A bill to amend the Gulf of Mexico Energy Security Act of 2006 to modify a definition and the disposition and authorized uses of qualified outer Continental Shelf revenues under that Act and to exempt State and county payments under that Act from sequestration, to provide for the distribution of certain outer Continental Shelf revenues to the State of Alaska, and for other purposes.
About This Bill
Introduced
Latest Action · February 25, 2020
Placed on Senate Legislative Calendar under General Orders. Calendar No. 430.
Conservation Of America's Shoreline Terrain and Aquatic Life Act or the COASTAL Act
This bill addresses the distribution of revenues collected from oil and gas leasing on the Gulf of Mexico Outer Continental Shelf (OCS) and the Alaska OCS.
Specifically, the bill
increases the revenue Gulf states (Alabama, Louisiana, Mississippi, and Texas) receive from certain federal oil and leases in the Gulf of Mexico and eliminates the revenue sharing cap; exempts from sequestration payments of such revenue to Gulf states; allocates revenue from energy development in the Alaska OCS to Alaska for specified purposes, including mitigation of damage to fish, wildlife, or natural resources; and eliminates the 2% fee that the federal government currently deducts from a state's share to cover administrative or other costs.
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