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Senate Committee on Energy and Natural ResourcesIntroducedMarch 20th, 2013
- senate Committees
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FAIR Act of 2013
A bill to establish a partnership between States that produce energy onshore and offshore for our country with the Federal Government.
Fixing America's Inequities with Revenues Act of 2013 or FAIR Act of 2013 - Amends the Outer Continental Shelf Lands Act to require the Secretary of the Treasury to deposit in the Treasury 37.5% of all revenues derived from all rentals, royalties, bonus bids, and other sums payable to the United States from energy development on the outer Continental Shelf (OCS) areas of coastal states (those within 200 nautical miles of a leased tract in the OCS which are not, however, in a Gulf producing state). Excludes from deposit under these terms any revenues generated from the leasing of lands within three miles of seaward boundaries of coastal states. Requires the Secretary of the Interior to disperse: (1) 27.5% of these revenues to coastal states and their political subdivisions; and (2) 10% of such revenues to coastal states that establish funds in their treasuries to support projects relating to alternative and renewable energy, energy research and development, energy efficiency, or conservation. Prescribes requirements for allocating such revenues to coastal states and their coastal subdivisions, with a special rule for Alaska. Limits the allocable share of each coastal state to the revenues collected from a leased tract located no more than 200 nautical miles from the coastline of the state. Requires the Secretary of the Treasury to disburse 50% of all revenues derived from all rentals, royalties, bonus bids, rights-of-way, and other amounts payable to the United States from the development of alternative and renewable onshore energy sources to the state within the boundaries of which the energy source is located. Amends the Gulf of Mexico Energy Security Act of 2006 by: (1) redefining the term "qualified outer Continental Shelf revenues," and (2) revising the cap on the amount of such qualified revenues that may be made available to Gulf producing states.