10 Jan 2025
💵2025 CMP Inflation Adjustments
2025 Civil Monetary Penalty Inflation Adjustments
Summary
Pursuant to the Federal Civil Penalties Inflation Adjustment Act of 1990, as amended by the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015 (referred to herein as the "Inflation Adjustment Acts"), and Office of Management and Budget ("OMB") guidance, ONRR is adjusting for inflation the civil monetary penalty ("CMP") amounts it assesses under the Federal Oil and Gas Royalty Management Act of 1982 ("FOGRMA").
Agencies
- Interior Department
- Natural Resources Revenue Office
Business Impact
$$ - Med
The regulation concerns civil monetary penalty adjustments due to inflation, affecting business compliance under the Federal Oil and Gas Royalty Management Act. This impacts financial planning for businesses that may face increased penalties starting January 10, 2025.