Offshore natural gas and oil; allocation of royalties. (HB1709)
Introduced By
Del. Glenn Davis (R-Virginia Beach)
Progress
✓ |
Introduced |
✗ |
Passed Committee |
☐ |
Passed House |
☐ |
Passed Senate |
☐ |
Signed by Governor |
☐ |
Became Law |
Description
Allocation of offshore natural gas and oil royalties. Changes the manner in which the revenues and royalties from offshore natural gas and oil drilling and exploration that exceed $50 million are distributed. Currently, an amount up to $50 million is deposited into the Virginia Offshore Energy Emergency Response Fund, and any funds in excess of this amount are deposited into the general fund. The bill allocates 50 percent of the amount of the excess to the general fund, 25 percent to K-12 capital projects, and 25 percent to operational support for K-12. Read the Bill »
Outcome
Bill Has Failed
History
Date | Action |
---|---|
01/12/2015 | Committee |
01/12/2015 | Prefiled and ordered printed; offered 01/14/15 15102161D |
01/12/2015 | Referred to Committee on Appropriations |
01/19/2015 | Impact statement from DPB (HB1709) |
01/21/2015 | Assigned App. sub: Elementary & Secondary Education |
01/27/2015 | Subcommittee recommends laying on the table |
02/10/2015 | Left in Appropriations |