H 1054 - Clean Energy and Economic Security Act

• Establishes North Carolina Oil and Gas Board with jurisdiction over oil and gas exploration, development, horizontal drilling, and hydraulic fracturing; directs board to create modern regulatory program by December 31, 2013.

• Places moratorium on permits for horizontal drilling and hydraulic fracturing from effective date through July 1, 2014, while regulatory framework is developed.

• Creates Joint Legislative Commission on Energy Policy consisting of 10 members to exercise legislative oversight of energy policy and monitor oil and gas board operations.

• Requires Department of Public Instruction to purchase only compressed natural gas (CNG)-fueled school buses beginning July 1, 2013, and Department of Transportation to purchase CNG-capable pickup trucks at specified rates starting July 1, 2013.

• Authorizes cities and counties to impose one-time impact fees up to $30,000 per oil and gas well; allows Oil and Gas Board to preempt local ordinances that prohibit oil and gas activities if specific findings are met.