The PREPARE Act of 2023 establishes a federal government framework for planning and responding to extreme weather threats. The bill creates an Interagency Council on Extreme Weather Resilience, Preparedness, and Risk Identification and Management, led by the Federal Emergency Management Agency Administrator and Deputy Director of the Office of Management and Budget, bringing together 27 federal agencies and expertise areas to develop government-wide goals and coordinate extreme weather preparation efforts. Each federal agency must submit comprehensive extreme weather plans to the Office of Management and Budget within one year of enactment and every two years thereafter, detailing how extreme weather risks affect their operations and what actions they will take to build resilience and manage these risks. The bill requires the Interagency Council to establish a public website providing accessible information, data, tools, and best practices for federal, state, local, tribal, and private sector decision-makers, conduct regional inventories and meetings to identify coordination opportunities, and submit annual progress reports to Congress on implementation and spending. The legislation does not specify dedicated funding amounts but requires the Office of Management and Budget to ensure agencies provide adequate resources to support the council's work and website development.