Bill Aims To Protect State Mineral Sales From Federal Cuts

Law360, New York (May 15, 2013, 1:39 PM EDT) -- Lawmakers fuming over cuts to a minerals revenue sharing program floated legislation Tuesday that would allow royalty payments from energy projects on federal land to bypass the U.S. Treasury and go directly to states.

The bipartisan State Mineral Revenue Protection Act, identical versions of which were introduced in the U.S. House of Representatives and the U.S. Senate, would shield the long-running program that provides states with revenue from oil, gas, coal development from sequestration and any other federal withholding.

More than $110 million worth of 2013...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.