Providing Recovery Opportunities & Mitigating Industry’s Shifting Economics (PROMISE) Act

Providing Recovery Opportunities & Mitigating Industry's Shifting Economics (PROMISE) Act

This bill addresses providing resources to communities affected by the closure of a federally-owned electric generating station.

Among other things, the bill

• authorizes the Department of the Interior to conduct land reuse studies in connection with the closure of an electric generating station to determine the next best use of the property;
• provides for a demonstration project to assist dislocated workers;
• allows Interior to provide annual payments to a state, tribal, or local government for loss of revenues due to the closing of an electric generating facility; and
• establishes a Significantly Impacted Federal Community Economic Adjustment Program to assist substantially and seriously affected communities, businesses, and workers from the effects of energy infrastructure closures.