AL HB286

Provides for annual appropriation of federal offshore royalty revenues from the Gulf of Mexico to the Department of Conservation and Natural Resources to indemnify counties for lost sixteenth section lands.

Requires the department to annually distribute federal royalty revenues to counties based on the number of lost sixteenth section acres, with indemnification contingent on Congress providing federal funds for this purpose.

Establishes that the state is entitled to approximately 930,027 acres of sixteenth section land (about 13,881 acres per county), of which only 31,635 acres are identifiable and 898,392 acres are lost.

Sets a valuation of $1,009 per acre of lost sixteenth section land and specifies the anticipated indemnification amount for each of Alabama's 67 counties.

Requires the Department of Conservation and Natural Resources, in consultation with the State Department of Education and Department of Examiners of Public Accounts, to maintain a comprehensive inventory of all sixteenth section lands and submit annual reports to the Governor, State Superintendent of Education, and Legislature.