S Bill 620 Alaska Offshore Parity Act

Purpose and Summary

Chamber: Senate

Introduced date: 2023-03-02

The Alaska Offshore Parity Act, also known as Bill 118 s 620, is a piece of legislation currently being considered by the US Congress. The main goal of this bill is to provide the state of Alaska with equal treatment when it comes to offshore energy development. The bill aims to amend the Outer Continental Shelf Lands Act to ensure that Alaska receives the same revenue sharing benefits as other states that engage in offshore energy production. This would allow Alaska to receive a larger share of the revenue generated from offshore drilling activities in its waters. Supporters of the bill argue that Alaska has significant untapped energy resources off its coast, and that providing the state with equal revenue sharing benefits would incentivize further development of these resources. They also argue that this would help to boost the state's economy and create jobs in the region. Opponents of the bill, however, raise concerns about the potential environmental impact of increased offshore drilling in Alaska. They argue that the state's fragile ecosystems could be put at risk by expanded energy development, and that the revenue sharing benefits may not outweigh the potential costs to the environment. Overall, the Alaska Offshore Parity Act is a controversial piece of legislation that seeks to address the issue of revenue sharing in offshore energy development. Its fate in Congress remains uncertain as lawmakers continue to debate the potential benefits and drawbacks of the bill.

Recent Activity

Placed on Senate Legislative Calendar under General Orders. Calendar No. 578.

Alternative Names

Alaska Offshore Parity Act

Alaska Offshore Parity Act

A bill to provide for the distribution of certain outer Continental Shelf revenues to the State of Alaska, and for other purposes.

Alaska Offshore Parity Act

A bill to provide for the distribution of certain outer Continental Shelf revenues to the State of Alaska, and for other purposes.

Alaska Offshore Parity Act

Associated Legislation

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Policy Areas

Energy

Potential Impact

Sponsors and Supporters

Sen. Murkowski, Lisa [R-AK]

Sen. Murkowski, Lisa [R-AK]

Sen. Murkowski, Lisa [R-AK]

Cosponsors and Supporters

Sen. Sullivan, Dan [R-AK]

Committees and Subcommittees

Energy and Natural Resources Committee

Energy and Natural Resources Committee

Variations and Revisions

Alaska Offshore Parity Act

11/22/2024, 12:03 PM

Alaska Offshore Parity Act

This bill requires the Department of the Treasury to share more revenues derived from energy and mineral development in the Alaska Outer Continental Shelf (OCS) region with Alaska and its coastal political...

The Alaska Offshore Parity Act, also known as Bill 118 s 620, is a piece of legislation currently being considered by the US Congress. The main goal of this bill is to provide the state of Alaska with equal treatment when it comes to offshore energy ...
Congress
118

Number
S - 620

Introduced on
2023-03-02

# Amendments
0

Sponsors
+5

Cosponsors
+5

Variations and Revisions

3/2/2023

Status of Legislation

Bill Introduced
Introduced to House
House to Vote
Introduced to Senate
Senate to Vote

Purpose and Summary

Alaska Offshore Parity Act

This bill requires the Department of the Treasury to share more revenues derived from energy and mineral development in the Alaska Outer Continental Shelf (OCS) region with Alaska and its coastal political...

The Alaska Offshore Parity Act, also known as Bill 118 s 620, is a piece of legislation currently being considered by the US Congress. The main goal of this bill is to provide the state of Alaska with equal treatment when it comes to offshore energy ...
Alternative Names
Official Title as IntroducedA bill to provide for the distribution of certain outer Continental Shelf revenues to the State of Alaska, and for other purposes.

Policy Areas
Energy

Comments

Recent Activity

Latest Summary9/19/2023

Alaska Offshore Parity Act

This bill requires the Department of the Treasury to share more revenues derived from energy and mineral development in the Alaska Outer Continental Shelf (OCS) region with Alaska and its coastal political...


Latest Action11/21/2024
Placed on Senate Legislative Calendar under General Orders. Calendar No. 578.