CA AB2257

Requires the State Lands Commission to develop a cost study by December 31, 2024, evaluating the fiscal impact of voluntary relinquishment of actively producing state offshore oil and gas leases in state waters, contingent upon legislative appropriation.

Cost study must analyze expected production duration, state revenues received to date, remaining reservoir life, unrealized lessee revenues and profits, unrealized state revenues, and decommissioning costs.

Commission must hold at least one public hearing by December 31, 2023, and submit a status update to the Governor and Legislature by the same date including study outline, data gaps, preliminary analysis, and public comments.

Commission must submit final cost study to the Governor and Legislature by December 31, 2024, with recommendations to advance the end of offshore oil and gas development, and post the study on its website.

Report requirements sunset on December 31, 2028 for the final cost study and December 31, 2027 for the status update.