S. 451 — Restoring State Mineral Revenues Act

This section eliminates the 2% administrative fee deduction under Section 35(b) of the Mineral Leasing Act (30 U.S.C. 191(b)) from oil and gas leasing revenues (i.e., sales, bonuses, rentals, and royalties), as well as analogous revenues under the Mineral Leasing Act for Acquired Lands, Geothermal Steam Act of 1970, and Federal Oil and Gas Royalty Management Act of 1982, prior to distribution. (Thus, states now receive 50% and counties 25% of full revenue amounts deposited into the Treasury, without the prior 2% deduction to a special fund for Department of the Interior administrative expenses.) It makes conforming amendments to remove cross-references to the eliminated provision.