OWNER Act

The OWNER Act changes how revenue from offshore wind projects in the New York Bight Area (off New York and New Jersey) is shared. It requires 50% of "qualified revenue" (like lease payments) to be split between the federal general fund and a special account for states and coastal communities. Eligible states (within 75 nautical miles of projects) and coastal political subdivisions (within 100 nautical miles) receive funds based on proximity to projects, with a minimum 10% guarantee per state. Funds must be used for specific purposes like coastal protection, renewable energy workforce training, infrastructure, or environmental mitigation - prohibiting more than 3% for administrative costs.