Submitted by United States Senator Bill Cassidy of Louisiana
WASHINGTON (August 6, 2024) – The U.S. Senate Committee on Energy and Natural Resources will markup legislation by U.S. Senator Bill Cassidy, M.D. (R-LA) to improve and enhance offshore revenue sharing in September. The Washington Examiner broke the news that the Committee will include the Reinvesting in Shoreline Economies & Ecosystems (RISEE) Act in their next business meeting.
“A pair of senators is planning to advance a coastal infrastructure bill at a hearing next month,” wrote the Washington Examiner.
“The RISEE Act would direct revenue streams from offshore and onshore energy projects to states to use for coastal restoration and conservation,” continued the Washington Examiner.
Read the full article here.
Background
The RISEE Act would both amend the Gulf of Mexico Energy Security Act (GOMESA) and create a new dedicated stream of funding from future offshore wind development for coastal protection and resiliency. Analysis suggests Louisiana, Texas, Mississippi, and Alabama missed out on about $216 million in offshore revenue sharing that would have been dedicated to local resiliency projects within the last year alone.
The RISEE Act was considered and passed out of the Senate Energy and Natural Resources Committee last Congress. Learn more about growing support for Cassidy’s bill to strengthen the Gulf revenue sharing program.
