Section 2 of the Mineral Lands Leasing Act of 1920, referred to in subsec. (b)(1), probably means section 2(a) of the Mineral Lands Leasing Act of 1920, act Feb. 25, 1920, ch. 85, § 2(a),41 Stat. 438
, which enacted section
, Mineral Lands and Mining. Section 2(b) to (d) of the Mineral Lands Leasing Act of 1920 enacted sections
The Mineral Lands Leasing Act of 1920, as amended, referred to in subsec. (b)(3), (5), is act Feb. 25, 1920, ch. 85, 41 Stat. 437
, as amended, known as the Mineral Leasing Act, which is classified generally to chapter 3A (§ 181 et seq.) of Title 30. For complete classification of this Act to the Code, see Short Title note set out under section
In subsec. (b)(3), “October 31, 1983” substituted for “the date of enactment of this Act”, meaning the date of enactment of Pub. L. 98–140
of which amended generally subsec. (b)(3), as the probable intent of Congress.
1983—Subsec. (b)(3). Pub. L. 98–140
, § 7(a), amended par. (3) generally, substituting “two years from October 31, 1983, the bidding rights may be used as a monetary credit, which shall be considered ‘money’ within the meaning of section 35 of the Mineral Lands Leasing Act of 1920 (30
), against that portion of bonus payments, rental or royalty payments paid into the Treasury of the United States and retained by the Federal Government on any Federal coal lease won or otherwise held by the applicant, its successors or assigns” for “three years from October 19, 1980, the holder of the bidding rights may, at its election, use the outstanding bidding rights as a credit against any royalty, rental, or advance royalty payments owed to the United States on any Federal coal lease(s) it may then hold” and inserting provisions that the holder of the bidding rights shall pay the balance due on such bonus payments, rental or royalty payments in cash for transmittal to the States in the same manner and in the same amounts as though the entire payment were made in cash under the provisions of the Mineral Leasing Act of 1920 as amended, and that the bidding rights may be transferred or sold at any time by the owner to any other party with all the rights of the owner to the credit, and after such transfer, the owner shall notify the Secretary.
Subsec. (e). Pub. L. 98–140
, § 7(b), added subsec. (e).