California AB1448 regulates oil and gas extraction leases on state-owned tide and submerged lands within the California Coastal Sanctuary.

California AB1448 amends the Public Resources Code to allow the commission to enter into oil or gas extraction leases on state-owned tide and submerged lands in the California Coastal Sanctuary if oil or gas deposits are being drained by adjacent federal lands. The commission cannot enter into leases in areas with public trust lands or the Pacific Outer Continental Shelf. The commission must consider several factors before approving lease renewals, extensions, amendments, or modifications, including the assignee's compliance history and financial capability.

California AB1448 regulates oil and gas extraction leases on state-owned tide and submerged lands within the California Coastal Sanctuary.

California AB1448 amends the Public Resources Code to allow the commission to enter into oil or gas extraction leases on state-owned tide and submerged lands in the California Coastal Sanctuary if oil or gas deposits are being drained by adjacent federal lands. The commission cannot enter into leases in areas with public trust lands or the Pacific Outer Continental Shelf. The commission must consider several factors before approving lease renewals, extensions, amendments, or modifications, including the assignee's compliance history and financial capability.