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1 1 (December 18, 2017)

handle is hein.congrec/enhgotpd0001 and id is 1 raw text is: CONGRESSIONAL BUDGET OFFICE U COST ESTIMATE December 18, 2017 H.R. 4568 Enhancing Geothermal Production on Federal Lands Act As ordered reported by the House Committee on Natural Resources on December 13, 2017 H.R. 4568 would authorize the Bureau of Land Management (BLM) to award leases, on a noncompetitive basis, for the development of geothermal resources on certain federal lands. The bill also would require BLM to identify areas that are a priority for such development and would exempt certain geothermal projects from complying with provisions of the National Environmental Policy Act (NEPA). Using information provided by BLM and assuming the availability of appropriated funds, CBO estimates that implementing H.R. 4568 would cost less than $500,000 a year through 2022. Enacting H.R. 4568 could affect direct spending; therefore, pay-as-you-go procedures apply. However, CBO estimates that the net effect on direct spending would not be significant in any year. Enacting H.R. 4568 would not affect revenues. CBO estimates that enacting H.R. 4568 would not significantly affect net direct spending or on-budget deficits in any of the four consecutive 10-year periods beginning in 2028. H.R. 4568 contains no intergovernmental or private-sector mandates as defined in the Unfunded Mandates Reform Act. Noncompetitive Leasing of Geothermal Resources H.R. 4568 would authorize BLM to offer noncompetitive leases of up to 640 acres for lands adjacent to known geothermal discoveries. Under the bill, a company that identified a geothermal resource that extended onto federal land adjacent to company-controlled lands could acquire the lease for a specified amount (called a bonus bid) that is estimated by BLM to be equivalent to the fair market value rather than an amount determined through a competitive auction. In addition to paying the estimated fair market value for the parcel, the bill would require any company awarded such a noncompetitive lease to make annual rental payments equal to those required for lands that are leased competitively. Finally, a company could receive only one noncompetitive lease for each known geothermal discovery.

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