Shares seabed mining revenue with Pacific territories

Money paid for seabed mining leases near Guam, American Samoa and the Northern Mariana Islands would be split evenly between the U.S. Treasury and those territories.

• Half of lease payments would go to territories within 200 miles of the leased area
• Territories could spend it only on coastal restoration, infrastructure, environmental work or debt
• Companies would first have to post at least $100,000 in bonds for a lease
• The Interior Department would study ways to reduce environmental harm from seabed mining

In committee

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