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Oil revenue: Oil Trust Fund.

It became law on Sep 25, 2024.

CA SB 1425 · Senate Bill · 2023–2024

Stage
Became law
Started in
Senate
Sponsor
1
Latest action
Sep 25, 2024

What it does

Existing law establishes rules for how revenue from oil and gas operations on the Long Beach tidelands is divided between the City of Long Beach and the State of California. Existing law establishes the Oil Trust Fund in the State Treasury and appropriates the moneys in the fund to the State Lands Commission commencing when specified requirements are met. Existing law requires the commission to expend the moneys in the fund to finance the costs of well abandonment, pipeline removal, facility removal, remediation, and other costs associated with removal of oil and gas facilities from the Long Beach tidelands that are not the responsibility of other parties. Existing law requires the…

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Where it stands

This bill passed and is now law.

  1. Introduced (Done)

  2. Committee (Done)

  3. Floor (Done)

  4. Law (Done)

    Sep 25, 2024

What moved

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Who is involved

Sponsors

The lawmakers who put their names on it, lead sponsors first.

Where it goes next

Once a bill is decided, the questions are about what is done with it in California.

Work with this bill

Oil revenue: Oil Trust Fund. | 52