Sec. 103. Disposition of revenues to Atlantic States
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Section 9 of the Outer Continental Shelf Lands Act ( 43 U.S.C. 1338 ) (as amended by section 102) is amended by adding at the end the following: In this subsection: The term Atlantic State means any of the following States, which are adjacent to the South Atlantic planning area: Georgia. North Carolina. South Carolina. Virginia. The term qualified revenues means all revenues derived from all rentals, royalties, bonus bids, and other sums due and payable to the United States from energy development in the Atlantic planning region.
The term qualified revenues does not include revenues generated from leases subject to section 8(g). The term South Atlantic planning area means the area of the outer Continental Shelf (as defined in section 2 of the Outer Continental Shelf Lands Act ( 43 U.S.C. 1331 )) that is located between the northern lateral seaward administrative boundary of the Commonwealth of Virginia and the southernmost lateral seaward administrative boundary of the State of Georgia. For fiscal year 2027 and each fiscal year thereafter— 50 percent of any qualified revenues shall be deposited in the general fund of the Treasury; 12.5 percent shall be split equally among, and allocated to, or deposited in, as applicable— programs for energy efficiency, renewable energy, and nuclear energy at the Department of Energy; the National Park Service Critical Maintenance and Revitalization Conservation Fund established by section 104908 of title 54, United States Code, for use in accordance with subsection
(c)of that section; and the Secretary of Transportation to administer and award TIGER discretionary grants; and 37.5 percent of any qualified revenues shall be deposited in a special account in the Treasury from which the Secretary shall disburse amounts to the Atlantic States in accordance with paragraph (3). Subject to subparagraphs
(B)and (C), effective for fiscal year 2027 and each fiscal year thereafter, the Secretary of the Treasury shall allocate the qualified revenues described in paragraph (2)(C) to each Atlantic 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 each Atlantic State that is closest to the geographical center of the applicable leased tract; and the geographical center of that leased tract. The amount allocated to an Atlantic State for each fiscal year under subparagraph
(A)shall be not less than 10 percent of the amounts available under paragraph (2)(C). Of the amounts received by a State under subparagraph (A), the Atlantic State may use, at the discretion of the Governor of the State— 10 percent— to enhance State land and water conservation efforts; to improve State public transportation projects; to establish alternative, renewable, and clean energy production and generation within each State; and to enhance beach nourishment and costal dredging; and 2.5 percent to enhance geological and geophysical education for the energy future of the United States. The amounts required to be deposited under paragraph
(2)for the applicable fiscal year shall be made available in accordance with that paragraph during the fiscal year immediately following the applicable fiscal year. .
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