PACMESA

This bill changes federal law on leases for seabed mining in ocean areas next to Guam, American Samoa, and the Northern Mariana Islands. It bars the Interior Secretary from reducing or waiving royalties and other payments on these leases and requires lessees to post a surety bond of at least $100,000, plus an extra bond before production is approved. Starting in fiscal year 2027, half of the lease revenue would go to the U.S. Treasury and half would go to nearby territories, which must spend it on coastal restoration, infrastructure, environmental mitigation, or fiscal stabilization and debt reduction. The bill also requires a study on ways to reduce the environmental impacts of seabed mining and requires that territorial governors be notified of mining plans and invited to comment.

Full text and official record on Congress.gov

Sponsors

• Kimberlyn King-Hinds Republican sponsor
• 0 cosponsors