This bill amends and reenacts several sections of Louisiana's Revised Statutes related to the leasing of state property for energy-related purposes, specifically under the jurisdiction of the State Mineral and Energy Board. Key changes include the board's authority to lease state lands for the development and production of minerals, oil, gas, and alternative energy sources, as well as the classification of lease payments as a tax for federal estate law purposes. The bill also increases application fees from $400 to $600, establishes a maximum acreage limit of 5,000 acres for mineral leases (with specific provisions for wind and solar energy), and introduces minimum royalty requirements and security clauses in leases.

Additionally, the bill outlines the process for transferring or assigning leases, requiring approval from the State Mineral and Energy Board and a fee of $175 for processing. It mandates that all lease applications include detailed information and a cash deposit of $100, which is refundable under certain conditions. The bill also specifies that the board may include clauses granting a continuing security interest in leased properties and establishes a new section (R.S. 30:148.10) to clarify the applicability of these provisions. The act is set to take effect on January 1, 2025.

Statutes affected:
HB24 Original: 30:124(B), 30:126(A), 30:127(A), 30:128(A), 30:129(B)(3), 30:209(4)
HB24 Engrossed: 30:124(B), 30:126(A), 30:127(A), 30:128(A), 30:129(B)(3), 30:209(4)
HB24 Enrolled: 30:124(B), 30:126(A), 30:127(A), 30:128(A), 30:129(B)(3), 30:209(4)
HB24 Act 17: 30:124(B), 30:126(A), 30:127(A), 30:128(A), 30:129(B)(3), 30:209(4)