Agreement reached on BP fine split

MOBILE, Ala. (WALA) - Congressional aides say they are "optimistic" that a compromise has been reached to split BP fines among states along the Gulf Coast, stemming from the Deepwater Horizon oil spill.

Alabama Rep. Jo Bonner, Florida Rep. Jeff Miller and others announced a news conference that will be held outside the U.S. Capitol Wednesday at 3 p.m., central time.

Bonner's office described the event as a discussion of, "the introduction of the RESTORE Act and their continued efforts to build momentum to secure BP Clean Water Act fines for coastal states".

The U.S. Senate has already passed its version of the Act, which calls for 80 percent of any fines collected from BP to be directed to Gulf Coast states for restoration.

Sources say the House version won't change that formula, but will allow individual states more flexibility to do what they want with what they get.