S. 620 · 118th Congress
Alaska Offshore Parity Act
- Stage
- Reported from committee
- Sponsor
- Lisa Murkowski
- Introduced
- 2023-03-02
- Latest action
- 2024-11-21 · Committee on Energy and Natural Resources. Reported by Senator Manchin without amendment. Without written report.
Summary
Alaska Offshore Parity Act
This bill requires the Department of the Treasury to share more revenues derived from energy and mineral development in the Alaska Outer Continental Shelf (OCS) region with Alaska and its coastal political subdivisions. Currently, only revenue generated by certain nearshore areas of the OCS is shared with Alaska. The bill requires Treasury to share a specified portion of revenue derived from all areas in the Alaska OCS region. Alaska may use the funding from such revenue for coastal protection, coastal infrastructure, systems to reduce energy costs and greenhouse gas emissions, programs at institutions of higher education, and other related purposes.