The coal royalty is capped at 7 percent through September 30, 2034
What the document says“except such amount shall be not more than 7 percent during the period that begins on the date of enactment of the Act entitled `An Act to provide for reconciliation pursuant to title II of H. Con. Res. 14' (119th Congress) and ends September 30, 2034,”
The section amends the fourth sentence of section 7(a) of the Mineral Leasing Act (30 U.S.C. 207(a)) to insert a cap of 7 percent on the royalty rate, running from enactment of this Act to September 30, 2034.
What the document actually says“except such amount shall be not more than 7 percent during the period that begins on the date of enactment of the Act entitled `An Act to provide for reconciliation pursuant to title II of H. Con. Res. 14' (119th Congress) and ends September 30, 2034,”
The rate may not go above 7 percent. That cap starts the day this law passed. It ends on September 30, 2034.
A royalty is a share of the value of the coal mined. The cap is a ceiling, not a floor. After 2034 the older rule comes back.
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