A 2022 offshore royalty provision is repealed and a royalty band is set
What the document says“Section 50261 of Public Law 117-169 (136 Stat. 2056) is repealed, and any provision of law amended or repealed by that section is restored or revived as if that section had not been enacted into law.”
The section repeals section 50261 of Public Law 117-169 and revives what it had changed, then amends subparagraphs (A), (C), (F) and (H) of section 8(a)(1) of the Outer Continental Shelf Lands Act (43 U.S.C. 1337(a)(1)) so that each sets a royalty of not less than 12 and a half percent but not more than 16 and two thirds percent.
What the document actually says“Section 50261 of Public Law 117-169 (136 Stat. 2056) is repealed, and any provision of law amended or repealed by that section is restored or revived as if that section had not been enacted into law.”
One section of a 2022 law is wiped out. Any older wording it had changed comes back. It is treated as if it had never passed.
Four spots in an older offshore law are then reworded. Each sets a band for the royalty. The band runs from 12.5 percent to 16 and two thirds percent.
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