Pacific Seabed Revenue Sharing

Full Title:
To amend the Outer Continental Shelf Lands Act to enhance the economic security of Pacific territories adjacent to seabed mining through revenue sharing, and for other purposes.

Summary#

This bill would amend the Outer Continental Shelf Lands Act to provide revenue sharing from seabed mining to U.S. Pacific territories that are adjacent to seabed mining activity. The stated aim is to enhance the economic security of those Pacific territories. The bill was introduced in the House by Kimberlyn King-Hinds and was referred to the House Committee on Natural Resources. No full text or detailed provisions are publicly available from the provided information.

What it means for you#

  • If you live in a Pacific territory near seabed mining, the bill aims to direct some seabed-mining revenues to those territories to support their economies. Exact amounts, eligibility rules, and timing are not publicly available.
  • If you do not live in those territories, specific effects on federal programs, taxes, or other communities are not publicly available.

Expenses#

No publicly available information on projected costs, revenue amounts, budgetary impacts, or how funds would be distributed.

Proponents' View#

Proponents say the bill would help improve the economic security of Pacific territories by sharing revenues from nearby seabed mining activity with those territories.

Opponents' View#

No publicly available information on opposition arguments or concerns.