# Plain Language Summary: National Risk Management Act of 2023

This bill creates a new system for the federal government to identify and manage risks to America's critical infrastructure—the essential systems and services we all depend on, like power grids, water systems, hospitals, transportation networks, and financial institutions. Right now, there's no coordinated national process for assessing these risks across all sectors. This bill fixes that by requiring the Secretary of Homeland Security to establish a regular, organized way to evaluate threats to these vital systems, considering both cyberattacks and physical dangers.

Here's how it would work in practice: The Homeland Security Department would gather information from various government agencies responsible for different industries (like the Department of Energy for power, the Department of Transportation for roads and airports), talk to private companies that actually run these critical systems, and consult with the White House and other key officials. They'd assess what threats exist, how likely they are to happen, what vulnerabilities could be exploited, and what the damage would be if something went wrong. Within six months, they'd publish their procedures publicly so everyone knows how this process works. Then, within a year, they'd report their findings to Congress and the President.

Once the risks are identified, the President would have one year to create a national strategy addressing those risks. This strategy would prioritize the biggest threats, outline what the government plans to do about them, identify which agencies are responsible for each action, and explain how much money would be needed. The bill also requires the Homeland Security Department to brief Congress every year on progress and funding needs. Essentially, this bill creates accountability and transparency around how America protects its most critical infrastructure from both digital and physical threats.

National Risk Management Act of 2023

Gallagher, Mike

National Risk Management Act of 2023 This bill requires the Cybersecurity and Infrastructure Security Agency of the Department of Homeland Security (DHS) to establish a recurring process to identify and assess risks to critical infrastructure and requires the President to deliver to Congress a national critical infrastructure resilience strategy designed to address the risks identified. The process must include elements to <ul> <li>collect relevant information from Sector Risk Management Agencies relating to the threats, vulnerabilities, and consequences related to the particular sectors of such agencies;</li> <li>allow critical infrastructure owners and operators to submit relevant information to DHS for consideration; and</li> <li>outline how DHS will solicit input from other federal departments and agencies.</li> </ul> DHS must brief the Senate and House homeland security committees on (1) the national risk management process activities undertaken pursuant to the strategy, and (2) the amounts and timeline for funding that DHS has determined would be necessary to address risks of cybersecurity threats and physical threats and successfully execute the full range of activities proposed by the strategy.