WASHINGTON, D.C. — A major legislative step forward was achieved this week as the Senate Committee on Energy and Natural Resources advanced the Reinvesting in Shoreline Economies & Ecosystems (RISEE) Act, spearheaded by U.S. Senator Bill Cassidy, M.D. (R-LA). The bill aims to significantly boost funding for Louisiana’s coastal restoration efforts by amending the Gulf of Mexico Energy Security Act (GOMESA) and increasing offshore energy revenue sharing.
If enacted, the RISEE Act would remove the current revenue sharing cap of $375 million, potentially funneling billions of additional dollars to Louisiana and other Gulf Coast states. The funds are crucial for efforts to combat coastal erosion and enhance flood control infrastructure, which are vital for the state’s economy and environment.
“A Win for Louisiana’s Future”
“We are one step closer to bringing hundreds of millions of additional dollars to Louisiana to rebuild our shoreline and support flood control structures while creating thousands of good-paying jobs,” said Cassidy. “The RISEE Act is good for our economy, our environment, and the nation. Let’s get this bill across the finish line.”
The bill not only benefits Louisiana but also supports coastal states investing in renewable offshore wind energy, with provisions ensuring these states receive a share of wind revenues for resiliency projects.
Key Provisions of the RISEE Act
- Revenue Sharing Cap Removal: Eliminates the $375 million cap on state revenue sharing, unlocking significant new funding for Louisiana and other Gulf Coast states.
- Expansion of State-side Conservation Funds: Lifts the Land & Water Conservation Fund’s state-side funding cap from $125 million.
- Offshore Wind Revenue Sharing: Allocates 37.5% of offshore wind revenues to adjacent states for coastal projects, with 12.5% supporting the National Oceans and Coastal Security Fund.
Potential Impact on Louisiana
Louisiana has constitutionally dedicated offshore energy revenues to conservation, restoration, and environmental projects aimed at preserving its rapidly eroding coastline. According to Cassidy’s office, Louisiana, Texas, Mississippi, and Alabama collectively missed out on approximately $216 million in offshore revenue sharing last year under current caps.
Funds from the RISEE Act could be used for a wide range of critical projects, including:
- Coastal restoration and hurricane protection infrastructure.
- Mitigation of damage to natural resources, including fisheries research.
- Development and implementation of marine and coastal conservation management plans.
Broad Bipartisan Support
The bill, co-sponsored by Senator Sheldon Whitehouse (D-RI), has garnered bipartisan backing. Whitehouse emphasized the importance of creating a level playing field for offshore wind energy while providing coastal states with the resources they need to invest in coastal resilience.
Looking Ahead
The RISEE Act now heads to the full Senate, where Cassidy and his co-sponsors hope to secure its passage before the end of the congressional session. If successful, this legislation promises to deliver transformative funding to Louisiana’s coastal communities, supporting both environmental sustainability and economic growth.
For more details on the RISEE Act, visit Senator Cassidy’s website.