Ed Markey: “I have an amendment at the desk made in order under the rule. The Acting CHAIR. The Clerk will designate the amendment.…”

“I have an amendment at the desk made in order under the rule. The Acting CHAIR. The Clerk will designate the amendment. The text of the amendment is as follows: Page 19, beginning line 8, strike section 6 (value adjustment payment to United States) and insert the following new section: SEC. 6. ROYALTY PAYMENT TO UNITED STATES FOR MINERALS PRODUCED FROM CONVEYED FEDERAL LAND. (a) Royalty Payment Required.--As a condition of the land exchange under this Act, Resolution Copper shall pay to the United States, by not later than March 15 of each calendar year, a royalty payment in an amount equal to 8 percent of the value of the quantity of locatable minerals produced during the preceding calendar year from the Federal land conveyed to Resolution Copper under section 4, as reported under subsection (b). (b) Annual Production Reporting to Determine Royalty Payment.-- (1) Report required.--Resolution Copper shall submit to the Secretary of the Interior an annual report indicating the quantity of locatable minerals produced in commercial quantities from the Federal land conveyed to Resolution Copper under section 4. (2) Submission deadline.--The first report under paragraph (1) shall be submitted not later than February 15 of the first calendar year beginning after the date of commencement of production of valuable locatable minerals in commercial quantities from the Federal land conveyed to Resolution Copper under section 4 and cover the preceding calendar year.…”