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The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.
8/1/2006--Passed Senate without amendment. Gulf of Mexico Energy Security Act of 2006 - Instructs the Secretary of the Interior to offer the 181 Area and the 181 South Area for oil and gas leasing, notwithstanding their omission from the Outer Continental Shelf leasing program.
Subjects the following areas to a moratorium upon oil and gas leasing (or any related activity): (1) any area east of the Military Mission Line in the Gulf of Mexico; (2) any area in the Eastern Planning Area that is within 125 miles of the Florida coastline; or (3) specified areas within the Central Planning Area and within 100 miles of the Florida coastline.
Reserves to the United States the right to designate national defense areas on the Outer Continental Shelf.
Directs the Secretary to permit any person who has entered into an oil or gas lease with the Secretary in any area described in this Act, as of the date of enactment of this Act, to exchange the lease for a bonus or royalty credit that may only be used in the Gulf of Mexico.
Prescribes requirements for: (1) disposition of qualified Outer Continental Shelf revenues from the 181 Area, the 181 South Area, and the 2002-2007 planning areas of the Gulf of Mexico; (2) allocation among Gulf producing states and coastal political subdivisions; (3) historical lease sites; and (4) payments to coastal political subdivisions.
Sets forth the authorized uses of amounts received by Gulf producing states and coastal political subdivisions, including for certain environmental protection projects and activities.
Sets limitations upon the amount of distributed qualified Outer Continental Shelf Revenues.