Sec. 123. Payments from areas newly available to leasing
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Notwithstanding section 9 of the Act ( 43 U.S.C. 1338 ), upon enactment of this Act and each fiscal year thereafter, 37.5 percent of all bonuses, rents, royalties, and other sums due and payable to the United States received on or after enactment of this Act from outer Continental Shelf leases entered into on or after the date of enactment of this Act shall be paid to the coastal States that are Adjacent States with respect to such leases. Such payment shall be allocated to each such Adjacent State in amounts (based on a formula established by the Secretary by regulation) that are inversely proportional to the respective distances between the point on the coastline of the Adjacent State that is closest to the geographic center of the applicable leased tract and the geographic center of the leased tract.
Subsection
(a)shall not apply to— revenues from the forfeiture of a bond or other surety securing obligations other than royalties, civil penalties, or royalties taken by the Secretary in-kind and not sold; and revenues generated from leases subject to section 8(g) of the Act ( 43 U.S.C. 1137(g) ). Amounts paid to a State under subsection
(a)shall be used by the State for such purposes as that State considers necessary. Subsection
(a)shall not affect the application of section 105 of the Gulf of Mexico Energy Security Act of 2006 (title I of division C of Public Law 109–432 ; ( 43 U.S.C. 1331 note)), as in effect before the enactment of this Act, with respect to revenues received by the United States under oil and gas leases issued for tracts located in the Western and Central Gulf of Mexico Outer Continental Shelf Planning Areas, including such leases issued on or after the date of the enactment of this Act. Section 105(f)(1) of the Gulf of Mexico Energy Security Act of 2006 (title I of division C of Public Law 109–432 ; ( 43 U.S.C. 1331 note)) is amended by striking 2055 and inserting 2022, and shall not exceed $750,000,000 for each of fiscal years 2023 through 2055 .
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- 43 USC 1137(g)
- Pub. L. 109-432
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Sec. 123
Payments from areas newly available to leasing
Cite43 USC 1137(g)
Pub. L.Pub. L. 109-432
Cites 4Cited by 0 across 0 sources