S.2777: A bill to exempt State and county payments under the Gulf of Mexico Energy Security Act of 2006 from sequestration.

This bill amends the Balanced Budget and Emergency Deficit Control Act of 1985 to exempt from sequestration payments to states under provisions of the Gulf of Mexico Energy Security Act of 2006 that require certain revenues from oil and gas leases in the Gulf of Mexico to be disbursed to Gulf producing states (Alabama, Louisiana, Mississippi, and Texas) and coastal political subdivisions of the states. (Sequestration is a process of...

(Source: Library of Congress)