Abstract: Dedicates 30% of revenue received by the state for carbon dioxide sequestration on property owned by the Department of Wildlife and Fisheries and the Wildlife and Fisheries Commission to local governing authorities where the property is located.

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Present law provides for the following distribution of funds collected by the office of mineral resources from any contractual agreements for the storage of carbon dioxide on state-owned lands or water bottoms:

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(1) 30% to the Mineral and Energy Operation Fund.
(2) 30% to parishes included in the agreement. If one or more parishes is included in the agreement, the 30% will be divided based on the amount of land in each parish included in the agreement.
(3) The remaining funds are deposited into the state general fund.

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Present law excludes from the present law distribution all existing constitutional and statutory dedications of funds collected by the office of mineral resources on behalf of a state agency.

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Proposed law excludes from the present law distribution any constitutional dedication of funds and any statutory dedication of funds enacted prior to Aug. 1, 2025.

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Proposed law provides an exception to the distribution of funds under present law for funds collected by the office of mineral resources for the carbon dioxide storage, or the transportation of carbon dioxide for storage, beneath property owned by the Dept. of Wildlife and Fisheries and the Wildlife and Fisheries Commission. Under proposed law, these funds will be distributed as follows:

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(1) 30% to parishes included in the agreement. If one or more parishes is included in the agreement, the 30% will be divided based on the amount of land in each parish included in the agreement.
(2) The remainder to the Wildlife and Fisheries Conservation Fund.

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Proposed law further provides for the following distribution of funds collected by the Dept. of Wildlife and Fisheries or the Wildlife and Fisheries Commission if they lease their own property for the storage of carbon dioxide or for carbon dioxide sequestration pipelines:

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(1) 30% to parishes included in the agreement. If one or more parishes is included in the agreement, the 30% will be divided based on the amount of land in each parish included in the agreement.
(2) The remainder to the Wildlife and Fisheries Conservation Fund.