Reinvesting in Shoreline Economies and Ecosystems Act

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RISEE Act of 2023
Great Seal of the United States (obverse).svg
Other short titlesReinvesting In Shoreline Economies and Ecosystems Act of 2023
Long titleA bill to modify the disposition of certain outer Continental Shelf revenues and to open Federal financial sharing to heighten opportunities for renewable energy, and for other purposes.
Acronyms (colloquial)RISEE
Announced inthe 118th United States Congress
Legislative history
RISEE Act of 2023
Great Seal of the United States (obverse).svg
Other short titlesReinvesting In Shoreline Economies and Ecosystems Act of 2023
Long titleA bill to modify the disposition of certain outer Continental Shelf revenues and to open Federal financial sharing to heighten opportunities for renewable energy, and for other purposes.
Acronyms (colloquial)RISEE
Announced inthe 118th United States Congress
Legislative history

The Reinvesting In Shoreline Economies and Ecosystems (RISEE) Act of 2023, S. 373, is a bill in the United States Senate to share more federal revenue with states by amending the Gulf of Mexico Energy Security Act (GOMESA) and to dedicate revenue from offshore wind power in federal waters to state funds for coastal protection and restoration. [1]

Contents

The Act would send 37.5% of federal revenue from offshore wind leases and production to states within 75 miles of the offshore wind farms, incentivizing state and local governments to speed permitting and otherwise support wind development. [2]

History

Background

As oil and gas resources close to shore declined, drilling moved further offshore, into federal waters. Until the 2006 passage of the Gulf of Mexico Energy Security Act, with its revenue-sharing framework, Louisiana and other Gulf Coast states received none of the revenue in spite of local impacts from the industrial activity. [3] Louisiana's received $155.7 million in 2020 under GOMESA, but the states' share is capped at $375 million, a limit to be removed by RISEE. [4] [3] Revenue sharing would also be expanded to 38 coastal and Great Lakes states. The federal government received $4.37 billion in December 2022 from the sale of six wind leases offshore from New York and New Jersey; under RISEE, 37.5%, or $1.64 billion would have been shared with the states. [3]

Introduction

The RISEE Act had been previously introduced in the 117th United States Congress. It was advanced by the Senate Committee on Energy and Natural Resources in July 2022. [5] [6] [7] In December 2022, Cassidy and Senator John N. Kennedy (R‑LA) attempted but failed to attach RISEE to the year-end government spending package needed to avert a government shutdown. [4] [3]

Reintroduction

The Act was introduced by Senators Bill Cassidy (R‑LA) and Sheldon Whitehouse (D‑RI) and Representatives Randy Weber (R‑TX 14th), Lizzie Fletcher (D‑TX 07th), Nancy Mace (R‑SC 01st), Abigail Spanberger (D‑VA 07th), Don Davis (D‑NC 01st), and Anna Eshoo (D‑CA 16th) in February 2023. [1] [2]

Cassidy and Whitehouse courted House Speaker Mike Johnson and Majority Leader Steve Scalise, both Republicans from Louisiana, in March 2024 during an attempt to overcome opposition within the Democratic party. [8] Cassidy and Whitehouse planned to add the bill as an amendment to the Energy Permitting Reform Act of 2024 during markup in July 2024 but decided to advance the bill in a later markup due to committee leadership deciding to avoid any amendment that could affect spending levels. The bill would need a cost estimate from the Congressional Budget Office. [9]

In September 2024, Whitehouse filed the Act as an amendment to the defense authorization bill. [10]

The Committee on Energy and Natural Resources voted to advance the RISEE Act in November 2024. [11] The Act would include a cost to the federal government, due to which Cassidy was considering a number of pay-fors to pair with the Act, working with Whitehouse and Senate leadership to find a route to passage. [12] Cassidy suggested that he could attach RISEE to the must-pass spending bill. [4]

President-elect Trump, set to take office in 2025, pledged in May 2024 to stop offshore wind projects immediately upon assuming office, [13] making prospects for the wind industry uncertain overall. [14]

Reception

The bill received support from the American Association of Port Authorities, a trade association, as the construction of offshore wind would bring business to ports. [15] Some members of Congress oppose diverting federal revenue to the states, while coastal states stand to benefit. Louisiana would receive more than $100 billion annually from offshore energy for coastal restoration, and states such as Rhode Island, lacking offshore oil and gas fields and therefore not receiving fossil fuel subsidies, would begin to benefit from the revenues of wind power that can be developed off their shores. [4] Senator George Helmy (D‑NJ) co-sponsored the bill in September 2024, [16] bringing the total to 26 Senate cosponsors. [17] As of December 2024, the House bill had 46 cosponsors. [18]

In December 2022, 9 governors and 24 environmental organizations and trade groups had expressed support for RISEE. [3]

Citizens for Responsible Energy Solutions, the Coastal Conservation Association, the Environmental Defense Fund, and the National Ocean Industries Association published statements in support of the bill. [19] [20] [21] [22]

Policy provisions

The Act would send 37.5% of revenue from offshore wind leases and production outside state waters (6 nautical miles) to states within 75 miles of the offshore wind farms, incentivizing state and local governments to speed permitting and any other necessaries for wind development. [2] (Law currently requires all such revenue to be retained in the U.S. Treasury. [2] ) The revenue would be directed toward funds for several purposes: [23]

Furthermore, 12.5% of offshore wind revenue would be dedicated to the National Oceans and Coastal Security Fund, [1] which is administered by the National Oceanic and Atmospheric Administration and National Fish and Wildlife Foundation for infrastructure and ecosystem projects mitigating extreme weather impacts increasing due to climate change. [24] The fund gives money to states to grant for work regarding coastal erosion and sea level rise, coastal habitat restoration, and infrastructure improvements. [1]

