The bill, HB 934, focuses on the dedication of revenue generated from carbon dioxide sequestration on state lands and water bottoms. It amends existing laws to remove exceptions related to the dedication of carbon dioxide storage revenue collected by the office of mineral resources on behalf of state departments or agencies. The bill also specifies that the dedication of these revenues does not authorize the breach of any conditions contained in acts of donation for state wildlife refuges, wildlife management areas, or public hunting grounds accepted by the state prior to August 1, 2024. Additionally, it allows parish governing authorities to tailor or restrict the use of dedicated funds to comply with the terms of such donations.

Key amendments include the removal of references to the Louisiana Economic Acceleration Program (LEAP) and the introduction of provisions that ensure compliance with donation conditions. The distribution of funds collected from carbon dioxide storage is outlined, with 30% allocated to parishes involved in the agreements and the remainder directed to the Louisiana Wildlife and Fisheries Conservation Fund. The bill aims to balance the interests of environmental conservation with the economic benefits of carbon dioxide storage initiatives.

Statutes affected:
HB934 Original: 30:149(B), 30:2(B)
HB934 Engrossed: 30:149(B), 30:2(B)
HB934 Reengrossed: 30:149(B), 30:2(B)
HB934 Enrolled: 30:149(B), 30:2(B)
Conference Committee Report, #5181, House Proposed, Senate Proposed:
Conference Committee Report, #5181, House Adopted, Senate Adopted: