(STATEN ISLAND/BROOKLYN, NY) – Congresswoman Nicole Malliotakis (NY-11) today introduced the Offshore Wind for Northeastern Energy Revenue (OWNER) Act, legislation that would establish an offshore wind revenue-sharing model between the federal government and states adjacent to offshore wind farms.
Unlike other forms of energy that have established models for shared royalties with adjacent states and conservation programs, current law requires all offshore wind revenues to be returned to the U.S. Treasury.
“In honor of Earth Day, I’m proud to introduce legislation that not only returns revenue to New York State but gives counties like Richmond and Kings the revenue stream to invest in coastal protection, hurricane preparedness, and infrastructure,” said Congresswoman Malliotakis. “With New York Bight being leased right off our shores, my legislation would require a large share of the revenue the site generates to be returned to our state to advance these conservation efforts and protective measures, STEM education, and create clean-energy jobs right here in our community. To achieve energy independence we need diversification, and my legislation ensures communities like ours benefit both environmentally and economically from off-shore energy sources.”
Specifically, the OWNER Act would:
- Send 50 percent of offshore wind revenue to adjacent states, based on a formula developed by the Secretary of Interior inversely proportional to the distance from the wind farms;
- 25 percent of the state revenue will be allocated to coastal counties dependent on the distance from the wind farm.
- Retroactively disburse bonus bids from the offshore wind lease sales that have already occurred.
- Allow state funds to be used for coastal protection, including conservation, coastal restoration, hurricane protection, and infrastructure directly affected by coastal wetland losses; workforce training, including for employment in the renewable energy sector and related industries; infrastructure to support renewable energy development and transmission, including the transmission of offshore wind energy; STEM education; or reduction of carbon emissions and improvement of air quality.
- Allow state funds to also be used for the mitigation of damage to fish, wildlife, or natural resources and the impact of outer Continental Shelf activities through the funding of onshore infrastructure projects or planning assistance and administrative costs.
- Protect the state revenues from sequestration.
To learn more about the OWNER Act, click HERE.
Banner Image: Wind turbines on the shore. Image Credit – Rabih Shasha