Alaska Offshore Parity Act

To provide for the distribution of certain outer Continental Shelf revenues to the State of Alaska, and for other purposes. 1. Short title This Act may be cited as the Alaska Offshore Parity Act 2. Definitions In this Act: (1) Coastal political subdivision The term coastal political subdivision (A) a county-equivalent subdivision of the State— (i) all or part of which lies within the coastal zone (as defined in section 304 of the Coastal Zone Management Act of 1972 ( 16 U.S.C. 1453 (ii) the closest coastal point of which is not more than 200 nautical miles from the geographical center of any leased tract in the Alaska outer Continental Shelf region; and (B) a municipal subdivision of the State that is determined by the State to be a significant staging area for oil and gas servicing, supply vessels, operations, suppliers, or workers. (2) Institution of higher education The term institution of higher education 20 U.S.C. 1002 (3) Qualified revenues (A) In general The term qualified revenues (B) Exclusions The term qualified revenues (i) revenues generated from leases subject to section 8(g) of the Outer Continental Shelf Lands Act ( 43 U.S.C. 1337(g) (ii) revenues from the forfeiture of a bond or other surety securing obligations other than royalties, civil penalties, or royalties taken by the Secretary in-kind and not sold. (4) Secretary The term Secretary (5) State The term State 3. Disposition of qualified revenues in Alaska (a) In general Notwithstanding section 9 of the Outer Continental Shelf Lands Act ( 43 U.S.C. 1338 (1) 50 percent of qualified revenues in the general fund of the Treasury; (2) 42.5 percent of qualified revenues in a special account in the Treasury, to be distributed by the Secretary to the State; and (3) 7.5 percent of qualified revenues in a special account in the Treasury, to be distributed by the Secretary to coastal political subdivisions. (b) Allocation among coastal political subdivisions Of the amount paid by the Secretary to coastal political subdivisions under subsection (a)(3)— (1) 90 percent shall be allocated among costal political subdivisions described in section 2(1)(A) in amounts (based on a formula established by the Secretary by regulation) that are inversely proportional to the respective distances between the point in each coastal political subdivision that is closest to the geographic center of the applicable leased tract and not more than 200 miles from the geographic center of the leased tract; and (2) 10 percent shall be divided equally among each coastal political subdivision described in section 2(1)(B). (c) Timing The amounts required to be deposited under subsection (a) for the applicable fiscal year shall be made available in accordance with that subsection during the fiscal year immediately following the applicable fiscal year. (d) Authorized uses (1) In general Subject to paragraph (2), the State shall use all amounts received under subsection (a)(2) in accordance with all applicable Federal and State laws, for 1 or more of the following purposes: (A) Projects and activities for the purposes of coastal protection, conservation, and restoration, including onshore infrastructure and relocation of communities directly affected by coastal erosion, melting permafrost, or climate change-related losses. (B) Mitigation of damage to fish, wildlife, or natural resources. (C) Mitigation of the impact of outer Continental Shelf activities through the funding of onshore infrastructure projects and related rights-of-way. (D) Adaptation planning, vulnerability assessments, and emergency preparedness assistance to build healthy and resilient communities. (E) Installation and operation of energy systems to reduce energy costs and greenhouse gas emissions compared to systems in use as of the date of enactment of this Act. (F) Programs at institutions of higher education in the State. (G) Other purposes, as determined by the Governor of the State, with approval from the State legislature. (H) Planning assistance and the administrative costs of complying with this section. (2) Limitation Not more than 3 percent of amounts received by the State under subsection (a)(2) may be used for the purposes described in paragraph (1)(H). (e) Administration Amounts made available under paragraphs (2) and (3) of subsection (a) shall— (1) be made available, without further appropriation, in accordance with this section; (2) remain available until expended; and (3) be in addition to any amounts appropriated under any other provision of law.

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.