Offshore oil and gas royalty rate

Section 8(a)(1) of the Outer Continental Shelf Lands Act (43 U.S.C. 1337(a)(1)) is amended by striking 16 2/3 percent, but not more than 18 3/4 percent, during the 10-year period beginning on the date of enactment of the Act titled An Act to provide for reconciliation pursuant to title II of S. Con. Res. 14, and not less than 16 2/3 percent thereafter, each place it appears and inserting 18 3/4 percent,.