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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 ENROLLED
SENATE BILL NO. 395
BY SENATOR ALLAIN
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
after June 30, 2018, the state treasurer shall annually deposit, the amount of two18
hundred fifty thousand dollars into the Underwater Obstruction Removal Fund as19
provided in R.S. 30:101.9. The department shall seek to match these funds with20
whatever federal or state funds may be available for such purposes.21
* * *22
C.23
* * *24
ACT No. 755 SB NO. 395 ENROLLED
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Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.
(2)(a) To create a workable balance immediately upon establishment of the1
fund, the secretary shall be authorized and empowered to levy a fee upon each lessee2
of a state mineral lease and each grantee of a state right of way, for each lease and3
right of way in effect at the time of the effective date of this Part and which are4
located within the coastal zone boundary, in an amount of three hundred dollars. The5
secretary shall not be authorized and empowered to levy the fee upon a political6
subdivision of the state.7
(b) In addition, the The state treasurer shall be authorized to pay into the fund8
a sum in the amount of one hundred thousand dollars from proceeds remaining in the9
Bond Security and Redemption Fund after compliance with dedications of mineral10
royalties, leases, bonuses and rights of way and other sums payable to the state as11
lessor of mineral leases and grantor of rights of way as required pursuant to R.S.12
30:136(B) and R.S. 30:136.1(A), (B), and (C), after a sufficient amount has been13
allocated from the Bond Security and Redemption Fund to pay all obligations14
secured by the full faith and credit of the state which become due and payable within15
the fiscal year.16
* * *17
§700.6. Termination date18
The provisions of this Part shall terminate and have no effect after June19
30, 2018.20
Section 2. This Act shall become effective on July 1, 2014.21
PRESIDENT OF THE SENATE
SPEAKER OF THE HOUSE OF REPRESENTATIVES
GOVERNOR OF THE STATE OF LOUISIANA
APPROVED: