This bill amends Louisiana's Revised Statutes concerning oilfield site restoration by transferring the administration of the Oilfield Site Restoration Fund from the Oilfield Site Restoration Commission to the Natural Resources Trust Authority. The commission is repealed, and its functions are now under the trust authority, which will operate with guidance from the State Mineral and Energy Board. New definitions are introduced, including "Trust authority," and the bill outlines the authority's responsibilities, such as approving restoration priorities and managing financial agreements. Additionally, the bill increases restoration fees and establishes guidelines for issuing bonds to fund restoration activities, ensuring that annual debt service does not exceed fifty percent of pledged revenues.

Furthermore, the bill replaces the term "commission" with "trust authority" throughout the legislation, reflecting the shift in oversight. It allows for emergency fund expenditures related to oilfield sites without counting towards administrative limits and establishes a fee structure for crude oil and gas production based on market prices, with proceeds directed to the Oilfield Site Restoration Fund. The bill also details requirements for site-specific trust accounts, mandates restoration assessments by approved contractors, and clarifies that neither the trust authority nor the state will be liable for costs beyond available funds. The legislation is set to take effect on July 1, 2025, with provisions for updating relevant definitions and cross-references.

Statutes affected:
HB23 Original: 30:81(B), 30:83(F)(2), 30:1(B)(3), 30:86(A)(2), 30:87(A)
HB23 Engrossed: 30:82(3), 30:83(B)
HB23 Reengrossed: 30:82(3), 30:83(C)
HB23 Enrolled: 30:82(3), 30:83(C), 30:86(C)
HB23 Act 16: 30:82(3), 30:83(C), 30:86(C)