Illustration: Annelise Capossela/Axios
The Senate Energy and Natural Resources Committee plans to move legislation on offshore wind revenue sharing next week, Axios has learned.
Why it matters: The markup on the RISEE Act is a key step toward its potential inclusion in a year-end legislative package.
Driving the news: Sen. Bill Cassidy, the primary GOP cosponsor, told Axios the markup is "great progress."
- "I think it's good for the federal taxpayer, and I'm glad we're getting a markup," Cassidy said.
- The bill would set up a system to share offshore wind royalty revenue with states (it currently goes to the Treasury) and send a portion of it to coastal restoration and conservation.
- It would also lift the state revenue sharing cap for oil and gas leasing.
Between the lines: Sen. Sheldon Whitehouse, the lead Dem on the bill, has filed RISEE as an amendment to the defense authorization bill, but it may be difficult to get it included in a manager's package of amendments.
- That's in part because it could entail big costs for the federal government.
- "The two determinations that need to made are, is an offset truly necessary? And if it is, what should it be?" Whitehouse told Axios.
- "Both of those questions are answered at the leadership level, so all I can do is keep moving the checkers forward."
What we're watching: There will likely be other legislation on the agenda, possibly from senators who had been angling to get their own proposals in the Manchin-Barrasso permitting bill.
- Sen. Lisa Murkowski told Axios she is also hoping the committee will take up her Alaska Offshore Parity Act during next week's markup.
- "It's one of the handful of bills that we've asked the the chair and the ranking member to consider," she said.
