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Offshore Energy Revenue Distribution: Gulf States and Wind Power

This act changes how revenues from oil, gas, and wind energy leasing on the Outer Continental Shelf are distributed. It impacts the finances of Gulf Coast states and allocates funds for coastal protection and marine environment projects in other states. A portion of the funds will also go towards wetlands conservation.
Key points
Increases the share of oil and gas revenues for Gulf Coast states, potentially providing more funds for local projects.
Establishes a new revenue sharing system for offshore wind projects, directing 50% of earnings to states near these projects.
Funds from offshore wind must be used for coastal protection, marine management, mitigating harm to fish and wildlife, and onshore infrastructure projects.
A portion of offshore wind revenues (37.5%) will be allocated to the North American Wetlands Conservation Fund.
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Additional Information
Print number: 117_HR_8437
Sponsor: Rep. Scalise, Steve [R-LA-1]
Process start date: 2022-07-20