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 residents. The bill creates the Louisiana Dividend Fund, which will receive 25% of mineral revenues exceeding $650 million, and specifies that 20% of any dividend received is exempt from seizure. It outlines eligibility criteria for individuals seeking dividends, including age, residency, and compliance with military service registration, while also allowing guardians to apply on behalf of disabled individuals. The bill mandates the Department of Treasury to implement rules for program administration and establishes penalties for fraudulent claims.

Additionally, the bill introduces significant changes to existing law regarding dividend eligibility and application processes. It defines key terms, such as "individual" and "ineligible individual," and specifies that individuals convicted of a felony during the qualifying year are ineligible for dividends. The legislation establishes an appeal process for those aggrieved by eligibility decisions, including a $25 appeal fee that may be waived for indigent individuals. It also stipulates that dividends can only be paid if the fund's balance exceeds $400 million at the end of the qualifying year and sets a specific application period from July 1 to September 30, with provisions for active-duty military members to apply after this period. Overall, the bill aims to streamline the application process and enhance oversight of the funds involved.

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)