RISEE Act of 2023

Reinvesting In Shoreline Economies and Ecosystems Act of 2023 or the RISEE Act of 2023

This bill increases revenue streams provided to states from offshore wind projects, offshore oil and gas leases, and onshore energy and mineral resources. States must use the revenue for specified purposes, such as coastal restoration, conservation, or infrastructure.

Specifically, the bill requires revenues generated from offshore wind projects carried out under a lease entered into on or after January 1, 2022, to be deposited into accounts for the U.S. Treasury, the National Oceans and Coastal Security Fund, and adjacent coastal states. Currently, this revenue is deposited in the U.S. Treasury. The Department of the Interior must disburse the revenue to a state in an amount that is based on a formula that is inversely proportional to a state's distance from the offshore wind site.

In addition, the bill removes the cap on the amount of revenue generated from offshore oil and gas leases that may be shared with states under the Gulf of Mexico Energy Security Act of 2006.

It also eliminates a fee under the Mineral Leasing Act that Interior currently collects to administer the onshore revenue sharing program.

The RISEE Act of 2023, also known as Bill 118 s 373, is a piece of legislation introduced in the US Congress with the aim of addressing issues related to education and workforce development. The main goal of the bill is to provide support and resources to individuals seeking to improve their skills and education in order to better compete in the modern workforce.

The RISEE Act proposes several key provisions, including the establishment of a grant program to fund innovative education and training programs that focus on high-demand industries. These grants would be awarded to eligible entities, such as community colleges, workforce development boards, and non-profit organizations, to help them develop and implement programs that align with the needs of local employers.

Additionally, the bill seeks to expand access to apprenticeship programs by providing funding for outreach and recruitment efforts, as well as support services for participants. It also includes provisions to improve data collection and reporting on the outcomes of these programs, in order to better assess their effectiveness and make informed decisions about future investments. Overall, the RISEE Act of 2023 aims to support individuals in gaining the skills and education needed to succeed in today's rapidly changing economy. By investing in innovative education and training programs, the bill seeks to help individuals secure stable and well-paying jobs, while also meeting the needs of employers in high-demand industries.