Establishes the Oil and Gas Severance Subfund within the Parish Transportation Fund for road and bridge maintenance.
The bill creates the Oil and Gas Severance Subfund within the Parish Transportation Fund. It mandates that the state treasurer credit to the subfund at least five percent of the total avails from state severance taxes on oil and gas, starting July 1, 2026. The subfund will also include all monies made available from funds annually appropriated by the legislature. The funds must be used to restore and maintain public roads and bridges within a parish that facilitate oil and gas industry operations. The bill prohibits the use of these funds for bond issuances.
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