Alaska gets 70 percent of the receipts from fiscal year 2034
What the document says“Beginning in fiscal year 2034, of the receipts from sales, rentals, bonuses, and royalties on leases issued pursuant to this section after the date of enactment of the Act entitled `An Act to provide for reconciliation pursuant to title II of H. Con. Res. 14' (119th Congress)--”
The section amends section 107(l) of the Naval Petroleum Reserves Production Act of 1976 (42 U.S.C. 6506a(l)) so that from fiscal year 2034, of the receipts from sales, rentals, bonuses and royalties on leases issued under that section after enactment of this Act, 70 percent is paid to the State of Alaska and 30 percent to the Treasury of the United States.
What the document actually says“Beginning in fiscal year 2034, of the receipts from sales, rentals, bonuses, and royalties on leases issued pursuant to this section after the date of enactment of the Act entitled `An Act to provide for reconciliation pursuant to title II of H. Con. Res. 14' (119th Congress)--”
From fiscal year 2034 the money from these leases is split. It covers sales, rents, bonuses and royalties. Only leases issued after this law count.
Alaska gets 70 percent of it. The Treasury gets the other 30 percent. Before 2034 the older rule still holds.
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