HB
1241 by Rep. Cameron
Henry would take money from a resolution of court claims by Louisiana
against BP for various damages because of the Macondo oil spill of 2010 according
to state law (although the case will be heard in federal court), even as the
company is on the hook already to the federal government, state government, and
individual citizens for around $15 billion. No one know what the amount will
be, or when it will be.
But HB 1241 anticipated it will be in the $1 billion range at least and come within the next fiscal year, and
has plans for the dough. Through some legal
machinations, the state is required to cough up about $356 million for the
Budget Stabilization Fund, and even if the proceeds are coming from something
unrelated to a state savings account, in the spirit of the BSF as a repository
of windfall money, that’s an appropriate and none-too-soon, given the legal
imperative, place for it to go.