The Outer Continental Shelf Lease Restoration Act of 2026 addresses what happens when offshore wind energy lease areas are surrendered or terminated. The bill allows companies that hold adjacent wind leases to purchase surrendered lease areas at the original per-acre bid price, with ownership vesting immediately upon payment. If adjacent leaseholders do not purchase their shares within the specified timeframe, those unclaimed areas must be returned to the government's inventory and offered for lease to the general public within 90 days under the same terms as before. The legislation prohibits the company that surrendered a lease from reacquiring that same area and prevents the federal government from issuing new oil and gas leases or permits until all wind lease areas have been either conveyed to adjacent holders or offered publicly. The bill streamlines the process by ratifying all prior environmental reviews and analyses conducted for these wind lease areas, eliminating the need for additional environmental assessments.
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