Offshore Wind Revenue Sharing for Coastal States and Communities
This act changes how money from offshore wind projects in the New York Bight area is distributed. Half of the revenue will go to the federal budget, and the other half will be allocated to eligible coastal states and local communities. These funds are intended for coastal protection, workforce training, renewable energy infrastructure development, and education, potentially benefiting local environments and economies.
Key points
50% of offshore wind revenue from the New York Bight will go directly to coastal states and communities.
Funds must be used for coastal protection, renewable energy workforce training, infrastructure development, and STEM education.
States and local communities will be required to report on how these funds are used to ensure transparency.
Status:
Expired
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