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Financial Support for Gulf States After Offshore Drilling Moratorium

This act aims to provide financial compensation to states and local governments in the Gulf of Mexico region. It will help offset revenue losses from the moratorium on new oil and gas leases, potentially stabilizing local budgets and public services.
Key points
Gulf states and local governments will receive funds to compensate for lost revenue due to the ban on new offshore oil and gas leases.
Payments will equal the difference between current revenues and the average from 2017-2020, aiming to ensure regional financial stability.
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Additional Information
Print number: 117_HR_2131
Sponsor: Rep. Carl, Jerry L. [R-AL-1]
Process start date: 2021-03-23