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Bill117th CongressFiled Mar 2, 2021Energy
H.R. 1505

Bonding Reform and Taxpayer Protection Act of 2021

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Under committee review

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What it doesSummary reported to house (Dec 14, 2022)

Bonding Reform and Taxpayer Protection Act of 2021

This bill revises bonding requirements for oil and gas development on public land leased from the federal government. Such bonds are required to ensure oil and gas developers have adequate financial resources for implementing reclamation plans to restore public land after oil and gas development (e.g., drilling operations) ceases.

Specifically, the bill increases the bond amounts that oil and gas developers must provide prior to conducting surface-disturbing activities and requires such amounts to adjust at least once every three years for inflation. In addition, the bill sets fees to cover the cost for inspection and enforcement with respect to such leases.

The bill also requires the Bureau of Land Management (BLM) and the U.S. Forest Service (USFS) to establish uniform standards for all interim and final reclamation plans. BLM and USFS may not release any bond amounts until the standards have been met by oil and gas developers and the inspection fees have been paid.

Finally, the bill gives the U.S. Fish and Wildlife Service the authority to obtain and retain adequate financial assurances (e.g., bonds) from nonfederal entities to repair potential damages to resources of the National Wildlife Refuge System prior to the commencement of activities related to mineral development, such as oil and gas operations.

What just happenedDec 14, 2022

Placed on the Union Calendar, Calendar No. 453.

Who’s behind it

Rep. Lowenthal, Alan S. [D-CA-47](D-CA)Sponsor
15 cosponsors15 D
Read on Congress.gov
15cosponsors1committees11actions16subjects
  1. Dec 14, 2022CalendarsH12410

    Placed on the Union Calendar, Calendar No. 453.

  2. Dec 14, 2022CommitteeH12200

    Reported (Amended) by the Committee on Natural Resources. H. Rept. 117-629.

    Natural Resources Committee
  3. Dec 14, 2022Committee5000

    Reported (Amended) by the Committee on Natural Resources. H. Rept. 117-629.

    Natural Resources Committee
  4. May 5, 2021Committee

    Ordered to be Reported by the Yeas and Nays: 23 - 15.

    Natural Resources Committee
  5. May 5, 2021Committee

    Committee Consideration and Mark-up Session Held.

    Natural Resources Committee
  6. May 5, 2021Committee

    Subcommittee on Energy and Mineral Resources Discharged.

    Natural Resources Committee
  7. Mar 9, 2021Committee

    Subcommittee Hearings Held.

    Energy and Mineral Resources Subcommittee
  8. Mar 8, 2021Committee

    Referred to the Subcommittee on Energy and Mineral Resources.

    Energy and Mineral Resources Subcommittee
  9. Mar 2, 2021IntroReferralH11100

    Referred to the House Committee on Natural Resources.

    Natural Resources Committee
  10. Mar 2, 2021IntroReferralIntro-H

    Introduced in House

  11. Mar 2, 2021IntroReferral1000

    Introduced in House

Reported to HouseDec 14, 20227

Bonding Reform and Taxpayer Protection Act of 2021

This bill revises bonding requirements for oil and gas development on public land leased from the federal government. Such bonds are required to ensure oil and gas developers have adequate financial resources for implementing reclamation plans to restore public land after oil and gas development (e.g., drilling operations) ceases.

Specifically, the bill increases the bond amounts that oil and gas developers must provide prior to conducting surface-disturbing activities and requires such amounts to adjust at least once every three years for inflation. In addition, the bill sets fees to cover the cost for inspection and enforcement with respect to such leases.

The bill also requires the Bureau of Land Management (BLM) and the U.S. Forest Service (USFS) to establish uniform standards for all interim and final reclamation plans. BLM and USFS may not release any bond amounts until the standards have been met by oil and gas developers and the inspection fees have been paid.

Finally, the bill gives the U.S. Fish and Wildlife Service the authority to obtain and retain adequate financial assurances (e.g., bonds) from nonfederal entities to repair potential damages to resources of the National Wildlife Refuge System prior to the commencement of activities related to mineral development, such as oil and gas operations.

Introduced in HouseMar 2, 2021

Bonding Reform and Taxpayer Protection Act of 2021

This bill revises bonding requirements for oil and gas development on public land leased from the federal government. Such bonds are required to ensure oil and gas developers have adequate financial resources for implementing reclamation plans to restore public land after oil and gas development (e.g., drilling operations) ceases.

Specifically, the bill increases the amount of bond that oil and gas developers must provide prior to conducting surface-disturbing activities and requires such amounts to adjust every three years for inflation. In addition, the bill sets fees to cover the cost for inspection and enforcement with respect to such leases.

The bill also requires the Department of the Interior and the Department of Agriculture (USDA) to establish uniform standards for all interim and final reclamation plans. Interior and USDA may not release any bond amounts until the standards have been met by oil and gas developers and the inspection fees have been paid.

Finally, the bill gives the U.S. Fish and Wildlife Service the authority to obtain and retain adequate financial assurances (e.g., bonds) from nonfederal entities to repair potential damages to resources of the National Wildlife Refuge System prior to the commencement of activities related to mineral development, such as oil and gas operations.

Bonding Reform and Taxpayer Protection Act of 2021 — Informed