arrow_back Back to App

Sharing Offshore Wind Revenue for Coastal Protection and Ecosystem Investment.

This Act modifies how federal revenues from offshore energy, particularly new wind projects, are distributed. A significant portion (37.5%) of offshore wind revenue will now go directly to eligible coastal states near the projects, while 12.5% funds the National Oceans and Coastal Security Fund. These funds must be used for coastal protection, ecosystem restoration, hurricane resilience, and infrastructure, directly benefiting the safety and environment of shoreline communities.
Key points
Coastal states near offshore wind projects will receive 37.5% of federal revenues from those projects for coastal protection and infrastructure.
The annual cap on oil and gas revenue sharing for Gulf of Mexico states (GOMESA) is eliminated, potentially increasing local funding for environmental and infrastructure projects.
The National Oceans and Coastal Security Fund receives 12.5% of offshore wind revenues to boost funding for scientific research and coastal resilience grants.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 118_S_373
Sponsor: Sen. Whitehouse, Sheldon [D-RI]
Process start date: 2023-02-09
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-flash-latest
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

RISEE Act of 2023

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_373.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2023-02-09.

What are the main provisions?

Key points include:

  • Coastal states near offshore wind projects will receive 37.5% of federal revenues from those projects for coastal protection and infrastructure.
  • The annual cap on oil and gas revenue sharing for Gulf of Mexico states (GOMESA) is eliminated, potentially increasing local funding for environmental and infrastructure projects.
  • The National Oceans and Coastal Security Fund receives 12.5% of offshore wind revenues to boost funding for scientific research and coastal resilience grants.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Whitehouse, Sheldon [D-RI].

What is the latest detailed status?

The latest detailed status is: Placed on Senate Legislative Calendar under General Orders. Calendar No. 576.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-26.

CATEGORIES

Environment Public Investments Economy