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WITH HYDE-SMITH FIX, ENERGY COMMITTEE APPROVES GULF OF MEXICO REVENUE SHARING LEGISLATION
Miss. Senator Now Agrees to Cosponsor COASTAL Act to Increase Federal Offshore Revenue Payments to Mississippi
VIDEO: Hyde-Smith Discusses Amendment to Improve COASTAL Act.
WASHINGTON, D.C. – U.S. Senator Cindy Hyde-Smith (R-Miss.) today voted to send an important Gulf of Mexico revenue sharing bill to the full Senate, but only after the measure included her amendment to prohibit use of funding for noncoastal projects that could harm the Mississippi Gulf Coast.
Hyde-Smith serves on the Senate Energy and Natural Resources Committee that approved the Conservation of America’s Shoreline Terrain and Aquatic Life Act (COASTAL Act, S.2418). Among other things, the bill would increase revenue sharing from offshore energy production to 50 percent from 37 percent for Mississippi and three other Gulf Coast states.
“It is appropriate to allow the use of offshore energy revenues for coastal conservation, restoration, and hurricane protection projects that will improve the Gulf Coast. This revenue source should not be used for inland projects, especially if those projects could compromise the health and wellbeing of the Mississippi coast,” Hyde-Smith said.
“I’m pleased the committee accepted my amendment to clarify that point. With that change, I am ready to cosponsor and fully support enactment of this bill. It will give Mississippi additional resources to improve our beautiful coast,” she said.
S.2418, approved 12-8, would amend the Gulf of Mexico Energy Security Act of 2006 (GOMESA), which created a revenue sharing program for Mississippi, Louisiana, Alabama, and Texas—the Gulf Coast states that embrace offshore oil and gas production.
The Hyde-Smith amendment, accepted by voice vote, struck overly broad language that would have allowed states to use GOMESA revenues for any other federally authorized project, even those far from the coast, which might be labelled ecosystem restoration.
Increasing the revenue share for energy-producing Gulf Coast states to 50 percent would put them on par with inland states with energy production on federal lands. The COASTAL Act would also eliminate the annual $500 million cap on GOMESA funding for states.
