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.
About This Bill
Introduced
Latest Action · November 17, 2022
Placed on Senate Legislative Calendar under General Orders. Calendar No. 551.
Reinvesting In Shoreline Economies and Ecosystems Act of 2022 or the RISEE Act of 2022
This bill expands the amount of revenue generated from leases for energy development on federal land or submerged lands in the Outer Continental Shelf that is shared with certain states and coastal communities. For example, the bill dedicates a percentage of the revenue generated from offshore wind leases for coastal states. Currently, this revenue is deposited in the U.S. Treasury. In addition, the bill increases the amount of revenue generated from offshore oil and gas leases that is shared with states under the Gulf of Mexico Energy Security Act.
States must use the funding from the revenue for specified purposes, such as coastal restoration, conservation, or infrastructure.
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