Abstract: Dedicates revenues received from alternative or renewable energy production in the coastal area to the Coastal Protection and Restoration Fund.

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Present law requires that the treasurer deposit annually into the Coastal Protection and Restoration Fund the federal revenues received by the state from Outer Continental Shelf oil and gas activity.

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Proposed law retains present law requirement and adds federal revenues generated from Outer Continental Shelf alternative or renewable energy production sources.

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Present law provides that no more than 10% of the federal revenues received by the state generated from Outer Continental Shelf oil and gas activity may be used for the purposes of infrastructure directly impacted by coastal wetlands losses annually. Proposed law changes present law requirement from revenues generated from oil and gas activities to revenues generated from energy production.

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Present law provides that at least $200,000 but no more than seven percent of the federal revenues received by the state generated from Outer Continental Shelf oil and gas activity may be used for administrative costs or fees annually. Proposed law changes present law requirement from revenues generated from oil and gas activities to revenues generated from energy production.

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Present law requires that, beginning with Fiscal Year 2022, a portion of the total federal revenues received by the state generated from Outer Continental Shelf oil and gas activity be allocated solely for hurricane protection projects, including operation and maintenance, that are included in or consistent with the master plan. Proposed law changes present law requirement from revenues generated from oil and gas activities to revenues generated from energy production.

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Proposed law provides that the revenues that are received by the state generated upon state lands or waterbottoms located in the coastal area from alternative or renewable energy production or sources are deposited and credited to the Coastal Protection and Restoration Fund and may be used only for the purposes of integrated coastal protection, including but not limited to coastal wetlands conservation, coastal restoration, hurricane protection, or for infrastructure directly impacted by coastal wetlands losses.

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Proposed law further provides that in each year, no more than 10% of the revenues received by the state generated upon state lands or waterbottoms located in the coastal area from alternative or renewable energy production or sources may be used for the purposes of infrastructure directly impacted by coastal wetlands losses.

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The provisions of proposed law regarding revenue generated upon state lands or waterbottoms from alternative or renewable energy production or sources are effective upon the governor's signature or upon expiration of the time for bills to become law without signature by the governor. Remaining provisions of proposed law are effective if and when the proposed amendment to Article VII contained in House Bill No. __ of the 2023 Regular Session is adopted at a statewide election and becomes effective.