PART VI. OIL SPILL CONTINGENCY FUND

§2483. Oil Spill Contingency Fund

            A. "Secretary" as used in this Part shall mean the secretary of the Department of Revenue.

            NOTE: Subsections B, C, and D eff. until ratification of the const. amend. proposed by Acts 2024, 3rd Ex. Sess., No. 1.

            B. In order to fulfill the constitutional mandate of Article IX, Section 1 of the Constitution of Louisiana to protect, conserve, and replenish the natural resources of the state, the legislature hereby declares that sufficient funds shall be made available to the Oil Spill Contingency Fund, in order for prevention of and response to unauthorized discharges of oil.

            C. The purpose of the fund is to immediately provide available funds for response to all threatened or actual unauthorized discharges of oil, for clean up of pollution from unauthorized discharges of oil, natural resources damages, damages sustained by any state agency or political subdivision, and removal costs from threatened, unauthorized discharges of oil.

            D. All fees, taxes, penalties, judgments, reimbursements, charges, and federal funds collected pursuant to the provisions of this Chapter, except as provided by R.S. 30:2480.2, shall be deposited immediately upon receipt into the state treasury.

            NOTE: Subsections B, C, and D eff. upon ratification of the const. amend. proposed by Acts 2024, 3rd Ex. Sess., No. 1.

            B. There shall be established in the state treasury, as a special fund, the Oil Spill Contingency Fund, hereinafter referred to as the "contingency fund".  Out of the funds remaining in the Bond Security and Redemption Fund after a sufficient amount is allocated from that fund to pay all obligations secured by the full faith and credit of the state which become due and payable within any fiscal year as required by Article VII, Section 13(B) of the Constitution of Louisiana, the treasurer shall pay into the contingency fund all of the following:

            (1) All fees, taxes, penalties, judgments, reimbursements, charges, and federal funds collected pursuant to the provisions of this Chapter, except as provided by R.S. 30:2480.2.

            (2) Any fees, taxes, penalties, reimbursements, charges, federal funds, or other revenue enacted by the legislature for the purposes of abatement and containment of actual or threatened unauthorized discharges of oil after November 23, 1995, shall be irrevocably dedicated and deposited in the contingency fund.

            (3)  All funds or revenues which may be donated expressly to the contingency fund.

            C. The monies in the contingency fund shall be appropriated by the legislature to be used solely for the programs and purposes of abatement and containment of actual or threatened unauthorized discharges of oil and for administrative expenses associated with such programs and purposes, as provided in this Part.

            D. In order to fulfill the constitutional mandate of Article IX, Section 1 of the Constitution of Louisiana to protect, conserve, and replenish the natural resources of the state, the legislature hereby declares that sufficient funds shall be made available to the Oil Spill Contingency Fund, in order for prevention of and response to unauthorized discharges of oil.

            NOTE: Subsection E eff. until ratification of the const. amend. proposed by Acts 2024, 3rd Ex. Sess., No. 1.

            E. After compliance with the requirements of Article VII, Section 9(B) of the Constitution of Louisiana relative to the Bond Security and Redemption Fund, and prior to monies being placed in the state general fund, an amount equal to that deposited, as required in Subsection D of this Section, and monies appropriated by the legislature shall be credited to a special fund hereby created in the state treasury to be known as the "Oil Spill Contingency Fund". The monies in this fund shall be used solely as provided in this Part and only in the amounts appropriated by the legislature. All unexpended and unencumbered monies in this fund at the end of the fiscal year shall remain in the fund. The monies in this fund shall be invested by the state treasurer in the same manner as monies in the state general fund, and interest earned on the investment of these monies shall remain in the fund.

            NOTE: Subsection E eff. upon ratification of the const. amend. proposed by Acts 2024, 3rd Ex. Sess., No. 1.

            E. The purpose of the fund is to immediately provide available funds for response to all threatened or actual unauthorized discharges of oil, for clean up of pollution from unauthorized discharges of oil, natural resources damages, damages sustained by any state agency or political subdivision, and removal costs from threatened, unauthorized discharges of oil.

            NOTE: Subsections F and G eff. upon ratification of the const. amend. proposed by Acts 2024, 3rd Ex. Sess., No. 1.

            F. All unexpended and unencumbered monies in this fund at the end of the fiscal year shall remain in the fund. The monies in this fund shall be invested by the state treasurer in the same manner as monies in the state general fund, and interest earned on the investment of these monies shall remain in the fund.

            G. The provisions of this Section shall not apply to or affect funds allocated by Article VII, Section 8, Paragraphs (B) and (C) of the Constitution of Louisiana.

            Acts 1991, 1st Ex. Sess., No. 7, §1, eff. April 23, 1991; Acts 1997, No. 658, §2; Acts 2001, No. 649, §1, eff. June 22, 2001; Acts 2010, No. 962, §1, eff. July 6, 2010; Acts 2013, No. 394, §1, eff. July 1, 2014; Acts 2024, 3rd Ex. Sess., No. 13, §2, See Act.