H.R.2402 - San Juan County Settlement Implementation Act115th Congress (2017-2018)
|Sponsor:||Rep. Lujan, Ben Ray [D-NM-3] (Introduced 05/08/2017)|
|Committees:||House - Natural Resources|
|Latest Action:||House - 10/04/2017 Subcommittee Hearings Held. (All Actions)|
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Summary: H.R.2402 — 115th Congress (2017-2018)All Information (Except Text)
Introduced in House (05/08/2017)
San Juan County Settlement Implementation ActThis bill provides that if the Department of the Interior retires a coal preference right lease application under the Mineral Leasing Act by issuing a bidding right in exchange for the relinquishment of such application, such bidding right may subsequently be used in lieu of 50% of the amount owed for any monetary payment of: (1) a bonus in a coal lease sale; or (2) rental or royalty under a federal coal lease.
Interior shall calculate a payment of the amounts owed to a relevant state pursuant to such Act based on the combined value of the bidding rights and the amounts received.
Interior shall make such payments to a relevant state from monetary payments received by Interior when bidding rights are exercised pursuant to this bill.
A bidding right issued for a coal preference right lease application under such Act shall be fully transferable to any other person. Such bidding right shall terminate seven years after it is issued.
The bill cancels specified land selections made by the Navajo Nation pursuant to the Navajo-Hopi Land Settlement Act of 1974 and authorizes such nation to make land selections equal in value to those canceled, subject to an acreage cap, specified land exclusions, and a seven-year deadline.