Alaska Offshore Parity Act
Last action on Nov 17, 2022Placed on Senate Legislative Calendar under General Order...
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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. 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.
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