Search Results for keywords:"Office of Natural Resources Revenue"

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Search Results: keywords:"Office of Natural Resources Revenue"

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  • 2021-01502 — Inflation Adjustments to Civil Monetary Penalty Rates for Calendar Year 2021
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    Type:Rule
    Citation:86 FR 7808
    Reading Time:about 9 minutes

    The Office of Natural Resources Revenue (ONRR) has issued a final rule to adjust its maximum civil monetary penalties for inflation experienced from October 2019 to October 2020. This adjustment is required by the Federal Civil Penalties Inflation Adjustment Act and affects penalties related to violations under the Federal Oil and Gas Royalty Management Act. The new rates are based on the Consumer Price Index and are effective immediately as of February 2, 2021. The rulemaking complies with various executive orders and acts, including the Regulatory Flexibility Act and the Paperwork Reduction Act.

    Simple Explanation

    The office in charge of collecting money when companies use natural resources has decided to make their fines bigger because the cost of things has gone up a little bit since last year. They use these new fine amounts right away and follow the rules set by the government for doing so.

  • 2025-00358 — 2025 Civil Monetary Penalty Inflation Adjustments
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    Type:Rule
    Citation:90 FR 1878
    Reading Time:about 8 minutes

    The Office of Natural Resources Revenue (ONRR), part of the Interior Department, announced a final rule to adjust civil monetary penalties for inflation, effective January 10, 2025. This adjustment follows the Federal Civil Penalties Inflation Adjustment Act and annual guidance from the Office of Management and Budget (OMB). The rule updates the penalty amounts under the Federal Oil and Gas Royalty Management Act, ensuring consistency with inflation. It does not introduce significant economic changes or impose new burdens on the public.

    Simple Explanation

    The ONRR, which helps manage oil and gas money for the government, is making sure penalty amounts keep up with money's changing value over time, starting January 10, 2025. They promise this won't make a big change in the economy or make life harder for people.