House Bill No. HLS 25RS-321 establishes the Louisiana Dividend Program within the Department of Treasury, designed to return a portion of excess mineral revenues to qualifying Louisiana residents. The program will be funded by 25% of mineral revenues exceeding $650 million and includes provisions that 20% of any dividend received is exempt from seizure. The bill outlines eligibility criteria, requiring applicants to be at least 18 years old, state residents, and to meet specific conditions, including compliance with military selective service registration if applicable. The application period is set from July 1 to September 30, with special provisions for military personnel to apply after deployment.
The legislation also introduces significant changes to the eligibility and application process, defining "individual" as a natural person and specifying criteria for "ineligible individuals," such as those convicted of felonies during the qualifying year. It allows parents or guardians to claim dividends for disabled individuals and mandates that dividends be paid to the estates of deceased applicants who had applied prior to their death. The bill establishes a requirement that dividends can only be paid if the fund's balance exceeds $400 million and includes penalties for false claims, as well as a $25 appeal fee for contesting ineligibility determinations, with a waiver option for low-income applicants. Overall, the bill aims to streamline the administration of the dividend program while ensuring accountability and support for eligible individuals.
Statutes affected:
HB628 Original: 44:1(B)(35)
HB628 Engrossed: 44:1(B)(35)
HB628 Reengrossed: 44:1(B)(35)
HB628 Re-Reengrossed: 44:1(B)(35)