Offshore oil and gas royalties; obligates state to distribute royalty payments therefrom. (SB1122)
Introduced By
Sen. Ken Cuccinelli (R-Fairfax)
Progress
✓ |
Introduced |
☐ |
Passed Committee |
☐ |
Passed House |
☐ |
Passed Senate |
☐ |
Signed by Governor |
☐ |
Became Law |
Description
Offshore oil and gas royalties. Obligates the state to distribute at least 50 percent of all royalty payments received from offshore oil and gas production equally among residents of the Commonwealth. The other 50 percent shall be credited to the Transportation Trust Fund. Read the Bill »
Outcome
Bill Has Failed
History
| Date | Action |
|---|---|
| 01/09/2007 | Prefiled and ordered printed; offered 01/10/07 070971720 |
| 01/09/2007 | Referred to Committee on Finance |
| 01/18/2007 | Impact statement from DPB (SB1122) |