§ 226c. — Reduction of royalties under existing leases.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 30USC226c]
TITLE 30--MINERAL LANDS AND MINING
CHAPTER 3A--LEASES AND PROSPECTING PERMITS
SUBCHAPTER IV--OIL AND GAS
Sec. 226c. Reduction of royalties under existing leases
From and after August 8, 1946, the royalty obligation to the United
States under all leases requiring payment of royalty in excess of 12\1/
2\ per centum, except leases issued or to be issued upon competitive
bidding, is reduced to 12\1/2\ per centum in amount or value of
production removed or sold from said leases as to (1) such leases, or
such part of the lands subject thereto, and the deposits underlying the
same, as are not believed to be within the productive limits of any oil
or gas deposit, as such productive limits are found by the Secretary to
exist on August 8, 1946, and (2) any production on a lease from an oil
or gas deposit which was discovered after May 27, 1941, by a well or
wells drilled within the boundaries of the lease, and which is
determined by the Secretary to be a new deposit; and (3) any production
on or allocated to a lease pursuant to an approved unit or cooperative
agreement from an oil or gas deposit which was discovered after May 27,
1941, on land committed to such agreement, and which is determined by
the Secretary to be a new deposit, where such lease was included in such
agreement at the time of discovery, or was included in a duly executed
and filed application for the approval of such agreement at the time of
discovery.
(Aug. 8, 1946, ch. 916, Sec. 12, 60 Stat. 957.)
Codification
Section was not enacted as part of act Feb. 25, 1920, ch. 85, 41
Stat. 437, known as the Mineral Leasing Act, which comprises this
chapter.
Savings Provision
See note set out under section 181 of this title.
Outer Continental Shelf; Refunds on Mineral-Lease Payments
Refunds of excess payments with respect to oil, gas, and other
leases on submerged lands of outer Continental Shelf, see section 1339
of Title 43, Public Lands.
