43 USC 3003 – Increasing economic certainty
Current as of: 2024 | Check for updates
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(a) Considerations
The Secretary may consider acreage rental rates, capacity fees, and other recurring annual fees in total when evaluating existing rates paid for the use of Federal land by eligible projects.
(b) Reductions in base rental rates
Terms Used In 43 USC 3003
- Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
The Secretary may reduce acreage rental rates and capacity fees, or both, for existing and new wind and solar authorizations if the Secretary determines—
(1) that the existing rates—
(A) exceed fair market value;
(B) impose economic hardships;
(C) limit commercial interest in a competitive lease sale or right-of-way grant; or
(D) are not competitively priced compared to other available land; or
(2) that a reduced rental rate or capacity fee is necessary to promote the greatest use of wind and solar energy resources.