
Real estate developers, energy companies, and federal agencies could soon see project construction times shrink, thanks to a bill that was just passed by the House of Representatives.
On Thursday, the House advanced the Standardizing Permitting and Expediting Economic Development (SPEED) Act. This bill aims to modernize the federal permitting process under the National Environmental Policy Act (NEPA), which requires government agencies to conduct an environmental review of proposed projects before they can be built.