Senate Bill No. 63 aims to enhance the mitigation measures for wildlife and fisheries affected by future offshore wind projects. The bill mandates that by October 1, 2026, the Commissioner of Energy and Environmental Protection must adopt regulations that require offshore wind project proposals to implement increased mitigation strategies. These strategies include provisions for workforce development retraining for fishermen impacted by offshore wind operations, as well as contract commitments from selected bidders to contribute to an offshore wind project mitigation fund. This fund is intended to address ongoing adverse effects resulting from the development and operation of offshore wind facilities.

Additionally, the bill stipulates that selected bidders must make initial and recurring payments into the mitigation fund, which they are prohibited from administering. An independent oversight committee will be established to manage and distribute these funds, ensuring that payments are made for damages suffered by stakeholders and the environment during and after the operational phase of the projects. The bill does not anticipate any fiscal impact on the state or municipalities, as the Department of Energy and Environmental Protection is equipped to handle the regulatory requirements.