S. 3146 · 110th Congress
Energy Needed Offshore Under Gas Hikes Act
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Never voted on. It didn't reach a floor vote before the 110th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
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Energy Needed Offshore Under Gas Hikes Act - Allows the governor of a state, during any period in which the price of regular gasoline is equal to or greater than $5, with the concurrence of the state legislature, to petition the Secretary of the Interior to make a new producing area of the state eligible for: (1) oil leasing, gas leasing, or both, as…
What it does: CRS summary · Introduced in Senate · Jun 18, 2008
Energy Needed Offshore Under Gas Hikes Act - Allows the governor of a state, during any period in which the price of regular gasoline is equal to or greater than $5, with the concurrence of the state legislature, to petition the Secretary of the Interior to make a new producing area of the state eligible for: (1) oil leasing, gas leasing, or both, as determined by the state in accordance with the Outer Continental Shelf Lands Act and the Mineral Leasing Act; or (2) natural gas leasing only.
Requires the Secretary of the Treasury to deposit 45% of all rentals, royalties, bonus bids, and other sums due and payable to the United States from leases for new producing areas (qualified revenues) in the outer Continental Shelf into the general fund of the Treasury. Requires 55% of qualified revenues to be deposited into a special account in the Treasury, from which the Secretary shall disburse: (1) 37.5% to eligible producing states for new producing areas; (2) 12.5% to provide assistance to states in accordance with the Land and Water Conservation Fund Act of 1965; and (3) 5% to states for historic offshore production distribution.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Energy Needed Offshore Under Gas Hikes Act
Latest action (Jun 18, 2008): Read twice and referred to the Committee on Energy and Natural Resources.
Policy area: Energy · Origin: Senate · Introduced: Jun 18, 2008
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.