Alaska Outer Continental Shelf Lease Sale Act

This bill requires the Department of the Interior to conduct oil and gas lease sales in the Cook Inlet Planning Area, and in the portion of the Beaufort Planning Area located within three nautical miles of the seaward boundary of Alaska.

Oil and gas leases under the Outer Continental Shelf Lands Act shall have an initial 20-year lease period (extendable for an additional 20 years) if they are located in the portion of the Beaufort Planning Area or Chukchi Planning Area beyond three nautical miles of the seaward boundary of the State of Alaska.

The bill establishes, for FY2016-FY2026, a scheme for revenue allocation between the Treasury and the state of Alaska for specified purposes, including workforce development relating to oil and gas infrastructure and, for FY2027 and beyond, certain related activities of coastal political subdivisions.

Interior must also include in any leasing program at least three lease sales in each of the Beaufort Planning Area and the Chukchi Planning Area.

The North Slope Science Initiative under the Energy Policy Act of 2005 shall now include the Beaufort and Chukchi Seas.

Interior must enter into cooperative agreements with the Northwest Arctic Borough and the NANA Regional Corporation to coordinate efforts, share resources, and fund projects.