S.Amdt. 5377

SA 5377. Mr. CRAMER submitted an amendment intended to be proposed to
amendment SA 5194 proposed by Mr. Schumer to the bill H.R. 5376, to
provide for reconciliation pursuant to title II of S. Con. Res. 14;
which was ordered to lie on the table; as follows:

Strike section 50261 and insert the following:

SEC. 50261. OFFSHORE WIND ENERGY ROYALTY RATE.

Section 8(p)(2) of the Outer Continental Shelf Lands Act
(43 U.S.C. 1337(p)(2)) is amended--
(1) in subparagraph (A)--
(A) by striking ``(A) The Secretary'' and inserting the
following:
``(A) Royalties, fees, rentals, bonuses, or other
payments.--
``(i) In general.--Subject to clause (ii) and subparagraphs
(B) and (C), the Secretary''; and
(B) by adding at the end the following:
``(ii) Royalty rate for offshore wind-powered electric
generation projects.--In establishing the royalty rate for a
lease, easement, or right-of-way granted under paragraph
(1)(C) for a wind-powered electric generation project, the
Secretary shall establish the rate at not less than 12.5
percent of the gross proceeds from the sale of electricity
produced by the wind-powered electric generation project.'';
and
(2) in subparagraph (B)--
(A) by striking ``(B) The Secretary'' and inserting the
following:
``(B) Payments to certain states.--The Secretary''; and
(B) in the first sentence, by inserting ``(including
amounts received as royalties, as established under
subparagraph (A)(ii))'' after ``under this section''.
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