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Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.
Regular Session, 2014
SENATE BILL NO. 395
BY SENATOR ALLAIN
FUNDS/FUNDING. Provides relative to the Fishermen's Gear Compensation Fund. (7/1/14)
AN ACT1
To amend and reenact R.S. 56:700.2(A)(4) and (C)(2) and to enact R.S. 56:700.6, relative2
to the Fishermen's Gear Compensation Fund; to provide a termination date for3
deposits from the fund; to provide an exemption for certain fees; to provide a4
termination date for the fund; to provide terms, conditions, and requirements; and to5
provide for related matters.6
Be it enacted by the Legislature of Louisiana:7
Section 1. R.S. 56:700.2(A)(4) and (C)(2) are hereby amended and reenacted and8
R.S. 56:700.6 is hereby enacted to read as follows: 9
§700.2. Establishment, continuance, and purposes of fund; geographical coverage;10
assessments11
A. There is hereby established in the state treasury a Fishermen's Gear12
Compensation Fund into which amounts paid pursuant to this Section shall be13
deposited. The fund shall be available to the secretary only for the following14
purposes:15
* * *16
(4) The On July 1, 2014, and on each July first thereafter and ending17 SB NO. 395
SLS 14RS-703 ORIGINAL
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Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.
after June 30, 2018, the state treasurer shall annually deposit, the amount of two1
hundred fifty thousand dollars into the Underwater Obstruction Removal Fund as2
provided in R.S. 30:101.9. The department shall seek to match these funds with3
whatever federal or state funds may be available for such purposes.4
* * *5
C.6
* * *7
(2)(a) To create a workable balance immediately upon establishment of the8
fund, the secretary shall be authorized and empowered to levy a fee upon each lessee9
of a state mineral lease and each grantee of a state right of way, for each lease and10
right of way in effect at the time of the effective date of this Part and which are11
located within the coastal zone boundary, in an amount of three hundred dollars. The12
secretary shall not be authorized and empowered to levy the fee upon a political13
subdivision of the state.14
(b) In addition, the The state treasurer shall be authorized to pay into the fund15
a sum in the amount of one hundred thousand dollars from proceeds remaining in the16
Bond Security and Redemption Fund after compliance with dedications of mineral17
royalties, leases, bonuses and rights of way and other sums payable to the state as18
lessor of mineral leases and grantor of rights of way as required pursuant to R.S.19
30:136(B) and R.S. 30:136.1(A), (B), and (C), after a sufficient amount has been20
allocated from the Bond Security and Redemption Fund to pay all obligations21
secured by the full faith and credit of the state which become due and payable within22
the fiscal year.23
* * *24
§700.6 Termination date25
The provisions of this Part shall terminate and have no effect after June26
30, 2018.27
Section 2. This Act shall become effective on July 1, 2014.28 SB NO. 395
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Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.
The original instrument and the following digest, which constitutes no part
of the legislative instrument, were prepared by McHenry Lee.
DIGEST
Allain (SB 395)
Present law establishes the Fishermen's Gear Compensation Fund to provide compensation
to commercial fishermen whose gear is damaged due to certain underwater obstructions.
Present law requires the treasurer to deposit $250,000 annually from the Fisherman's Gear
Compensation Fund to the Underwater Obstruction Removal Fund.
Proposed law changes present law to specify that on July 1, 2014, and on each July first
thereafter and ending June 30, 2018, the state treasurer shall deposit the $250,000 into the
Underwater Obstruction Removal Fund.
Present law authorizes the secretary of DWF to levy a fee of $300 on each lessee of a state
mineral lease and each grantee of a state right of way that are located within the coastal zone
boundary.
Proposed law exempts political subdivisions from the $300 fee.
Proposed law establishes June 30, 2018, as a termination date for the Fishermen's Gear
Compensation Fund.
Effective July 1, 2014.
(Amends R.S. 56:700.2(A)(4) and (C)(2); adds R.S. 56:700.6)