The Act also amends the Gulf of Mexico Energy Security Act (GOMESA) by eliminating the cap on energy royalties sent to (shared with) Alabama, Louisiana, Mississippi, and Texas and eliminating the state-side funding cap on the Land and Water Conservation Fund. [2]

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References

  1. 1 2 3 4 "Cassidy, Whitehouse Reintroduce Bill to Strengthen Revenue Sharing Program" (Press release). February 9, 2024. Archived from the original on December 5, 2024. Retrieved December 10, 2024.
  2. 1 2 3 4 5 "Congresswoman Lizzie Fletcher Reintroduces Bipartisan Legislation To Strengthen Coastal Revenue Sharing Program" (Press release). February 9, 2024. Archived from the original on November 28, 2024. Retrieved December 10, 2024.
  3. 1 2 3 4 5 Ballard, Mark (December 11, 2022). "Billions in offshore royalties tied up in government spending fight". NOLA.com. Archived from the original on January 28, 2023. Retrieved December 10, 2024.
  4. 1 2 3 4 Ballard, Mark (November 19, 2024). "Millions of dollars are at stake for Louisiana and other Gulf states in this bill in Congress". NOLA.com. Archived from the original on November 26, 2024. Retrieved December 10, 2024.
  5. ↑ "Senate Energy Committee Advances Cassidy Bill to Send Louisiana Billions for Coastal Restoration" (Press release). July 21, 2022.
  6. ↑ S. 2130
  7. ↑ H.R. 9049
  8. ↑ Brugger, Kelsey (March 7, 2024). "Whitehouse, Cassidy court House leaders on offshore wind". E&E News by POLITICO. Archived from the original on April 22, 2024. Retrieved December 10, 2024.
  9. ↑ Vu, Nancy (July 31, 2024). "Daily on Energy: Permitting reform advances, RISEE Act scooplet, and oil rises on Middle East news - Washington Examiner". Archived from the original on August 12, 2024. Retrieved December 10, 2024.
  10. ↑ Sobczyk, Nick (September 17, 2024). "Scoop: Senate energy committee to mark up offshore wind bill". Axios. Retrieved December 10, 2024.
  11. ↑ "What They Are Saying: Support Grows for Cassidy Bill to Strengthen Gulf Revenue Sharing Program After Senate Committee Vote". U.S. Senator Bill Cassidy (Press release). Archived from the original on November 28, 2024. Retrieved December 10, 2024.
  12. ↑ Sobczyk, Nick (November 19, 2024). "Senate energy panel moves offshore wind bill". Axios. Retrieved December 10, 2024.
  13. ↑ Milman, Oliver (May 13, 2024). "Trump pledges to scrap offshore wind projects on 'day one' of presidency". The Guardian. ISSN   0261-3077. Archived from the original on May 31, 2024. Retrieved December 10, 2024.
  14. ↑ Fehrenbacher, Katie (November 7, 2024). "Momentum in the offshore wind sector could come to a screeching halt in the Trump era". Axios. Retrieved December 10, 2024.
  15. ↑ Parker, Barry. "The RISEE Act and implications for US ports and offshore". www.seatrade-maritime.com. New York. Archived from the original on September 18, 2024. Retrieved December 10, 2024.
  16. ↑ Edwards, Jay (September 27, 2024). "Senator Helmy co-sponsors bills to support offshore wind, invest in coastal resilience efforts". WRNJ Radio. Archived from the original on September 27, 2024. Retrieved December 10, 2024.
  17. ↑ Sen. Whitehouse, Sheldon [D-RI (November 21, 2024). "Cosponsors - S.373 - 118th Congress (2023-2024): RISEE Act of 2023". www.congress.gov. Archived from the original on September 10, 2024. Retrieved December 10, 2024.
  18. ↑ Rep. Fletcher, Lizzie [D-TX-7 (February 21, 2023). "Cosponsors - H.R.913 - 118th Congress (2023-2024): RISEE Act of 2023". www.congress.gov. Archived from the original on June 10, 2023. Retrieved December 10, 2024.{{cite web}}: CS1 maint: numeric names: authors list (link)
  19. ↑ Reams, Heather (February 9, 2023). "RISEE Act to Protect America's Coastal Communities". Citizens for Responsible Energy Solutions. Archived from the original on June 24, 2024. Retrieved December 10, 2024.
  20. ↑ Hickson, Kevin (April 26, 2023). "Reinvesting in Shoreline Economies and Ecosystems (RISEE) Act of 2023". Coastal Conservation Association. Retrieved December 10, 2024.
  21. ↑ "RISEE Act Would Direct Critical Funding to Protect Coastal Communities from Climate Threats". www.edf.org. July 20, 2022. Archived from the original on April 17, 2024. Retrieved December 10, 2024.
  22. ↑ Williams, Justin (July 21, 2022). "RISEE Act Expands Equity for Coastal Residents & Conservation Programs". NOIA. Archived from the original on September 24, 2023. Retrieved December 10, 2024.
  23. ↑ Sen. Whitehouse, Sheldon [D-RI (November 21, 2024). "Text - S.373 - 118th Congress (2023-2024): RISEE Act of 2023". www.congress.gov. Archived from the original on September 20, 2023. Retrieved December 10, 2024.
  24. ↑ "National Oceans and Coastal Security Fund". www.noaa.gov. National Oceanic and Atmospheric Administration. Archived from the original on December 4, 2024. Retrieved December 10, 2024.
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