U.S. Senators Introduce Offshore Revenue Sharing Legislation

U.S. Senators Bill Cassidy, MD (LA)Lisa Murkowski (AK)Tim Scott (SC)Dan Sullivan (AK)Thom Tillis (NC), and David Vitter (LA) today announced the introduction of a bill (American Energy and Conservation Act of 2016) that among other things would allow Alaska to receive a share of federal revenue generated by offshore conventional and renewable energy leasing and development activity in the region. Sen. Murkowski (AK) said in part that “revenue sharing is one of my top legislative priorities because Alaskans deserve a fair share of the benefits and prosperity that accrue from the production of our vast offshore resources,” adding that the bill “will provide substantial dollars to our state and local governments.”  Sen. Sullivan (AK) said that revenue sharing authorized under the legislation “will provide much needed funding for infrastructure, public safety, and education in Alaska.”

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