3979, which became Public Law 113-291 on 12/19/2014.|
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Summary: H.R.555 — 113th Congress (2013-2014)All Information (Except Text)
Reported to House without amendment (09/10/2013)
(This measure has not been amended since it was introduced. The summary of that version is repeated here.)
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.