Loading chat...
LA HB252
Bill
Status
2/20/2026
Primary Sponsor
Danny McCormick
Click for details
AI Summary
-
100% of recurring severance tax revenues from certified stripper wells in the Caddo Pine Island Field that would otherwise go to the state general fund will be deposited into the Oilfield Site Restoration Fund
-
Deposited funds must be used exclusively for oilfield site restoration and plugging of orphan wells within the Caddo Pine Island Field
-
These dedicated severance tax revenues are exempt from being pledged as security for bonds issued by the Natural Resources Trust Authority
-
Amends R.S. 30:83.1 and R.S. 30:86 to create a new revenue stream category and restrict its use to the specific geographic area
-
Effective July 1, 2026
Legislative Description
Dedicates severance tax revenue from oil and gas produced from certain stripper wells in the Caddo Pine Island Field to the Oilfield Site Restoration Fund and provides for the use of those monies (OR -$1,708,285 GF RV See Note)
FUNDS/FUNDING
Last Action
Read by title, under the rules, referred to the Committee on Appropriations.
3/9/2026