Read the full stored bill text
HLS 26RS-128 ORIGINAL
2026 Regular Session
HOUSE BILL NO. 252
BY REPRESENTATIVE MCCORMICK
FUNDS/FUNDING: Dedicates severance tax revenue from oil and gas produced from
certain stripper wells in the Caddo Pine Island Field to the Oilfield Site Restoration
Fund and provides for the use of those monies
1 AN ACT
2 To amend and reenact R.S. 30:83.1(A)(2) and 86(E)(introductory paragraph) and to enact
3 R.S. 30:86(D)(11) and (F), relative to monies in the Oilfield Site Restoration Fund;
4 to provide relative to deposit of certain revenue streams; to provide relative to use
5 of those monies; to provide restrictions; to provide for an effective date; and to
6 provide for related matters.
7 Be it enacted by the Legislature of Louisiana:
8 Section 1. R.S. 30:83.1(A)(2) and 86(E)(introductory paragraph) are hereby
9 amended and reenacted and R.S. 30:86(D)(11) and (F) are hereby enacted to read as follows:
10 §83.1. Authorization of bonds
11 A.
12 * * *
13 (2) The bonds may be secured by an irrevocable pledge and dedication of
14 revenues of the trust authority, at the direction of the secretary, which shall consist
15 of all monies deposited in the fund pursuant to R.S. 30:86(D) except those monies
16 deposited pursuant to R.S. 30:86(D)(11), collected, derived, or received from the
17 oilfield site restoration fees and penalties imposed pursuant to R.S. 30:87 or any
18 other lawfully available revenues, if any, to the extent appropriated, provided that
19 annual debt service shall not be in excess of fifty percent of the pledged revenues
Page 1 of 3
CODING: Words in struck through type are deletions from existing law; words underscored
are additions.
HLS 26RS-128 ORIGINAL
HB NO. 252
1 estimated to be received in the calendar year the bonds are issued, but shall not
2 include monies deposited pursuant to R.S. 30:86(D)(11) or site-specific trust account
3 monies as identified in R.S. 30:86(D)(6) and 88. The bonds of the issuer shall be
4 revenue bonds payable solely from the above-described sources, to the extent
5 appropriated and released from the state, and such pledge shall not constitute a
6 pledge of the full faith and credit of the state.
7 * * *
8 §86. Oilfield Site Restoration Fund
9 * * *
10 D. The following monies shall be placed into the Oilfield Site Restoration
11 Fund:
12 * * *
13 (11) One hundred percent of the portion of recurring severance tax revenues
14 collected on oil and gas produced by certified stripper wells in the Caddo Pine Island
15 Field that would have been deposited into the state general fund after allocations of
16 such revenues otherwise required by the Constitution of Louisiana and the Louisiana
17 Revised Statutes of 1950.
18 E. Except as otherwise provided in this Section, the monies in the fund
19 deposited pursuant to Paragraphs (D)(1) through (10) of this Section may be
20 disbursed and expended pursuant to the authority and direction of the secretary or the
21 Natural Resources Trust Authority for the following purposes and uses:
22 * * *
23 F. Monies deposited pursuant to Paragraph (D)(11) of this Section may be
24 disbursed and expended pursuant to the authority and direction of the secretary or the
25 Natural Resources Trust Authority for oilfield site restoration, plugging of orphan
26 wells, or both, in the Caddo Pine Island Field.
27 * * *
Page 2 of 3
CODING: Words in struck through type are deletions from existing law; words underscored
are additions.
HLS 26RS-128 ORIGINAL
HB NO. 252
1 Section 2. This Act shall become effective on July 1, 2026; if vetoed by the governor
2 and subsequently approved by the legislature, this Act shall become effective on July 1,
3 2026, or on the day following such approval by the legislature, whichever is later.
DIGEST
The digest printed below was prepared by House Legislative Services. It constitutes no part
of the legislative instrument. The keyword, one-liner, abstract, and digest do not constitute
part of the law or proof or indicia of legislative intent. [R.S. 1:13(B) and 24:177(E)]
HB 252 Original 2026 Regular Session McCormick
Abstract: Requires deposit of the avails of oil and gas severance taxes collected from
certified stripper wells in the Caddo Pine Island Field into the Oilfield Site
Restoration Fund and provides for use of those monies.
Present constitution (Art. VII, Sec. 10.6) establishes the Oilfield Site Restoration Fund
(hereafter "fund") in the state treasury as a special fund. Requires deposit of certain revenue
streams into the fund and provides for use of monies in the fund.
Present law (R.S. 30:86) provides for additional deposits into the fund. Proposed law adds
requirement that the treasurer deposit into the fund 100% of the portion of recurring
severance tax revenues collected on oil and gas produced by certified stripper wells in the
Caddo Pine Island Field that would have been deposited into the state general fund after
allocations otherwise required by present constitution and present law.
Present law establishes authorized uses for monies in the fund. Proposed law requires that
monies deposited pursuant to proposed law be used exclusively for oilfield site restoration,
plugging of orphan wells, or both, in the Caddo Pine Island Field.
Present law (R.S. 30:83.1) authorizes monies in the fund to be pledged for issuance of bonds
and provides certain exceptions. Proposed law exempts the oil and gas severance taxes
deposited pursuant to proposed law from pledge pursuant to present law.
Effective July 1, 2026, or upon lapse of time for gubernatorial action.
(Amends R.S. 30:83.1(A)(2) and 86(E)(intro. para.); Adds R.S. 30:86(D)(11) and (F))
Page 3 of 3
CODING: Words in struck through type are deletions from existing law; words underscored
are additions.