This bill amends Louisiana's Revised Statutes concerning oilfield site restoration by transferring the responsibilities from the Oilfield Site Restoration Commission to the Natural Resources Trust Authority. It establishes the Oilfield Site Restoration Fund, which will be managed by the Trust Authority under the oversight of the State Mineral and Energy Board. The legislation introduces a new fee structure for oilfield site restoration, with increased fees for crude oil and gas production, and mandates that the proceeds be directed to the newly created fund. Additionally, the bill allows the Trust Authority to enter into financial agreements and manage federal funds for restoration efforts and orphan well plugging.

Key changes include the repeal of the Oilfield Site Restoration Commission and the introduction of the term "Trust authority" to refer to the Natural Resources Trust Authority. The bill outlines the Trust Authority's functions, such as approving restoration priorities and managing funds, and allows for the issuance of bonds to support restoration activities. It also establishes requirements for site-specific trust accounts and emphasizes the importance of monitoring these accounts. Furthermore, the legislation limits the financial liability of the Trust Authority and the state for restoration costs to the available funds, ensuring that they are not held responsible for expenses beyond those resources. The bill is scheduled to take effect on July 1, 2025.

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)