S. 2130 would increase spending related to certain federal leases for energy resources on the Outer Continental Shelf (OCS) and in other areas. Specifically, the bill would:
Raise the statutory cap for spending receipts from OCS oil and gas leases collected in 2022 from $500 million to $650 million and eliminate the cap in 2023. By eliminating that cap, 50 percent of receipts would be available to be spent without further appropriation; 37.5 percent of those receipts would be allocated to states and 12.5 percent allocated for activities funded through the Land and Water Conservation Fund (LWCF).
Make available 37.5 percent of offsetting receipts from OCS wind leases to make payments to certain coastal states and 12.5 percent for grants and other activities authorized by the National Oceans and Coastal Security Act.
Increase the share of future proceeds paid to states from 49 percent to 50 percent for onshore mineral leases under the Mineral Leasing Act.
S. 2130 also would change how certain research and planning grants for coastal protection and restoration projects authorized by the National Oceans and Coastal Security Act are awarded. Under current law, all such grants are awarded competitively to coastal states and private entities; S. 2130 would require a share of the grant funding be awarded to coastal states by a formula established in the bill.