Offshore natural gas & oil resources; Va. Offshore Energy Emergency Response Fund, established. (SB25)

Introduced By

Sen. Bryce Reeves (R-Spotsylvania) with support from co-patron Del. Tom Garrett (R-Louisa)

Progress

Introduced
Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law

Description

Offshore natural gas and oil royalties; establishment of Virginia Offshore Energy Emergency Response Fund and Community College Energy Exploration and Development Fund. Sets out the recipients, proportions, and payment order for the distribution of royalties received by the Commonwealth as a result of offshore natural gas and oil drilling and exploration. The bill establishes the Virginia Offshore Energy Emergency Response Fund and directs to it the first $50 million in royalties, requiring that additional royalties maintain the fund at $50 million if moneys are withdrawn from it. Of the subsequent royalties, the bill directs 20 percent to the Transportation Trust Fund; 10 percent to the Virginia Coastal Energy Research Consortium; 10 percent to the Community College Energy Exploration and Development Fund, a fund established by the bill; 20 percent to the Department of Environmental Quality; and 40 percent to the general fund, with an amount to be determined applied toward commerce and infrastructure in the Port of Virginia Economic and Infrastructure Development Zone. Read the Bill »

Outcome

Bill Has Passed

History

DateAction
12/11/2013Prefiled and ordered printed; offered 01/08/14 14100016D
12/11/2013Referred to Committee on Agriculture, Conservation and Natural Resources
01/16/2014Impact statement from DPB (SB25)
01/16/2014Reported from Agriculture, Conservation and Natural Resources (9-Y 3-N) (see vote tally)
01/16/2014Rereferred to Finance
01/23/2014Impact statement from DPB (SB25)
01/29/2014Reported from Finance with substitute (16-Y 0-N) (see vote tally)
01/29/2014Committee substitute printed 14104495D-S1
01/30/2014Constitutional reading dispensed (40-Y 0-N)
01/31/2014Read second time
01/31/2014Reading of substitute waived
01/31/2014Committee substitute agreed to 14104495D-S1
01/31/2014Engrossed by Senate - committee substitute SB25S1
02/03/2014Read third time and passed Senate (31-Y 9-N)
02/03/2014Reconsideration of passage agreed to by Senate (39-Y 0-N)
02/03/2014Passed Senate (31-Y 9-N)
02/07/2014Placed on Calendar
02/07/2014Read first time
02/07/2014Referred to Committee on Commerce and Labor
02/07/2014Impact statement from DPB (SB25S1)
02/18/2014Reported from Commerce and Labor (20-Y 1-N) (see vote tally)
02/20/2014Read second time
02/21/2014Passed by for the day
02/24/2014Read third time
02/24/2014Passed House (67-Y 32-N)
02/24/2014VOTE: PASSAGE (67-Y 32-N) (see vote tally)
02/26/2014Enrolled
02/26/2014Bill text as passed Senate and House (SB25ER)
02/26/2014Signed by Speaker
02/27/2014Impact statement from DPB (SB25ER)
02/28/2014Signed by President
03/24/2014G Approved by Governor-Chapter 293 (effective 7/1/14)
03/24/2014G Acts of Assembly Chapter text (CHAP0293)

Video

This bill was discussed on the floor of the General Assembly. Below is all of the video that we have of that discussion, 3 clips in all, totaling 5 minutes.

Comments

Carol Lindstrom writes:

I have to wonder if the money spent by the State for this clean up would be billed to the agency causing the problem. While it may be nice to have a "fund" for such, taxpayers should not be paying the price for businesses' problems. Any funds used for such cleanup activities should be compensated for by the company. Additionally, there is a 1999 report http://www.environmental-research.com/erc_papers/ERC_paper_1.pdf that gives some good comparisons on the costs and response levels by companies in these instances. Let's not simply throw money at a problem caused by someone else without making sure that such a law clearly paves the way for demanding and receiving just compensation from the causative agent (company). There are many other areas where this money could be spent.

Erica Gray writes:

Virginians do not want off shore drilling for gas or oil!

It simply is NOT worth the risks. This bill is not needed.