Alaska gets 70 percent of its offshore sale revenues from fiscal year 2034
What the document says“Notwithstanding section 8(g) and section 9 of the Outer Continental Shelf Lands Act (43 U.S.C. 1337(g), 1338), and beginning in fiscal year 2034, of the bonuses, rents, royalties, and other revenues derived from lease sales conducted under subsection (a)(2)--”
The section provides that from fiscal year 2034, notwithstanding sections 8(g) and 9 of the Outer Continental Shelf Lands Act, 70 percent of the bonuses, rents, royalties and other revenues from the Alaska region sales are paid to the State of Alaska and 30 percent go to the Treasury as miscellaneous receipts. Those sales use the lease form, terms, economic conditions and stipulations of the final notice of sale for Cook Inlet Lease Sale 244.
What the document actually says“Notwithstanding section 8(g) and section 9 of the Outer Continental Shelf Lands Act (43 U.S.C. 1337(g), 1338), and beginning in fiscal year 2034, of the bonuses, rents, royalties, and other revenues derived from lease sales conducted under subsection (a)(2)--”
From fiscal year 2034 the money from these sales is split. That covers bonuses, rents and royalties. The two shares are set out below.
Alaska gets 70 percent of it. The Treasury gets the other 30 percent. Two rules in an older law are set aside to do this.
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