National Risk Management Act of 2023

S 824 establishes a formal national risk management cycle to protect critical infrastructure, directly affecting the Department of Homeland Security, Sector Risk Management Agencies, and critical infrastructure owners/operators. The bill requires the Secretary to create a recurring process for identifying and assessing cyber and physical threats to infrastructure vital to national security, economic stability, and public health. It mandates annual risk reports to Congress, a national resilience strategy prioritizing high-impact risks, and yearly congressional briefings on funding needs. These provisions aim to coordinate federal and private-sector efforts to address infrastructure vulnerabilities through structured assessments and strategic planning.