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H.R. 1014, Offshore Wind for Territories Act (CBO Report for Congress)

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Congress 116th
Date Requested May 1, 2019
Requested By House Committee on Natural Resources
Date Sent May 28, 2019
Description:
The bill would authorize Auctions of leases for wind and mineral development off the coast of certain U.S. territories and possessions Spending of a portion of the income for payments to those jurisdictions (without further appropriation) and for activities administered by the Coastal Reef Conservation Fund (subject to appropriation) Spending to conduct auctions and study such offshore wind resources, subject to appropriation   Estimated budgetary effects would primarily stem from increasing Collection of offsetting receipts from offshore energy and mineral leases Spending subject to appropriation for administrative expenses related to new leasing activities and for the Coastal Reef Conservation Fund   Areas of significant uncertainty include The technical and economic feasibility of developing offshore wind and mineral resources in the affected areas The amounts companies would be willing to pay to for leases to develop offshore wind resources The timing of auctions

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