Royalty Relief Suspension Act of 2006 - Instructs the Secretary of the Interior to place limitations based upon the market price on the royalty relief granted under any lease for production of oil or natural gas on federal land entered into by the Secretary on or after the date of enactment of this Act.
States that Congress reaffirms certain statutory authority of the Secretary to vary, based upon the price of production from a lease, the suspension of royalties under any lease subject to the Outer Continental Shelf Deep Water Royalty Relief Act.