Us Congress House Bill HB913

Us Congress 2023-2024 Regular Session

• Introduced: 2/9/23
• Refer: 2/9/23
• Refer: 2/21/23

Caption

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

Impact

One notable impact of HB 913 is the establishment of a National Oceans and Coastal Security Fund. This fund is intended to aid in financing various projects that enhance coastal protection, support sustainable ocean management, and facilitate resilient community infrastructure. The bill sets forth a structured approach to funding allocation among coastal states, wherein funds would be distributed based on various factors, including the ratio of tidal shoreline and coastal population density, thereby ensuring a more equitable financial distribution tailored to state-specific needs.

Summary

House Bill 913, titled the Reinvesting In Shoreline Economies and Ecosystems Act of 2023, aims to modify the allocation and disposition of revenues generated from certain activities related to the outer Continental Shelf. This legislation seeks to enhance federal financial sharing to optimize opportunities for renewable energy projects and ensure coastal and oceanic ecosystem resiliency. The bill proposes significant amendments to existing laws to provide more effective management of offshore revenue streams aimed at supporting coastal protection initiatives and restoring ecosystem health.

Contention

The bill may face contention regarding its funding and management structures. While proponents argue that the enhanced federal support for coastal and ocean management is essential for addressing the growing impacts of climate change and resource depletion, critics might raise concerns over the potential for inefficient fund utilization or the adequacy of oversight regarding project funding. Additionally, opposition may center around how funds are allocated and whether they sufficiently prioritize the most critical environmental initiatives versus other interests.