Louisiana Revised Statutes 39:100.116 – Dedication of mineral revenues
Terms Used In Louisiana Revised Statutes 39:100.116
- 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.
- Fund: means an independent fiscal and accounting entity with a self-balancing set of accounts recording cash or other resources together with all related liabilities, obligations, reserves, and equities which are segregated for the purpose of carrying on specific activities or attaining certain objectives in accordance with regulations, restrictions, and limitations. See Louisiana Revised Statutes 39:2
- Liability: means a debt arising out of a transaction where goods or services have been received or rendered which must be liquidated, renewed, or refunded at some future date. See Louisiana Revised Statutes 39:2
- Quality: means degree or grade of excellence. See Louisiana Revised Statutes 39:2
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
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 La. Const. Art. VII, § 9(B) .
(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 La. Rev. Stat. 47:324, La. Rev. Stat. 56:799, and 799.3.
(4) To the Louisiana Wildlife and Fisheries Conservation Fund and the Oil and Gas Regulatory Dedicated Fund Account as provided in La. Rev. Stat. 30:136.1(D).
(5) To the Rockefeller Wildlife Refuge and Game Preserve Fund as provided in La. Rev. Stat. 56:797.
(6) To the Marsh Island Operating Fund and the Russell Sage or Marsh Island Refuge Fund as provided in La. Rev. Stat. 56:798.
(7) To the MC Davis Conservation Fund as provided in La. Rev. Stat. 56:799.
(8) To the White Lake Property Fund as provided in La. Rev. Stat. 56:799.3.
(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 La. Rev. Stat. 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 La. Rev. Stat. 39:97.
(12) To the Budget Stabilization Fund as provided in Article VII, Section 10.3 of the Constitution of Louisiana and La. Rev. Stat. 39:94.
(13) An amount equal to the state general fund deposited into the Transportation Trust Fund as provided in La. Rev. Stat. 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 La. Rev. Stat. 39:94(A)(2), but are prohibited from being deposited into the fund under La. Rev. Stat. 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 La. Const. Art. VII, § 10(B) .
(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.
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.