§1219.412 — How will ONRR divide the qualified OCS revenues (Phase I)? For each of the fiscal years 2007 through 2016, the Secretary of the Treasury will deposit 50 percent of the qualified OCS revenues (Phase I) into a special U.S. Treasury account, from which ONRR will disburse 75 percent to the Gulf producing States and 25 percent to the Land and Water Conservation Fund (LWCF). Of the revenues disbursed to a Gulf producing State, we will disburse 20 percent directly to the CPSs within that State. Each Gulf producing State will receive at least 10 percent of the qualified OCS revenues (Phase I) available for allocation to the Gulf producing States each fiscal year. The following table summarizes the resulting revenue shares (adding to 100 percent):
Revenue Distribution of Qualified OCS Revenues Under GOMESA Phase I
| Recipient of qualified OCS revenues | Percentage of qualified OCS revenues |
|---|
| U.S. Treasury (General Fund) | 50 |
| Land and Water Conservation Fund | 12.5 |
| Gulf Producing States | 30 |
| Gulf Producing State Coastal Political Subdivisions | 7.5 |