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2014 SESSION

• | print version

SB 25 Offshore natural gas & oil resources; Va. Offshore Energy Emergency Response Fund, established.

Introduced by: Bryce E. Reeves | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED SENATE: (all summaries)

Offshore natural gas and oil royalties; establishment of Virginia Offshore Energy Emergency Response Fund. Establishes the Virginia Offshore Energy Emergency Response Fund and directs to it the first $50 million in royalties received by the Commonwealth as the result of offshore natural gas and oil drilling and exploration.  Additional revenues and royalties will be applied to maintain the Fund at $50 million if moneys are withdrawn from the Fund. After the Fund reaches $50 million, excess revenues and royalties will be transferred to the general fund annually.

FULL TEXT

• 12/11/13  Senate: Prefiled and ordered printed; offered 01/08/14 14100016D  pdf | impact statement
• 01/29/14  Senate: Committee substitute printed 14104495D-S1  pdf | impact statement
• 02/26/14  Senate: Bill text as passed Senate and House (SB25ER)  pdf | impact statement
• 03/24/14  Governor: Acts of Assembly Chapter text (CHAP0293)  pdf

HISTORY

• 12/11/13  Senate: Prefiled and ordered printed; offered 01/08/14 14100016D
• 12/11/13  Senate: Referred to Committee on Agriculture, Conservation and Natural Resources
• 01/16/14  Senate: Reported from Agriculture, Conservation and Natural Resources (9-Y 3-N)
• 01/16/14  Senate: Rereferred to Finance
• 01/29/14  Senate: Reported from Finance with substitute (16-Y 0-N)
• 01/29/14  Senate: Committee substitute printed 14104495D-S1
• 01/30/14  Senate: Constitutional reading dispensed (40-Y 0-N)
• 01/31/14  Senate: Read second time
• 01/31/14  Senate: Reading of substitute waived
• 01/31/14  Senate: Committee substitute agreed to 14104495D-S1
• 01/31/14  Senate: Engrossed by Senate - committee substitute SB25S1
• 02/03/14  Senate: Read third time and passed Senate (31-Y 9-N)
• 02/03/14  Senate: Reconsideration of passage agreed to by Senate (39-Y 0-N)
• 02/03/14  Senate: Passed Senate (31-Y 9-N)
• 02/07/14  House: Placed on Calendar
• 02/07/14  House: Read first time
• 02/07/14  House: Referred to Committee on Commerce and Labor
• 02/18/14  House: Reported from Commerce and Labor (20-Y 1-N)
• 02/20/14  House: Read second time
• 02/21/14  House: Passed by for the day
• 02/24/14  House: Read third time
• 02/24/14  House: Passed House (67-Y 32-N)
• 02/24/14  House: VOTE: PASSAGE (67-Y 32-N)
• 02/26/14  Senate: Enrolled
• 02/26/14  Senate: Bill text as passed Senate and House (SB25ER)
• 02/26/14  House: Signed by Speaker
• 02/28/14  Senate: Signed by President
• 03/24/14  Governor: Approved by Governor-Chapter 293 (effective 7/1/14)
• 03/24/14  Governor: Acts of Assembly Chapter text (CHAP0293)