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RISEE Act of 2023

Source: Congress.gov  ·  4,762 words in original text
This bill changes how the federal government shares money from wind energy projects in ocean areas. It creates a fund to support coastal communities and ocean research. It also changes how money from oil and gas leases gets distributed to states near the coast. --- ##
- Coastal states (states with ocean shorelines) - Native American tribes - Local governments and regional ocean partnerships - Ocean and coastal research organizations - Universities and nonprofits working on ocean issues - Communities near the Gulf of Mexico - States receiving money from wind energy projects in federal ocean areas --- ##
- The federal government will put 12.5 percent of money from offshore wind projects into a National Oceans and Coastal Security Fund to pay for coastal protection, research, and ecosystem restoration programs (Sec. 2(g)) - States near offshore wind projects will receive 37.5 percent of wind energy revenues, distributed based on how close they are to the wind farm, and can only use this money for coastal protection, wildlife damage reduction, or approved conservation plans (Sec. 2(g)) - Coastal states will receive grants from the National Oceans and Coastal Security Fund based on equal distribution (70 percent), their tidal shoreline length (15 percent), and population density of coastal counties (15 percent) (Sec. 2(d)) - States receiving money from offshore wind projects must submit annual reports to the federal government describing how they spent the funds, or they will not receive money the following year (Sec. 2(g)) - The bill removes a limit on how much money the Gulf of Mexico can distribute to states, allowing distributions to continue through 2022 instead of ending in 2055 (Sec. 3(c)) --- ##
If this bill becomes law, money from offshore wind energy projects will be split three ways instead of going entirely to the federal Treasury. Coastal states will now receive a direct share of wind energy revenues. The National Oceans and Coastal Security Fund will receive guaranteed funding from wind projects. States will be required to report publicly how they use revenues from offshore wind projects. The administrative fee structure under the Mineral Leasing Act will be eliminated. --- ##
- **Tidal shoreline**: The length of tidal shoreline or Great Lake shoreline based on the most recent data from the National Oceanic and Atmospheric Administration's Office of Coast Survey (Sec. 2(a)) - **Covered offshore wind project**: A wind-powered electric generation project in a lease area on the outer Continental Shelf that is not located within areas already covered by existing revenue sharing rules (Sec. 2(g)) - **Eligible State**: A state with a point on its coastline located within 75 miles of the geographic center of a wind lease tract (Sec. 2(g)) - **Indian tribe**: Has the meaning given in section 4 of the Indian Self-Determination and Education Assistance Act (Sec. 2(a)) --- ##
Not specified in bill text
Important: This plain English summary was generated by AI and is provided for informational purposes only. It is not legal advice. Always consult the official bill text on Congress.gov or a qualified attorney for legal matters.