PACMESA

The Pacific Minerals Economic Security Act amends the Outer Continental Shelf Lands Act to regulate mineral leasing activities in waters adjacent to Guam, American Samoa, and the Northern Mariana Islands. The bill prohibits the government from reducing or waiving royalty payments for these leases and requires lessees to provide initial and supplemental financial bonds to cover potential environmental cleanup and decommissioning costs. Starting in fiscal year 2027, fifty percent of all leasing revenues will be distributed to the affected territories based on their proximity to the leased areas, with funds restricted for use in coastal restoration, infrastructure development, environmental mitigation, or debt reduction. Additionally, the Secretary of the Interior must conduct a study on environmental impact mitigation methods and provide immediate notice to territorial governors when new mining plans are submitted.