Bill Summary for S 709 (2011-2012)

Summary date: 

May 10 2011

Bill Information:

View NCGA Bill Details2011-2012 Session
Senate Bill 709 (Public) Filed Tuesday, April 19, 2011
TO INCREASE ENERGY PRODUCTION IN NORTH CAROLINA TO DEVELOP A SECURE, STABLE, AND PREDICTABLE ENERGY SUPPLY TO FACILITATE ECONOMIC GROWTH, JOB CREATION, AND EXPANSION OF BUSINESS AND INDUSTRY OPPORTUNITIES AND TO ASSIGN FUTURE REVENUE FROM ENERGY EXPLORATION, DEVELOPMENT, AND PRODUCTION OF ENERGY RESOURCES IN ORDER TO PROTECT AND PRESERVE THE STATE'S NATURAL RESOURCES, CULTURAL HERITAGE, AND QUALITY OF LIFE.
Intro. by Rucho, Brown, Tucker.

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Bill summary

Senate amendment makes the following changes to 2nd edition. Amends and adds various ‘whereas’ clauses. Directs 15% (previously 20%) of revenues and royalties be credited to the Highway Trust Fund. Directs 10% (previously 5%) of revenues and royalties be transferred to the Community Colleges System Office. Adds new section encouraging the Governor to join the governors of Alaska, Texas, Louisiana, Mississippi, and Virginia and any others who may sign on to the Outer Continental Shelf Governors Coalition.

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