Coal Leasing Amendments Act of 2003
Summary
Authorizes the Secretary of the Interior to establish a mining plan period of more than 40 years upon a determination that the longer period: (1) will ensure the maximum economic recovery of a coal deposit; or (2) the longer period is in the interest of the orderly, efficient, or economic development of a coal resource.
Revises the statutory formula for the payment of advance royalties. Extends from ten years to twenty years the lease term for which advance royalties may be accepted in lieu of the condition of continued operation.
Eliminates the deadline for submission of a coal lease operation and reclamation plan.
Prohibits the Secretary from requiring a surety bond or any other financial assurance to guarantee payment of deferred bonus bid installments with respect to any coal lease issued based upon a cash bonus bid.
Requires the Secretary to review and identify for Congress coal assessments on public lands and the restrictions or impediments to development of those resources.
