Last week, Senators Lisa Murkowski (R-AK) and Mary Landrieu (D-LA) introduced a bipartisan bill to direct up to 37.5 percent of revenue from offshore energy production to host coastal states. Under current law, interior states with oil, gas and coal production on public lands within their borders typically receive roughly half of the revenues collected by the federal government from energy producers. The bill would expand the current onshore oil and gas production revenue-sharing scheme to offshore fossil fuel and renewable energy projects to benefit coastal states. The measure, known as the Fixing America’s Inequities with Revenues (FAIR) Act, would automatically direct 27.5 percent of revenues produced offshore to most coastal states, with 25 percent of that amount distributed to the communities most impacted by energy development. States that establish mechanisms to support conservation or clean-energy research would be eligible for an additional 10 percent of such revenue. 

Link(s): Press Release