November 27, 2024 — The U.S. Senate Committee on Energy and Natural Resources has approved a bill that would take money from offshore energy projects and redistribute it to adjacent states for coastal restoration, infrastructure, and fisheries research.
First introduced in 2021, the Reinvesting in Shoreline Economies & Ecosystems (RISEE) Act would create a new offshore wind revenue-sharing model, requiring offshore energy projects to share 37.5 percent of revenue with adjacent states. Those states can spend that money to support coastal restoration, invest in hurricane protection, improve infrastructure, or dedicate it to fisheries science and research.
The legislation was passed out of the Senate Committee on Energy and Natural Resources in 2022, but never received a vote from the full Senate.