1. Short title This Act may be cited as the Fair Returns for Public Lands Act of 2020 . 2. Increased onshore oil and gas royalty rates Section 17 of the Mineral Leasing Act ( 30 U.S.C. 226 ) is amended— (1) by striking 12.5 each place it appears and inserting 18.75 ; and (2) by striking 12 1/2 per centum each place it appears and inserting 18.75 percent . 3. Increased minimum bid amount Section 17(b) of the Mineral Leasing Act ( 30 U.S.C. 226(b) ) is amended— (1) in paragraph (1)(B)— (A) by striking the subparagraph designation and all that follows through the period at the end of the first sentence and inserting the following: (B) National minimum acceptable bid (i) In general Except as provided in clauses (ii) and (v), the national minimum acceptable bid shall be $10 per acre. ; (B) in the second sentence— (i) by striking Thereafter, the Secretary and inserting the following: (ii) Adjustment The Secretary ; (ii) by striking is necessary: (i) to enhance and inserting the following: is necessary— (I) to enhance ; and (iii) by striking (ii) to promote and inserting the following: (II) to promote ; (C) in the third sentence, by striking Ninety days and inserting the following: (iii) Notification 90 days ; (D) in the fourth sentence, by striking The proposal and inserting the following: (iv) NEPA The proposal ; and (E) by adding at the end the following: (v) Exception To ensure a return of fair market value, as determined by the Secretary, the Secretary may establish in a notice of competitive lease sale a minimum acceptable bid applicable to the lease sale or one or more parcels within the lease sale that is higher than the national minimum bid under clause (i). ; and (2) in subsection (b)(2)(C), by striking $2 per acre and inserting “$10 per acre’’. 4. Increased onshore oil and gas rental rates Section 17(d) of the Mineral Leasing Act ( 30 U.S.C. 226(d) ) is amended, in the first sentence— (1) by striking $1.50 per acre and inserting $3 per acre