25 USC 2213 - Administration of acquired fractional interests; disposition of proceeds

U.S Code last checked for updates: Nov 25, 2024

§ 2213.

Administration of acquired fractional interests; disposition of proceeds

(a)

In general

(b)

Application of revenue from acquired interests to land consolidation program

(1)

In general

(2)

Requirements

(A)

In general

Until the Secretary removes a lien from an interest in land under paragraph (1)—

(i)

any lease, resource sale contract, right-of-way, or other document evidencing a transaction affecting the interest shall contain a clause providing that all revenue derived from the interest shall be paid to the Secretary; and

(ii)

any revenue derived from any interest acquired by the Secretary in accordance with section 2212 of this title shall be deposited in the fund created under section 2215 of this title.

(B)

Approval of transactions

(3)

Removal of liens after findings

The Secretary may remove a lien referred to in paragraph (1) if the Secretary makes a finding that—

(A)

the costs of administering the interest from which revenue accrues under the lien will equal or exceed the projected revenues for the parcel of land involved;

(B)

in the discretion of the Secretary, it will take an unreasonable period of time for the parcel of land to generate revenue that equals the purchase price paid for the interest; or

(C)

a subsequent decrease in the value of land or commodities associated with the parcel of land make it likely that the interest will be unable to generate revenue that equals the purchase price paid for the interest in a reasonable time.

(4)

Removal of liens upon payment into the acquisition fund

(5)

Other removal of liens

(c)

Tribe not treated as party to lease; no effect on tribal sovereignty, immunity

(1)

In general

(2)

Application of lease

(Pub. L. 97–459, title II, § 214, as added Pub. L. 106–462, title I, § 103(6), Nov. 7, 2000, 114 Stat. 2000; amended Pub. L. 108–374, § 6(a)(6), Oct. 27, 2004, 118 Stat. 1801.)

cite as: 25 USC 2213