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OH SB108
Bill
Status
3/8/2011
Primary Sponsor
Keith Faber
Click for details
AI Summary
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Creates the Oil and Gas Leasing Board consisting of five members: the chief of the division of mineral resources management, the chief of the division of geological survey, and three governor-appointed members (two recommended by the oil and gas industry and one from environmental advocacy).
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Grants the board exclusive authority to lease state agency-owned or controlled land for exploration, development, and production of oil and natural gas resources through a nomination and approval process with a 90-day decision timeline.
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Establishes a competitive bidding process for leases occurring quarterly, with advertisements in newspapers and online, and requires the board to award leases to the highest and best bidder while considering lessee financial responsibility and performance ability.
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Creates the state land royalty fund to receive all lease payment proceeds (minus a percentage for board administration), with money distributed to state agencies whose land produced the oil or gas for capital and operating costs.
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Removes oil and gas leasing authority from the Department of Administrative Services, Division of Wildlife, and state university boards of trustees by repealing and amending existing mineral leasing provisions to consolidate authority in the new Oil and Gas Leasing Board.
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/oil & gas leases on state land
Last Action
To Agriculture, Environment & Natural Resources
3/8/2011