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OH HB107
Bill
Status
3/30/2009
Primary Sponsor
John Adams
Click for details
AI Summary
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Creates the Oil and Gas Leasing Board consisting of the chief of the division of mineral resources management and four governor-appointed members (two from oil and gas industry, one from environmental advocacy, one from public).
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Establishes procedures for leasing state-owned land for oil and gas exploration and production, including nomination process, approval by the board within 90 days, and competitive bidding for leases.
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Creates the state land royalty fund to receive revenue from oil and gas leases, with money used to pay capital and operating costs of state agencies whose land is leased.
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Requires standard lease forms consistent with oil and gas industry practices with a one-eighth landowner royalty rate; bid information is confidential.
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Creates the oil and gas leasing board administration fund from a percentage of lease proceeds to cover board administrative expenses and member reimbursements.
Legislative Description
To create the Oil and Gas Leasing Board and to establish a procedure by which the Board may enter into leases for oil and gas production on land owned or under the control of a state agency for the purpose of providing funding for capital and operating costs for the agency.
Oil & Gas Leasing Board-lease state land oil and gas production
Last Action
To Agriculture & Natural Resources
3/30/2009