SUBPART P-5. DEDICATION OF MINERAL REVENUES

§100.116. Dedication of mineral revenues

NOTE: Subsection (A)(intro. para.) and Paragraphs (A)(1) through (A)(3) eff. until ratification of const. amend. proposed by Acts 2024, 3rd Ex. Sess., No. 1.

            A. All mineral revenues as defined in Subsection D of this Section received in each fiscal year by the state as a result of the production of or exploration for minerals, hereinafter referred to as mineral revenues, shall be allocated as provided in this Section after the following allocations and deposits of mineral revenues have been made:

            (1) To the Bond Security and Redemption Fund as provided by Article VII, Section 9(B) of the Constitution of Louisiana.

            (2) To the political subdivisions of the state as provided in Article VII, Sections 4(D) and (E) of the Constitution of Louisiana.

            (3) To the Louisiana Wildlife and Fisheries Conservation Fund as provided by the requirements of Article VII, Section 10-A of the Constitution of Louisiana and R.S. 47:324, R.S. 56:799 and 799.3.

NOTE: Subsection (A)(intro. para.) and Paragraphs (A)(1) through (A)(3) eff. upon ratification of const. amend. proposed by Acts 2024, 3rd Ex. Sess., No. 1.

            A. All mineral revenues as defined in Subsection B of this Section received in each fiscal year by the state as a result of the production of or exploration for minerals, hereinafter referred to as mineral revenues, shall be allocated as provided in this Section after the following allocations and deposits of mineral revenues have been made:

            (1) To the Bond Security and Redemption Fund as provided by Article VII, Section 13(B) of the Constitution of Louisiana.

            (2) To the political subdivisions of the state as provided in Article VII, Sections 8(B) and (C) of the Constitution of Louisiana and R.S. 47:645.

            (3) To the Louisiana Wildlife and Fisheries Conservation Fund as provided by the requirements of Article VII, Section 23 of the Constitution of Louisiana and R.S. 47:324, R.S. 56:799, and 799.3.

NOTE: Paragraph (A)(4) eff. until ratification of const. amend. proposed by Acts 2024, 3rd Ex. Sess., No. 1.

            (4) To the Louisiana Wildlife and Fisheries Conservation Fund and the Oil and Gas Regulatory Dedicated Fund Account as provided in R.S. 30:136.1(D).

NOTE: Paragraph (A)(4) repealed upon ratification of const. amend. proposed by Acts 2024, 3rd Ex. Sess., No. 1.

            (4) Repealed by Acts 2024, 3rd Ex. Sess., No. 13, §8.

            (5) To the Rockefeller Wildlife Refuge and Game Preserve Fund as provided in R.S. 56:797.

            (6) To the Marsh Island Operating Fund and the Russell Sage or Marsh Island Refuge Fund as provided in R.S. 56:798.

            (7) To the MC Davis Conservation Fund as provided in R.S. 56:799.

            (8) To the White Lake Property Fund as provided in R.S. 56:799.3.

NOTE: Paragraphs (A)(9) through (A)(13) and Subsections B through D eff. until ratification of const. amend. proposed by Acts 2024, 3rd Ex. Sess., No. 1.

            (9) To the Louisiana Education Quality Trust Fund and Louisiana Quality Education Support Fund as provided in Article VII, Section 10.1 of the Constitution of Louisiana.

            (10) To the Coastal Protection and Restoration Fund as provided in Article VII, Section 10.2 of the Constitution of Louisiana and R.S. 49:214.5.4.

            (11) To the Mineral Revenue Audit and Settlement Fund as provided in Article VII, Section 10.5 of the Constitution of Louisiana and R.S. 39:97.

            (12) To the Budget Stabilization Fund as provided in Article VII, Section 10.3 of the Constitution of Louisiana and R.S. 39:94.

            (13) An amount equal to the state general fund deposited into the Transportation Trust Fund as provided in R.S. 48:77.

            B. After the allocations and deposits provided in Subsection A of this Section, the mineral revenues received in each year in excess of six hundred sixty million dollars and less than nine hundred fifty million dollars shall be allocated as follows:

            (1) Thirty percent shall be appropriated to the Louisiana State Employees' Retirement System and the Teachers' Retirement System of Louisiana for application to the balance of the unfunded accrued liability of such systems existing as of June 30, 1988, in proportion to the balance of such unfunded accrued liability of each such system, until such unfunded accrued liability has been eliminated. Any such payments to the public retirement systems shall not be used, directly or indirectly, to fund cost-of-living increases for such systems.

            (2) The remainder shall be deposited into the Revenue Stabilization Trust Fund.

            C. Mineral revenues in excess of the base which would otherwise be deposited into the Budget Stabilization Fund under R.S. 39:94(A)(2), but are prohibited from being deposited into the fund under R.S. 39:94(C)(5), shall be distributed as follows:

            (1) Thirty percent shall be appropriated to the Louisiana State Employees' Retirement System and the Teachers' Retirement System of Louisiana for application to the balance of the unfunded accrued liability of such systems existing as of June 30, 1988, in proportion to the balance of such unfunded accrued liability of each such system, until such unfunded accrued liability has been eliminated. Any such payments to the public retirement systems shall not be used, directly or indirectly, to fund cost-of-living increases for such systems.

            (2) The remainder shall be deposited into the Revenue Stabilization Trust Fund.

            D. For purposes of this Section, "mineral revenues" shall include severance taxes, royalty payments, bonus payments, or rentals, with the following exceptions:

            (1) Revenues designated as nonrecurring, pursuant to Article VII, Section 10(B) of the Constitution of Louisiana.

            (2) Revenues received by the state as a result of grants or donations when the terms or conditions thereof require otherwise.

            (3) Revenues derived from any tax on the transportation of minerals.

NOTE: Paragraphs (A)(9) through (A)(13) and Subsections B through D eff. upon ratification of const. amend. proposed by Acts 2024, 3rd Ex. Sess., No. 1.

            (9) Repealed by Acts 2024, 3rd Ex. Sess., No. 13, §8.

            (10) To the Coastal Protection and Restoration Fund as provided in R.S. 49:214.5.4.

            (11) Repealed by Acts 2024, 3rd Ex. Sess., No. 13, §8.

            (12) To the Budget Stabilization Fund as provided in Article VII, Section 15 of the Constitution of Louisiana and R.S. 39:94.

            (13) Repealed by Acts 2024, 3rd Ex. Sess., No. 13., §8.

            B. For purposes of this Section, "mineral revenues" shall include severance taxes, royalty payments, bonus payments, or rentals, with the following exceptions:

            (1) Revenues designated as nonrecurring, pursuant to Article VII, Section 14(D) of the Constitution of Louisiana.

            (2) Revenues received by the state as a result of grants or donations when the terms or conditions thereof require otherwise.

            (3) Revenues derived from any tax on the transportation of minerals.

            C. Repealed by Acts 2024, 3rd Ex. Sess., No. 13, §8.

            D. Repealed by Acts 2024, 3rd Ex. Sess., No. 13, §8.

            Acts 2016, No. 639, §1, special eff. date; Acts 2019, No. 434, §5(B), eff. June 30, 2019; Acts 2021, No. 114, §18, eff. July 1, 2022; Acts 2020, No. 182, §1; Acts 2024, 3rd Ex. Sess., No. 13, §§3, 8, eff. See Act.