BLM Live Internet Auctions Act

House Bill 555 - BLM Live Internet Auctions Act: Overview, Status, and Impact

Hozzl · 2024-03-14T12:48:56Z

Explore the details of House Bill 555 BLM Live Internet Auctions Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Energy. Stay informed on legislative developments.

3/14/2024, 12:48 PM

Congressional Summary of HR 555

(This measure has not been amended since it was introduced. The summary of that version is repeated here.)

BLM Live Internet Auctions Act - Amends the Mineral Leasing Act to authorize the Secretary of the Interior to conduct onshore oil and gas lease sales through Internet-based live bidding methods.

Requires each individual Internet-based lease sale to conclude within seven days.

Directs the Secretary to analyze the first 10 such lease sales, including estimates of: (1) increases or decreases in such lease sales, compared to sales conducted by oral bidding; and (2) the total cost or savings to the Department of the Interior as a result of such sales, compared to sales conducted by oral bidding.

Requires the report to evaluate the demonstrated or expected effectiveness of different structures for lease sales which may provide an opportunity to better maximize bidder participation, ensure the highest return to the federal taxpayers, minimize opportunities for fraud or collusion, and ensure the security and integrity of the leasing process.

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Current Status of Bill HR 555

Bill HR 555 is currently in the status of Bill Introduced since February 6, 2013. Bill HR 555 was introduced during Congress 113 and was introduced to the House on February 6, 2013. Bill HR 555's most recent activity was Placed on the Union Calendar, Calendar No. 148. as of September 10, 2013

Bipartisan Support of Bill HR 555

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill HR 555

Primary Policy Focus

Energy

Potential Impact Areas

- Congressional oversight

- Energy revenues and royalties

- Government information and archives

- Internet and video services

- Internet, web applications, social media

- Oil and gas

- Public contracts and procurement

Alternate Title(s) of Bill HR 555

BLM Live Internet Auctions Act

To amend the Mineral Leasing Act to authorize the Secretary of the Interior to conduct onshore oil and gas lease sales through Internet-based live lease sales, and for other purposes.