Fiscal Responsibility Act of 2023

This legislation makes several changes to existing laws, primarily in the areas of environmental policy and permitting. It includes provisions for a study on interregional transfer capability determination, expediting the completion of the Mountain Valley Pipeline, and increasing the debt limit temporarily. In terms of environmental policy, the bill updates the National Environmental Policy Act (NEPA) by adding new definitions and procedures. These changes aim to improve transparency and efficiency in federal agency decision-making processes. Specifically, the bill adds sections on permit streamlining for energy storage, expediting completion of the Mountain Valley Pipeline, and interregional transfer capability determination study. The legislation also makes significant changes to NEPA's procedural requirements. It introduces new thresholds for determining when an environmental impact statement is required, and establishes procedures for identifying and addressing potential impacts. The bill also amends existing provisions on categorical exclusions, environmental assessments, and findings of no significant impact. Furthermore, the bill includes a provision that updates the definition of "major federal action" under NEPA, specifically excluding certain types of non-federal actions from its scope. Additionally, it introduces new definitions for terms like "cooperating agency," "programmatic environmental document," and "special expertise." Overall, this legislation aims to streamline permitting processes and improve transparency in federal agency decision-making, particularly in the context of energy infrastructure projects. Key points: * Temporary extension of public debt limit * Changes to National Environmental Policy Act (NEPA) procedures * Updates to definitions for terms like "major federal action" and "cooperating agency" * Provisions for a study on interregional transfer capability determination * Expediting completion of the Mountain Valley Pipeline