43 CFR 3120.1-2 - Requirements.

Regulations last checked for updates: Jun 02, 2024

Title 43 - Public Lands: Interior last revised: May 13, 2024

View all text of Subpart 3120 [§ 3120.1 - § 3120.7-3]

§ 3120.1-2 - Requirements.

(a) Each proper BLM Sate office shall hold sales at least quarterly if lands are available for competitive leasing.

(b) Lease sales shall be conducted by a competitive oral or internet-based bidding process.

(c) The national minimum acceptable bid shall be $2 per acre or fraction thereof payable on the gross acreage, and shall not be prorated for any lands in which the United States owns a fractional interest.

[53 FR 22843, June 17, 1988, as amended at 81 FR 59905, Aug. 31, 2016]

authority: 16 U.S.C. 3101

source: 53 FR 22843, June 17, 1988, unless otherwise noted.

cite as: 43 CFR 3120.1-2