Alaska Offshore Parity Act

This bill directs how revenues from Alaska's offshore oil and gas leases are distributed. Starting in 2024, 30% of "qualified revenues" (from energy development on the Alaska outer Continental Shelf) goes to the State of Alaska, 7.5% to coastal political subdivisions (like counties or municipalities near lease areas), and 12.5% to a national ocean fund. The state must use its share for coastal protection, infrastructure, climate adaptation, or education projects, while coastal communities receive funds based on proximity to lease sites. All distributions are automatic, require annual reporting, and do not change existing lease terms or require federal approval of specific projects.