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2009 SESSION

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097837712
HOUSE BILL NO. 1633 House Amendments in [ ] – February 4, 2009 A BILL to amend the Code of Virginia by adding a section numbered 67-301, relating to royalties from offshore drilling. ---------- Patron Prior to Engrossment--Delegate Saxman ---------- Referred to Committee on Appropriations ----------

Be it enacted by the General Assembly of Virginia:

1. That the Code of Virginia is amended by adding a section numbered 67-301 as follows:

§ 67-301. Royalties from offshore natural gas and oil resources.

Any revenues and royalties paid to the Commonwealth as a result of offshore natural gas and oil drilling shall be deposited and used for the following purposes:

1. [ Forty Thirty-five ] percent of such revenues and royalties shall be appropriated to the Transportation Trust Fund established pursuant to § 33.1-23.03:1;

2. [ Forty Thirty-five ] percent of such revenues and royalties shall be appropriated exclusively for the purpose of funding the implementation of the plan, developed by the Secretary of Natural Resources pursuant to § 62.1-44.117, for the cleanup of the Chesapeake Bay and other waters in the Commonwealth designated as impaired by the U.S. Environmental Protection Agency;

3. [ Ten Five ] percent of such revenues and royalties shall be appropriated to the Renewable Electricity Production Grant Fund established pursuant to § 67-902 or other energy efficiency incentives as may be provided in the general appropriation act; and

4. Ten percent of such revenues and royalties shall be appropriated to the Virginia Coastal Energy Research Consortium established pursuant to § 67-600 or other energy research initiatives at state institutions of higher education as may be provided in the general appropriation act.

[ 5. Five percent of such revenues and royalties shall be appropriated to the Biofuels Production Fund established pursuant to § 45.1-393.]

[ 6. Ten percent of such resources and royalties shall be appropriated to the Home Energy Assistance Fund established pursuant to § 63.2-805. ]