Economics: Revenue Sharing – Gulf of Mexico Energy Security Act of 2006
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 Content:
   Marshall Rose

 Pagemasters:
   OMM Web Team

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   Economics
 
Revenue Sharing – Gulf of Mexico Energy Security Act of 2006

The Gulf of Mexico Energy Security Act of 2006 (Pub. Law 109-432) (GOMESA) required MMS to amend the regulations on distribution and disbursement of royalties, rentals, and bonuses. The amendments specify the allocation and disbursement of revenues from certain leases on the Gulf of Mexico Outer Continental Shelf. The Final Rule (AD46) was published in the Federal Register on 12/23/08 (FR 73 78622), and sets forth the formula and methodology for calculating and allocating revenues to the States of Alabama, Louisiana, Mississippi, and Texas, their eligible political subdivisions, and the Land and Water Conservation Fund from the 181 Area in the Eastern Planning Area and 181 South Area in the Gulf of Mexico, for each of fiscal years 2007 through 2016. The process for allocating revenues after 2016 will be the subject of a future rule. The Secretary of the Interior will begin to disburse these revenues on or before March 31, 2009.

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GOMESA Allocations – Fiscal Year 2008

 

Revenue Sharing – Coastal Impact Assistance Program

The Energy Policy Act of 2005 (Public Law 109-58) Section 384 establishes the Coastal Impact Assistance Program (CIAP) which authorizes funds to be distributed to Outer Continental Shelf (OCS) oil and gas producing states to mitigate the impacts of OCS oil and gas activities.

Under the CIAP, the Secretary of the Interior is authorized to distribute to producing States and coastal political subdivisions $250 million for each of the fiscal years 2007 through 2010. This money will be shared among Alabama, Alaska, California, Louisiana, Mississippi, and Texas and will be allocated to each producing State and eligible coastal subdivision based upon allocation formulas prescribed by the Act.
 

bullet CIAP Allocations – Fiscal Years 2009 and 2010 (Coming soon)
bullet CIAP Allocations – Fiscal Years 2007 and 2008
bullet CIAP Technical Documentation of the Allocation Formula Methodology

Last Updated: 04/14/2009, 10:01 AM Central Time