Present law (R.S. 30:86) establishes a fund in the custody of the treasurer called the Oilfield Site Restoration Fund. Proposed law establishes the fund as a special fund in the treasury.

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Proposed law retains present law. Adds provisions requiring unexpended and unencumbered monies at the end of the fiscal year to remain in the fund, that monies in the fund be invested by the treasurer in the same manner as the state general fund, and that interest earned on the monies in the Restoration Fund be deposited into the fund. Requires the treasurer to prepare and submit to the Dept. of Energy and Natural Resources on a quarterly basis a report reflecting the balance of the fund.

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Proposed law provides that present and proposed law do not apply to monies allocated to parishes pursuant to proposed constitutional amendment (Art. VII, §8(B) and (C)).