This bill amends existing Louisiana law regarding the allocation and use of federal revenues generated from energy production in the Outer Continental Shelf, specifically focusing on alternative and renewable energy sources. Key amendments include the expansion of eligible energy production types to include wind, solar, tidal, wave, and geothermal energy, alongside traditional oil and gas activities. The bill stipulates that a portion of these revenues must be deposited into the Coastal Protection and Restoration Fund and outlines specific restrictions on how these funds can be utilized, particularly emphasizing their use for integrated coastal protection, including hurricane protection and infrastructure impacted by coastal wetlands losses.

Additionally, the bill introduces new provisions for revenues generated from alternative energy production on state lands or waterbottoms in coastal areas. These revenues are also required to be deposited into the Coastal Protection and Restoration Fund and can only be used for integrated coastal protection purposes. The bill sets a cap of ten percent on the amount of these revenues that can be allocated for infrastructure directly affected by coastal wetlands losses. The provisions of the bill will take effect upon the governor's signature or, if not signed, after the designated period for bills to become law without signature.

Statutes affected:
HB305 Original: 49:4(E)(1)
HB305 Engrossed: 49:4(E)(1)
HB305 Enrolled: 49:4(E)(1)
HB305 Act 684: 49:4(E)(1)