LEGISLATIVE FISCAL OFFICE
Fiscal Note
Fiscal Note On: HB 300 HLS 24RS 432
Bill Text Version: ENROLLED
Opp. Chamb. Action:
Proposed Amd.:
Sub. Bill For.:
Date: May 31, 2024 5:41 PM Author: ORGERON
Dept./Agy.: CPRA/Department of Natural Resources
Subject: Includes alternative energy in the Coastal OCS dedication Analyst: Benjamin Vincent
COASTAL RESOURCES EN SEE FISC NOTE GF RV See Note Page 1 of 1
(Constitutional Amendment) Provides relative to the disposition of funds derived from alternative energy production in the
coastal area
Current law dedicates all federal revenue generated from the Outer Continental Shelf (OCS) from oil and gas activity to the
Coastal Protection and Restoration Fund and specifies permissible uses of monies from the fund.
Proposed law directs any federal revenue generated in the OCS by alternative energy to the same dedication as OCS mineral
revenue, which is the Coastal Protection and Restoration Fund. It is not clear whether any component of carbon
sequestration fits within this definition.
To be submitted to the electors at the statewide election to be held on November 5, 2024.
EXPENDITURES 2024-25 2025-26 2026-27 2027-28 2028-29 5 -YEAR TOTAL
State Gen. Fd. SEE BELOW $0 $0 $0 $0 $0
Agy. Self-Gen. $0 $0 $0 $0 $0 $0
Ded./Other $0 $0 $0 $0 $0 $0
Federal Funds $0 $0 $0 $0 $0 $0
Local Funds $0 $0 $0 $0 $0 $0
Annual Total $0 $0 $0 $0 $0
REVENUES 2024-25 2025-26 2026-27 2027-28 2028-29 5 -YEAR TOTAL
State Gen. Fd. SEE BELOW SEE BELOW SEE BELOW SEE BELOW SEE BELOW
Agy. Self-Gen. $0 $0 $0 $0 $0 $0
Ded./Other SEE BELOW SEE BELOW SEE BELOW SEE BELOW SEE BELOW
Federal Funds $0 $0 $0 $0 $0 $0
Local Funds $0 $0 $0 $0 $0 $0
Annual Total
EXPENDITURE EXPLANATION
There is no anticipated direct material effect on governmental expenditures as a result of this measure. The Department of
Energy and Natural Resources (DENR) reports a potential need for additional resources should alternative energy projects
increase. The bill directs some operational funds away from DENR and does not identify funding for any additional
administrative expenses.
The Secretary of State may incur minimal ballot processing costs associated with this measure. As a regular practice, the
Secretary of State typically budgets for up to 10 constitutional amendments and statewide propositions for the fall statewide
elections. To the extent the ballot includes more than 10 constitutional amendments and statewide propositions, the
Secretary of State may require additional SGF resources for the November 5, 2024, statewide election. Any expenditure
impact would be realized in FY 25.
REVENUE EXPLANATION
This bill seeks to dedicate any federal revenue received by the state from alternative energy in the Outer Continental Shelf
(OCS, which is 3 U.S. nautical miles offshore) to the Coastal Protection and Restoration Fund under the same dedication as
oil and gas revenue.
No current federal authorization exists to distribute alternative energy revenue to states, including any potential revenue
from the first offshore wind lease sale in federal waters of the Gulf of Mexico, which is effective as of November 2023 and
covers approximately 102,480 acres. The LFO cannot identify current revenue generated in this manner, though when any
prospective revenue agreements may be finalized, the LFO assumes the funds would flow to the CPRF instead of the SGF.
Senate Dual Referral Rules House
13.5.1 >= $100,000 Annual Fiscal Cost {S & H} 6.8(F)(1) >= $100,000 SGF Fiscal Cost {H & S}
Deborah Vivien
13.5.2 >= $500,000 Annual Tax or Fee 6.8(G) >= $500,000 Tax or Fee Increase
Change {S & H} or a Net Fee Decrease {S} Chief Economist