A bill to amend the Mineral Leasing Act to promote the development of Federal coal resources.
Coal Leasing Amendments Act of 2005 - Amends the Mineral Leasing Act to prohibit the Secretary of the Interior from requiring a surety bond or any other financial assurance to guarantee payment of deferred bonus bid installments regarding any coal lease issued on a cash bonus bid to certain lessees or successors in interest having a history of timely payments of noncontested coal royalties and advanced coal royalties in lieu of production (where applicable) and bonus bid installment payments.
Authorizes the Secretary to establish a mining plan period of more than 40 years upon a determination that the longer period: (1) will ensure the maximum economic recovery of a coal deposit; or (2) is in the interest of the orderly, efficient, or economic development of a coal resource.
Repeals the 160-acre limitation placed upon coal leases.
Revises the statutory formula for the payment of advance royalties. Extends from ten years to twenty years the lease term for which advance royalties may be accepted in lieu of the condition of continued operation.
Eliminates the deadline for submission of a coal lease operation and reclamation plan.
Requires the Secretary to review and identify for Congress coal assessments on public lands and the restrictions or impediments to development of those resources.
Introduced in Senate
Read twice and referred to the Committee on Energy and Natural Resources.
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