This bill amends existing laws regarding the revenue generated from carbon dioxide sequestration on state property, specifically focusing on the distribution of such revenue. It introduces new provisions that clarify the handling of revenues collected from carbon dioxide storage beneath public lands, which now includes dried lake beds that were formerly navigable. The bill specifies that revenues collected by the office of mineral resources must be forwarded to the state treasurer for deposit into the state treasury, with a portion allocated to local governing authorities and the Louisiana Wildlife and Fisheries Conservation Fund. Notably, it establishes that this revenue distribution does not apply to property owned by local governmental entities.

Additionally, the bill enacts new sections that detail the distribution of injection-based revenue collected on behalf of state agencies, including the Department of Wildlife and Fisheries. It mandates that 30% of such revenue be remitted to the governing authority of the relevant parish, with the remainder directed to the state general fund or the Louisiana Wildlife and Fisheries Conservation Fund, depending on the agency involved. The bill also requires state agencies to submit monthly reports on collections from injection operations and allows for the disclosure of relevant data to parish governing authorities upon request. Furthermore, it ensures that existing donations accepted prior to August 1, 2025, for wildlife refuges and management areas are not breached by the new provisions.

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)
HB548 Enrolled: 30:149(B), 30:2(B)
HB548 Act 508: 30:149(B), 30:2(B)