House Bill No. 548, introduced by Representative Lacombe, aims to amend existing laws regarding the distribution of revenue generated from carbon dioxide sequestration on state-owned lands and water bottoms. The bill proposes to limit the distribution of these revenues to public lands as defined in R.S. 41:1701 and formerly navigable dried lake beds that remain owned by the state. It also removes the exclusion of constitutional and statutory dedications from the distribution of funds. Specifically, the bill mandates that 30% of injection-based revenue collected by state agencies for carbon dioxide sequestration projects be allocated to local governing authorities in the parishes where the storage facilities are located. The remaining revenue will be directed to the Louisiana Wildlife and Fisheries Conservation Fund or the state general fund, depending on the agency involved.

Additionally, the bill introduces new provisions that define "injection-based revenue" and outlines the reporting requirements for state agencies regarding their collections from injection operations. It ensures that any injection-based revenue collected by the Department of Wildlife and Fisheries or the Wildlife and Fisheries Commission is specifically allocated to the Conservation Fund, while revenue from other state agencies is directed to the general fund. The bill also clarifies that it does not apply to local governmental entities and emphasizes the importance of transparency in revenue collection and distribution.

Statutes affected:
HB548 Original: 30:149(B), 30:2(B)
HB548 Engrossed: 30:149(B), 30:2(B)
HB548 Reengrossed: 30:149(B), 30:2(B)