RISEE Act of 2023

The RISEE Act of 2023 establishes a National Oceans and Coastal Security Fund to support coastal conservation, infrastructure, and research through grants to states, tribes, and organizations. It creates a new revenue-sharing system for offshore wind projects, directing 37.5% of operating fees to eligible coastal states based on proximity to project sites. States receiving these funds must use them for coastal protection, habitat restoration, or related projects and submit annual reports detailing fund usage to the Department of Interior. The bill also updates reporting requirements for Gulf of Mexico energy revenue funds to ensure transparency about how states use these funds.