More Funding for States: Coastal Protection and Offshore Wind Revenue Sharing
This law changes how revenues from offshore resource extraction and wind energy are shared, directing significantly more funds to coastal states. Citizens benefit from increased coastal resilience against hurricanes, better marine environment protection, and funding for local infrastructure projects. Funding caps on revenue sharing from the Gulf of Mexico are also removed, ensuring more stable financing for those regions.
Key points
Coastal states will receive 37.5% of revenues (fees, rentals, royalties) from new offshore wind energy projects for coastal protection and infrastructure.
Funding caps on oil and gas revenue sharing from the Gulf of Mexico are eliminated, meaning more resources for Gulf States for coastal protection projects.
These funds must be used for hurricane protection, habitat restoration, scientific research, and infrastructure, not primarily for entertainment projects.
The federal administrative fee on mineral leasing revenues is eliminated, increasing the amounts distributed to states and the Treasury.
Status:
Expired
Record your position for audit.
Why does your vote on bills matter?
It creates raw, undeniable proof. Civic Will provides the permanent data to verify the Government's loyalty towards its citizens
(explained here).
Start recording it now.