AR HB1138

Appropriates $4,762,760 from the Oil and Gas Commission Fund for the Department of Energy and Environment - Oil and Gas Commission for fiscal year 2023-2024, including $1,897,807 for regular salaries and $60,000 for extra help.

Establishes a maximum of 34 regular full-time employees across various positions including 1 Oil & Gas Director, 2 Senior Petroleum Engineers, 3 Senior Petroleum Geologists, and 9 E&E Inspectors II.

Appropriates $12,500,000 from the Abandoned and Orphaned Well Plugging Fund for well plugging program expenses for fiscal year 2023-2024.

Authorizes the Oil and Gas Commission to request annual transfers up to $1,000,000 from the Oil and Gas Commission Fund to the Abandoned and Orphaned Well Plugging Fund, with provisions for a one-time emergency transfer of $10,000,000.

Amends Arkansas Code Title 15, Chapter 71 to allow Oil and Gas Commission trust and special revenue funds to be invested and reinvested with written approval from the State Treasurer, effective July 1, 2023 through June 30, 2024.