The Fiscal Responsibility Act of 2023 Streamlines Environmental Review Under the National Environmental Policy Act and Provides for Accelerated Permitting of Energy Storage Projects
SUMMARY
On June 3, 2023, President Biden signed the Fiscal Responsibility Act (“FRA”) into law. The FRA suspends the $31.4 trillion debt ceiling until January 1, 2025, and provides, inter alia, for limits on discretionary spending over the next two years. The legislation also amends the procedures for environmental review under the National Environmental Policy Act of 1970 (“NEPA”) and allows for energy storage projects to be covered under Title 41 of the Fixing America’s Surface Transportation Act of 2015 (“FAST-41”) to improve the speed and efficiency of federal agency review of projects that are subject to NEPA review and eligible for FAST-41 permitting support.
