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Recent Louisiana Energy Legislation

Recent Louisiana Energy Legislation. Marjorie McKeithen (504) 582-8420 mmckeithen@joneswalker.com. Thanks to Sarah Brehm. General Policy.

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Recent Louisiana Energy Legislation

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  1. Recent Louisiana Energy Legislation Marjorie McKeithen (504) 582-8420 mmckeithen@joneswalker.com

  2. Thanks to Sarah Brehm

  3. General Policy • HCR 93: Establishes the Louisiana Climate Change Policy Commission for evaluating the policy considerations, goals, or objectives relevant to the implementation of a comprehensive policy for the state for climate change (filed) • HR 104: Requests the House Committee on Commerce to study the development of a green energy policy within the state of Louisiana (filed) • HR 38: Urges and requests the Department of Economic Development and the Department of Natural Resources to promote an alternative energy supply (filed)   • HB 624: Encourages collection and use of waste fats, oils, and grease in manufacturing of biodiesel (Act 217)  

  4. Taxes (passed) • HB 110: Increases the individual and corporate income tax credit for the purchase of new clean-burning motor vehicles & cost to retrofit (Act 469, effective for expenditures after 1/1/09) • SB 10: Provides exception to severance taxes on production within qualified CO2 tertiary recovery projects after payout (Act 450) • HB 765: Increases the maximum amount of severance tax collected on natural resources other than sulphur, lignite, and timber – helps local government budgets (will be voted on during upcoming election)

  5. Taxes (passed) • HB 733: Authorizes tax credit for certain green job industries (Act 520) • HB 858: Expands eligibility for wind and solar energy system tax credits for taxpayers who purchase and install systems on residential properties they do not own (Act 467) • SB 224: Authorizes creation of sustainable energy financing districts by local governmental subdivisions (Act 348)

  6. Taxes (failed) • HB 824: Would have repealed certain natural gas tax credits (never heard in committee) • HB 683: Would have provided royalty payment offset equal to proportionate amount of ad valorem tax paid for deep oil and gas drilling and production (deferred in Senate committee)

  7. Environmental & Permitting • HB 159: Creates a drilling permit valid for one year with a fee of twice the six-month permit fee (Act 126) • HCR 38: Asks Congress to take such actions as are necessary to preserve and maintain the exemption from the Safe Drinking Water Act for hydraulic fracturing (filed) • HB 829: Transfers supervision of ground water resources and water well drillers from DOTD to DNR (Act 437)

  8. “Green” Oil Bills • HB 661 (“La. Geologic Sequestration of Carbon Dioxide Act”): Creates a comprehensive statewide program which provides for incentives and regulation of the use of carbon dioxide for enhanced oil recovery (Act 517) • SB 10: Provides an exception to the imposition of severance taxes due on production which would otherwise be due once payout has been achieved for production within a qualified carbon dioxide tertiary recovery project which is permitted on/after July 1, 2009 (Act 450)

  9. “Green” Oil Recovery • There are significant oil resources (“stranded oil”) in the U.S. amenable to recovery through enhanced oil recovery techniques using CO2 • Total of 400 billion barrels of stranded oil in the U.S., of which about 87 billion barrels are technically recoverable • Total of around 14 billion barrels onshore and offshore Louisiana, of which about 7.7 billion barrels are technically recoverable

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