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Indigenous Mineral Resources Incentive Development Act signed into law

The Indigenous Mineral Resources Incentives Development Act was signed into law by Pennsylvania Govenor Tom Corbett on October 9, 2012.  The law allows the Pennsylvania Department of General Services to execute leases for the mining and removal of coal, oil, natural gas and other mineral resources underlying property owned by the state and the State System of Higher Education. The Pennsylvania Senate Republicans have a news release with an overview of the law and a description of how the lease profits are to be divided.  The Marcellus Shale Coalition has a statement regarding the newly signed law.  The Philadelphia Inquirer has more on the passage of the Act by the Pennsylvania Legislature in late September.