Description:
H.R. 6665 would authorize the Department of the Interior (DOI) to auction leases for developing energy and mineral resources off the coast of certain U.S. territories and possessions, subject to certain conditions. In particular, the bill would direct DOI to study the potential for developing offshore wind resources within the territorial jurisdiction of American Samoa, Guam, the Northern Mariana Islands, Puerto Rico, and the U.S. Virgin Islands, and to offer leases in areas where such development is feasible. Under the bill, 37.5 percent of the income from such leases could be spent without further appropriation for payments to the affected jurisdictions. CBO estimates that implementing H.R. 6665 would reduce net direct spending by $14 million over the 2019-2028 period, primarily as a result of new leasing activity for offshore wind resources. In addition, CBO estimates that it would cost $3 million over the 2019-2023 period to complete the studies and planning activities required by the bill; any spending would be subject to the availability of appropriated funds. Because enacting H.R. 6665 would affect direct spending; therefore, pay-as-you-go procedures apply. The bill would not affect revenues. CBO estimates that enacting H.R. 6665 would not increase net direct spending or on-budget deficits in any of the four consecutive 10-year periods beginning in 2029. H.R. 6665 contains no intergovernmental or private-sector mandates as defined in the Unfunded Mandates Reform Act and would benefit U.S. territories through the sharing of royalties generated from offshore wind leases.
