How HR 2131 changes current law

Compared against current U.S. Code AI-generated reading aid — verify against the official bill.

The bill adds a requirement for compensatory payments to Gulf producing States and their coastal political subdivisions during the moratorium on new offshore oil and natural gas leases.

• 43 U.S.C. 1331 note

  (4) Payments to gulf producing states to compensate for reductions in other payments resulting from moratorium on new leases.--In addition to the other payments required by this subsection, during the effective period of the moratorium on new oil and natural gas leases in offshore waters under Executive Order 14008 of January 27, 2021, the Secretary shall pay to each Gulf producing State and each coastal political subdivision each fiscal year an amount equal to the difference between the amount of such other payments for the fiscal year to the State or subdivision, respectively, and the average annual amount of such other payments to the State or subdivision, respectively, for fiscal years after fiscal year 2017 and up to fiscal year 2020.

  This change establishes financial compensation for Gulf producing States and coastal political subdivisions affected by a leasing moratorium.