Amendment · S.Amdt. 2731· Senate(119-SAMDT-2731)

S.Amdt. 2731

Age: 55 years

New Mexico

Introduced: 6/30/2025
Sponsored by: Martin Heinrich
Cosponsors: None

Changes bill: 119-HR-1 — One Big Beautiful Bill Act

Introduced
Pending Consideration
Failed

This amendment was never taken up, and the bill finished without it. It was never voted on.

What this amendment would do

Mr. Heinrich submitted amendment SA 2731 to change section 50101(a) of the bill.

Its Purpose

The purpose of this amendment is to add an Exception based on the price of oil. Specifically, it aims to ensure that during any month where the average price of Brent crude oil goes over $67.80 per barrel, certain rules for oil and gas leases apply.

The royalty rate for leases issued under section 17 of the Mineral Leasing Act must be at least 16 2/3 percent.
The royalty rate for reinstated leases issued under section 31 of the Mineral Leasing Act must be at least 20 percent.