SLS 19RS-135 ORIGINAL 2019 Regular Session SENATE BILL NO. 22 BY SENATOR JOHNS FUNDS/FUNDING. Dedicates funds from litigation filed by the state to recover damages caused by an ethylene dichloride (EDC) spill in the Calcasieu River in Lake Charles. (gov sig) 1 AN ACT 2 To enact Subpart L of Part II-A of Chapter 1 of Subtitle I of Title 39 of the Louisiana 3 Revised Statutes of 1950, to be comprised of R.S. 39:100.35, relative to special 4 funds; to create the Calcasieu River Bridge Fund as a special fund in the state 5 treasury; to provide for the dedication of certain revenues and for the deposit of and 6 use of monies in the fund; to provide for an effective date; and to provide for related 7 matters. 8 Be it enacted by the Legislature of Louisiana: 9 Section 1. Subpart L of Part II-A of Chapter 1 of Subtitle I of Title 39 of the 10 Louisiana Revised Statutes of 1950, comprised of R.S. 39:100.35, is hereby enacted to read 11 as follows: 12 SUBPART L. CALCASIEU RIVER BRIDG E FUND 13 ยง100.35. Calcasieu River Bridge Fund 14 A. There shall be established in the state treasury as a special permanent 15 trust fund named the Calcasieu River Bridge Fund, hereinafter referred to as 16 the "fund". After allocation of money to the Bond Security and Redemption 17 Fund as provided in Article VII, Section 9(B) of the Constitution of Louisiana, Page 1 of 3 Coding: Words which are struck through are deletions from existing law; words in boldface type and underscored are additions. SB NO. 22 SLS 19RS-135 ORIGINAL 1 and notwithstanding any other provision of law to the contrary, the treasurer 2 shall deposit in and credit to the fund, the proceeds received by the state of 3 Louisiana from the settlement, judgment, or final disposition of the litigation 4 filed by the state of Louisiana or the Louisiana Department of Transportation 5 and Development against Conoco, Phillips 66, or ConocoPhillips to recover the 6 damages sustained by the state from the approximately one million, seven 7 hundred thousand pounds of ethylene dichloride (EDC) spilled by Conoco near 8 the existing Interstate 10 bridge on the west bank of the Calcasieu River in 1994. 9 B. All unexpended and unencumbered monies in the fund at the end of 10 the fiscal year shall remain in the fund. The monies in the fund shall be invested 11 by the state treasurer in the same manner as monies in the state general fund, 12 and interest earned on the investment of those monies shall be credited to the 13 fund. 14 C. Subject to an appropriation by the legislature, monies in the fund 15 shall be used solely for the planning and construction of a new Interstate 10 16 Calcasieu River Bridge in Lake Charles. 17 Section 2. This Act shall become effective upon signature by the governor or, if not 18 signed by the governor, upon expiration of the time for bills to become law without signature 19 by the governor, as provided by Article III, Section 18 of the Constitution of Louisiana. If 20 vetoed by the governor and subsequently approved by the legislature, this Act shall become 21 effective on the day following such approval. The original instrument and the following digest, which constitutes no part of the legislative instrument, were prepared by Martha S. Hess. DIGEST SB 22 Original 2019 Regular Session Johns Proposed law creates the Calcasieu Parish Bridge Fund as a special fund in the state treasury. Proposed law provides that after allocation of money to the Bond Security and Redemption Fund as provided in the Louisiana Constitution, and notwithstanding any other provision of law to the contrary, the treasurer shall deposit in and credit to the fund, the proceeds received by the state of Louisiana from the settlement, judgment, or final disposition of the litigation filed by the state or DOTD against Conoco, Phillips 66, or ConocoPhillips to recover the damages sustained by the state from a 1994 spill of approximately 1.7 million pounds of ethylene dichloride (EDC) by Conoco near the existing I-10 bridge on the west bank of the Page 2 of 3 Coding: Words which are struck through are deletions from existing law; words in boldface type and underscored are additions. SB NO. 22 SLS 19RS-135 ORIGINAL Calcasieu River. Proposed law provides that all unexpended and unencumbered monies in the fund at the end of the fiscal year shall remain in the fund and the treasurer shall invest the monies in the fund in the same manner as monies in the state general fund, and interest earned on the investment of monies shall be credited to the fund. Proposed law further provides that subject to legislative appropriation, monies in the fund shall be used solely for the planning and construction of a new I-10 Calcasieu River Bridge in Lake Charles. Effective upon signature of the governor or lapse of time for gubernatorial action. (Adds R.S. 39:100.35) Page 3 of 3 Coding: Words which are struck through are deletions from existing law; words in boldface type and underscored are additions.