COMBINED HYDROCARBON LEASING.

SEC. 350. COMBINED HYDROCARBON LEASING. (a) Special Provisions Regarding Leasing.—Section 17(b)(2) of the Mineral Leasing Act (30 U.S.C. 226(b)(2)) is amended— (1) by inserting “(A)” after “(2)”; and (2) by adding at the end the following: “(B) For any area that contains any combination of tar sand and oil or gas (or both), the Secretary may issue under this Act, separately— “(i) a lease for exploration for and extraction of tar sand; and “(ii) a lease for exploration for and development of oil and gas. “(C) A lease issued for tar sand shall be issued using the same bidding process, annual rental, and posting period as a lease issued for oil and gas, except that the minimum acceptable bid required for a lease issued for tar sand shall be $2 per acre. “(D) The Secretary may waive, suspend, or alter any requirement under section 26 that a permittee under a permit authorizing prospecting for tar sand must exercise due diligence, to promote any resource covered by a combined hydrocarbon lease.” . (b) Conforming Amendment.—Section 17(b)(1)(B) of the Mineral Leasing Act (30 U.S.C. 226(b)(1)(B)) is amended in the second sentence by inserting “, subject to paragraph (2)(B),” after “Secretary”. (c) Regulations.—Not later than 45 days after the date of enactment of this Act, the Secretary shall issue final regulations to implement this section.