Page:United States Statutes at Large Volume 92 Part 3.djvu/739

 PUBLIC LAW 95-621—NOV. 9, 1978

92 STAT. 3371

(2) CONGRESSIONAL REIMPOSITION.—Any exercise of authority

by the Congress under subsection (a) shall be by the adoption of a concurrent resolution after May 31, 1985, described in section 507(c)(2) and, subject to subsection (b), shall take effect for the Post, p. 3406. first month beginning after the date of the adoption of such resolution. (d) MAXIMUM LAWFUL PRICES APPLICABLE UNDER REIMPOSITION OF PRICE CONTROL.—If maximum lawful prices are reimposed under this

section on first sales of natural gas to which section 121(a) applies, the maximum lawful price under this section for any first sale of such natural gas delivered during any month shall be— (1) except as provided in paragraph (2), the maximum lawful price, per million Btu's, computed for such month under section 102 (relating to new natural gas); and (2) the maximum lawful price, per million Btu's, computed for such month under section 103(b) (2j (relating to new, onshore production wells 5,000 feet or less in depth), in the case of natural gas produced from any new, onshore production well (as defined in section 103(c)) if such natural gas— (A) was not committed or dedicated to interstate commerce on April 20, 1977; and (B) is produced from a completion location which is located at a depth of 5,000 feet or more.

•: •; j

(e) ALLOWANCE FOR STATE SEVERANCE TAXES AND CERTAIN PRODUCTION-RELATED COSTS.—A price may exceed the maximum lawful price

applicable for such natural gas under this section to the same extent as is provided under section 110 with respect to maximum lawful prices under subtitle A. (f) LIMITATION.—Maximum lawful prices may be reimposed only once under this section. SEC. 123. REPORT TO THE CONGRESS. (a) REPORTS.—On or before July 1, 1984, and on or before January 1, 15 USC 3333. 1985, the Department of Energy shall prepare and transmit to the President and to each House of the Congress a report on natural gas prices, supplies, and demand, and the competitive conditions and market forces in the natural gas industry in the United States. Each such report shall include an evaluation by the Department of Energy whether equilibrium exists between supply and demand for natural gas. (b) PUBLIC COMMENT.—In preparing each report required under subsection (a), the Department of Energy shall provide an opportunity for public comment with respect to matters required under ' subsection (a) to be included in such report.

TITLE II—INCREMENTAL PRICING SEC. 201. INDUSTRIAL BOILER FUEL USE. (a) IN GENERAL.—Not later than 12 months after the date of the 15 USC 3341. enactment of this Act, the Commission shall prescribe and make effective (and may from time to time amend) a rule designed to provide for the passthrough, in accordance with the provisions of this title, of the costs of natural gas which are— (1) described in section 203; and (2) incurred by any interstate pipeline.

