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S. 2130: RISEE Act of 2021

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The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress, and was published on Jun 17, 2021.

Reinvesting In Shoreline Economies and Ecosystems Act of 2021 or the RISEE Act of 2021

This bill increases the percentage of revenue generated from offshore energy projects that is shared with adjacent coastal states. 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.

Coastal states must use the funding from the revenue for specified purposes, such as coastal restoration, conservation, or infrastructure.