; and (B) by striking 16 2/3 percent each place it appears and inserting 12.5 percent . (2) Conditions for reinstatement Section 31(e)(3) of the Mineral Leasing Act ( 30 U.S.C. 188(e)(3) ) is amended by striking 20 inserting 16 2/3 . (b) Oil and gas minimum bid Section 17(b) of the Mineral Leasing Act ( 30 U.S.C. 226(b) ) is amended— (1) in paragraph (1)(B), by striking $10 per acre during the 10-year period beginning on the date of enactment of the Act titled An Act to provide for reconciliation pursuant to title II of S. Con. Res. 14 . and inserting $2 per acre for a period of 2 years from the date of the enactment of the Federal Onshore Oil and Gas Leasing Reform Act of 1987. ; and (2) in paragraph (2)(C), by striking $10 per acre and inserting $2 per acre . (c) Fossil fuel rental rates Section 17(d) of the Mineral Leasing Act ( 30 U.S.C. 226(d) ) is amended to read as follows: (d) All leases issued under this section, as amended by the Federal Onshore Oil and Gas Leasing Reform Act of 1987, shall be conditioned upon payment by the lessee of a rental of not less than $1.50 per acre per year for the first through fifth years of the lease and not less than $2 per acre per year for each year thereafter. A minimum royalty in lieu of rental of not less than the rental which otherwise would be required for that lease year shall be payable at the expiration of each lease year beginning on or after a discovery of oil or gas in paying quantities on the lands leased. .