H.R. 910 · 108th Congress
Fair Disbursement of Offshore Oil Revenue Act of 2003
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Never voted on. It didn't reach a floor vote before the 108th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
RohrabacherSponsorNo cosponsors.
Fair Disbursement of Offshore Oil Revenue Act of 2003 - Establishes the Coastal Communities Outer Continental Shelf Receipt Fund as an interest-bearing account in the Treasury.
What it does: CRS summary · Introduced in House · Feb 25, 2003
Instructs the Secretary of the Treasury to pay into the Fund all revenues attributable to an Outer Continental Shelf lease, any part of which is within 200 geographical miles of the coast line.
Directs the Secretary to pay each coastal State and its coastal counties, respectively, one-half of the revenues and any interest earned on them attributable to the State for the fiscal year most recently completed.
Preconditions such disposition of funds upon annual enactment by each coastal State and coastal county of the legislation necessary to provide State and local permits for the onshore facilities needed to support offshore oil or gas development or production in the pertinent adjacent area.
Declares that if a State or county fails to enact such legislation, the funds attributable to it shall not be disbursed, and the Secretary shall take that failure into consideration before offering any additional leases for sale in the offshore area adjacent to that State or county.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Fair Disbursement of Offshore Oil Revenue Act of 2003
Latest action (Feb 28, 2003): Executive Comment Requested from Interior.
Policy area: Energy · Origin: House · Introduced: Feb 25, 2003
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.