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Code of Federal Regulations (Last Updated: May 6, 2024) |
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Title 30 - Mineral Resources |
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Chapter II - Bureau of Safety and Environmental Enforcement, Department of the Interior |
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SubChapter B - Offshore |
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Part 285 - [Reserved] |
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Subpart E - Payments and Financial Assurance Requirements |
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Revenue Sharing With States |
§ 285.541 - What is a qualified project for revenue sharing purposes?
Latest version.
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A qualified project for the purpose of revenue sharing with eligible coastal States is one authorized under subsection 8(p) of the OCS Lands Act, which includes acreage within the area extending 3 nautical miles seaward of State submerged lands. A qualified project is subject to revenue sharing with those States that are eligible for revenue sharing under § 285.542. The entire area within a lease or grant for the qualified project, excluding project easements, is considered the qualified project area.