Louisiana Revised Statutes 30:101.11 – A. The dedicated fund account as established in R.S. 30:101.9 shall be utilized to compensate commercial fishermen operating in Louisiana territorial waters which overlie state-owned
Terms Used In Louisiana Revised Statutes 30:101.11
- Account: means the Fishermen's Gear Compensation and Underwater Obstruction Removal Dedicated Fund Account. See Louisiana Revised Statutes 30:101.3
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Grantor: The person who establishes a trust and places property into it.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Secretary: means the secretary of the Department of Energy and Natural Resources or his authorized representatives. See Louisiana Revised Statutes 30:101.3
A. The dedicated fund account as established in La. Rev. Stat. 30:101.9 shall be utilized to compensate commercial fishermen operating in Louisiana territorial waters which overlie state-owned waterbottoms which are contained within the coastal zone boundaries as described and established by La. Rev. Stat. 49:214.24.
B.(1) The secretary is authorized and empowered to levy an annual fee in the amount of four hundred dollars upon each lessee or operator for any agreement for mineral or energy production or for subsurface storage entered into by the State Mineral and Energy Board and each grantee of a state right-of-way, for each lease and right-of-way on July 1, 2023, located within the coastal zone boundary. The secretary shall not levy the fee upon a political subdivision of the state.
(2) The state treasurer shall be authorized to deposit into the account a sum in the amount of one hundred thousand dollars from proceeds remaining in the Bond Security and Redemption Fund after compliance with dedications of mineral royalties, leases, bonuses, and rights-of-way and other sums payable to the state as lessor of mineral leases and grantor of rights-of-way as required pursuant to La. Rev. Stat. 30:136(B) and 136.1(A), (B), and (C), after a sufficient amount has been allocated from the Bond Security and Redemption Fund to pay all obligations secured by the full faith and credit of the state which become due and payable within the fiscal year.
Acts 2022, No. 100, §2, eff. July 1, 2023.
NOTE: See La. Rev. Stat. 30:101.15 regarding the termination of Part after June 30, 2027.