CA AB2404

Removes the $300,000,000 cap on deposits into the Oil Trust Fund, which finances well abandonment, pipeline removal, facility removal, and remediation of oil and gas facilities from Long Beach tidelands

Changes the monthly transfer start date from July 31, 2006 to January 31, 2019 for deposits of $2,000,000 or 50% of remaining oil revenue (whichever is less) into the fund

Eliminates provisions that transferred interest earned on the fund to the General Fund once the $300,000,000 balance was reached

Requires a two-thirds vote for passage because removing the deposit cap increases appropriations to the continuously appropriated fund administered by the State Lands Commission