Louisiana Revised Statutes 30:136.3 – A. There is hereby established in the state treasury a special fund to be known as the “Mineral and Energy Operation Fund”, hereinafter referred to as the “fund”.
Terms Used In Louisiana Revised Statutes 30:136.3
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- person: includes a body of persons, whether incorporated or not. See Louisiana Revised Statutes 1:10
A. There is hereby established in the state treasury a special fund to be known as the “Mineral and Energy Operation Fund”, hereinafter referred to as the “fund”.
B. Out of the funds remaining in the Bond Security and Redemption Fund, after a sufficient amount is allocated from that fund to pay all obligations secured by the full faith and credit of the state which become due and payable within any fiscal year as required by La. Const. Art. VII, § 9(B) , the treasurer in each fiscal year shall pay into the fund revenues and amounts from the following sources:
(1) An amount equal to one million six hundred thousand dollars received by the state through the office of mineral resources from nonjudicial settlements, including but not limited to settlements of disputes of royalty audit findings, and court-awarded judgments and settlements. For Fiscal Years 2021-2022 through 2024-2025, an additional amount equal to nine hundred thousand dollars received by the state through the office of mineral resources from nonjudicial settlements, including but not limited to settlements of disputes of royalty audit findings, and court-awarded judgments and settlements.
(2) All income received under the provisions of La. Rev. Stat. 30:212(D).
(3) All revenues received from fees levied under the provisions of Subpart A of Part II of Chapter 2 of Subtitle I of this Title, comprised of La. Rev. Stat. 30:121 through 144, both inclusive.
(4) Monies from any other source from which revenues are designated for deposit to the fund.
(5) All revenue received from fees collected pursuant to La. Rev. Stat. 30:1154.
C. Monies in the fund shall be invested by the state treasurer in the same manner as monies in the state general fund. Interest earned on investment of monies in the fund shall be credited to the state general fund.
D. The monies in the fund shall be appropriated by the legislature to the Department of Energy and Natural Resources to be used solely for the administration and regulation of minerals, ground water, and related energy activities. Additionally, monies deposited into the fund pursuant to Paragraph (B)(5) of this Section shall be used solely for the administration and regulation of solar power generation facilities.
E. In every year in which the department expends monies appropriated from this fund for the purposes of legal costs and expenses, the secretary of the department shall provide the legislature with an itemized report detailing such expenditures, which shall include the name of any person or corporation receiving any such monies. The report shall be provided to the House Committee on Appropriations and the Senate Committee on Finance no later than May first of each year.
Acts 1997, No. 673, §1; Acts 2000, 2d Ex. Sess., No. 8, §1; Acts 2001, No. 1182, §4, eff. July 1, 2001; Acts 2002, 1st Ex. Sess., No. 106, §1, eff. April 18, 2002; Acts 2003, No. 993, §1, eff. July 2, 2003; Acts 2009, No. 196, §2, eff. July 1, 2009; Acts 2017, No. 329, §1; Acts 2021, No. 268, §1; Acts 2022, No. 555, §1, eff. Aug. 2, 2022; Acts 2023, No. 150, §5, eff. Jan. 10, 2024.