Section 585.505 - [Effective 7/15/2024] What are the rent and operating fee requirements for a limited lease?(a) The rent for a limited lease is $3 per acre per year, unless otherwise established in the Final Sale Notice and/or your lease instrument.(b) You must pay ONRR the initial 12 months' rent 45 days after you receive the lease copies from BOEM in accordance with the requirements provided in § 585.500(c)(3) .(c) You must pay ONRR as provided in 30 CFR 1218.51 the rent due at the beginning of each subsequent 1-year period on the entire lease area for the duration of your operations period.(d) BOEM will not charge an operating fee for the authorized sale of power from a limited lease.88 FR 6430, 1/31/2023; 89 FR 42740, 7/15/2024