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06.17.21

Monthly bill results in earnings sharing from offshore wind, funds coastal resiliency

WASHINGTON – U.S. Senators Bill Cassidy, M.D. (R-LA) and Sheldon Whitehouse (D-RI) these days released the Reinvesting in Shoreline Economies & Ecosystems (RISEE) Act. The RISEE Act would both amend the Gulf of Mexico Electrical power Safety Act (GOMESA) and build a new focused stream of funding from long term offshore wind growth for coastal security and resiliency. This will make it possible for for additional equitable source sharing concerning states, the federal govt and conservation courses. Senators Cindy Hyde-Smith (R-MS), Chris Coons (D-DE), Tim Kaine (D-VA), Brian Schatz (D-Hello), Angus King (I-ME), Chris Van Hollen (D-MD), Jeanne Shaheen (D-NH), and Roger Wicker (R-MS) have signed on as authentic co-sponsors.

“Louisiana has figured out to use cash from offshore energy manufacturing to rebuild our coastline and protect our communities. This invoice usually takes the classes that Louisiana has figured out and provides much more funding. This helps Louisiana and will also assistance other coastal states as they copy what Louisiana is now executing,” explained Dr. Cassidy.

“With local climate adjust bearing down on us, coastal states like Rhode Island require vastly additional means to safeguard vulnerable properties and organizations from climbing seas and other ever more urgent threats,” explained Senator Whitehouse. “Our monthly bill will permit states to get a share of federal revenues from the escalating offshore wind industry to make people substantially-wanted investments.”

Gulf of Mexico strength royalties are shared by 4 Gulf power manufacturing states (Alabama, Louisiana, Mississippi, and Texas), conservation courses, and the U.S. Treasury.

The monthly bill amends GOMESA by:

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  • Eradicating the point out income sharing cap, currently at $375 million.
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  • Expanding the sum of GOMESA revenues shared with states from 37.5% to 50%.
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  • Lifting the Land & Drinking water Conservation Fund’s state side funding cap of $125 million.
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  • Incorporating the National Oceans and Coastal Stability Fund as a fourth GOMESA equity (12.5%).
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  • Producing oil and gas leases from 2000-2006 suitable for future GOMESA payments to Gulf coast states and the National Oceans and Coastal Stability Fund. Now, only leases from 2007 to existing are suitable for GOMESA payments. EIA reviews 11 new oil and gasoline fields in the Gulf of Mexico will lead to the all round expansion in U.S. output are GOMESA qualified under existing law. One more 8 would also qualify under this proposed improve.
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  • Defending GOMESA revenues from sequestration.
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Louisiana constitutionally dedicates revenues from offshore electricity generation to pay for conservation, restoration, and environmental jobs to maintain and restore its eroding shoreline.

Present legislation requires all revenues produced from offshore wind leases and creation outside of point out waters be deposited in the U.S. Treasury. The RISEE Act sends 50% of offshore wind earnings to adjacent states where offshore wind farms are designed. The point out share is dependent on a formulation formulated by the Secretary of Inside to make certain states are getting revenues from wind power enhancement off their coasts. By sharing offshore wind revenues with close by states, the RISEE Act will supply spending plan incentives for condition and area governments to aid successful siting processes, balancing the requires of distinct ocean buyers and having turbines up and working.

The condition funds can be used:

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  • For coastal restoration, hurricane safety, or infrastructure
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  • To mitigate injury to fish, wildlife, or other organic resources, which include through fisheries science and research and
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  • To put into practice a marine, coastal, or conservation management program.
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In addition, 37.5% of offshore wind revenues would serve as a additional devoted funding supply for the Nationwide Oceans and Coastal Protection Fund. This Fund consists of dollars to States dependent on a method and also supplies aggressive grants to coastal and Fantastic Lakes communities to answer to coastal erosion and sea level rise, restore coastal habitat, and make enhancements to coastal infrastructure.

In Louisiana, supporters contain:

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  • Residence Speaker Professional Tempore Tanner Maggee
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  • State Senator Bret Allain
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  • Terrebonne Parish President Gordy Dove
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  • Property Appropriations Chair Zee Zeringue
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  • Condition Consultant Ryan Bourriaque
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  • Northsore Legislative Delegation
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  • St. Tammany Parish President Jaclyn Hotard
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  • Cameron Parish Plan Jury President Scott Trahan
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  • Lafourche Parish President Archie Chaisson
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  • Larger New Orleans Expressway Commission
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  • St. Tammany Parish Advancement District
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  • LA-1 Coalition
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  • Bayou Industrial Team
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  • St. Tammany Parish Government
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  • St. Tammany Chamber of Commerce
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  • Jefferson Parish Chamber of Commerce
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  • Association of Levee Boards of Louisiana
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  • RESTORE or RETREAT
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  • Morganza Action Coaltion
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  • Nicholls Point out University
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  • North Lafourche Levee District
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  • GNO Inc
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  • Iberia Parish Governemnt
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  • River Region Chamber of Commerce
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  • Cameron Parish Port, Haror and Terminal District
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  • Morgan Town Harbor and Terminal District
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  • Lake Charles Harbor and Termianl District
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  • Plaquemines Association of Small business and Field
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  • St. Bernard Parish Govenrment
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  • Better Lafourche Port Commission
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  • Parishes of Presidents of Louisisan Assocation
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  • Parishes Advocating for Coastal Stamina
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  • South Central Industrial Association
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  • Coaltion to Restore Coastal Louisiana
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  • Port Association of Louisiana
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  • Assumption Parish Law enforcement Jury
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  • Louisiana Coastal Defense and Restoration Authority
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  • Chenier Plain Coastal Protection and Restoration Authoirty
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  • Coastbuilders Coaltion
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  • Restore the Mississippi River Delta Coalition
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  • Bayou Lafourche Refreshing H2o District
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  • Lafourche Chamber of Commerce
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  • Ponchartrain Conservancy
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The RISEE Act is supported by the Congressional Sportsmen’s Foundation, Environmental Defense Fund, National Audubon Society, American Sportfishing Association, Citizens for Accountable Energy Methods, Ørsted, American Cleanse Power Affiliation, Nationwide Wildlife Federation, Nationwide Marine Manufacturers Associations, Coastal States Group, Theodore Roosevelt Conservation Partnership, American Shore & Beach Preservation Affiliation, National Ocean Coverage Committee, Rely on for General public Land, The Character Conservancy, City Parks Alliance, National Recreation and Park Affiliation, and Rhode Island Department of Environmental Administration.

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