HLS 10RS-459 ORIGINAL
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CODING: Words in struck through type are deletions from existing law; words underscored
are additions.
Regular Session, 2010
HOUSE BILL NO. 1026
BY REPRESENTATIVE HARRISON
ENERGY/DRILLING: Extends the Royalty Relief Dry Hole Credit Program until 2015
AN ACT1
To amend and reenact R.S. 30:150(B)(9), (E), (G), and (I), relative to the Royalty Relief Dry2
Hole Credit Program; to extend eligibility for credits until 2011 and to extend the3
program until 2015; and to provide for related matters.4
Be it enacted by the Legislature of Louisiana:5
Section 1. R.S. 30:150(B)(9), (E), (G), and (I) are hereby amended and reenacted to6
read as follows:7
ยง150. Louisiana Royalty Relief Dry Hole Credit Program; requirements; conditions;8
limitations; expiration9
* * *10
B. The requirements for the royalty relief dry hole credit are as follows:11
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(9) The royalty relief dry hole credit is applied for and obtained prior to June13
30, 2009 2011.14
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E. No more than a maximum total of twenty wells shall be certified by the16
department under the program as qualifying for royalty relief dry hole credit. On and17
after June 30, 2009 2011, no well shall be eligible or certified by the department as18
qualifying for royalty relief dry hole credit.19
* * *20 HLS 10RS-459 ORIGINAL
HB NO. 1026
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CODING: Words in struck through type are deletions from existing law; words underscored
are additions.
G. Regardless of when obtained, all royalty relief dry hole credits authorized1
by this Section shall expire on June 30, 2013 2015.2
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I. The provisions of this Section shall expire and terminate on June 30, 20134
2015.5
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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)]
Harrison HB No. 1026
Abstract: Extends the Royalty Relief Dry Hole Credit Program until June 30, 2015.
Present law authorizes the establishment of a dry hole credit program for drilling on state
lands. Requires drilling to have started prior to July 1, 2005, on state land to a depth of
19,999 feet and is not commercially productive. Provides for the credit to be in the form of
deduction from future royalty payments due to the state. Limits the number of wells eligible
for the credit to 20. Provides that no well drilled after June 30, 2009, shall be eligible.
Provides that all credits expire on June 30, 2013, and provides that the statutes authorizing
the program terminate on June 30, 2013.
Proposed law extends the application date and eligibility for credits until June 30, 2011.
Extends the ability to receive credits and the statutory authorization for the program until
June 30, 2015.
(Amends R.S. 30:150(B)(9), (E), (G), and (I))