Shipbuilding and maritime related news from the Central Gulf Coast region
Wednesday, August 29, 2018
Gov. signs BP monies legislation
UPDATE: Less than an hour after the BP oil spill restitution monies bill passed the Mississippi House, Gov. Phil Bryant signed the $200M per year infrastructure bill and celebrated the end of what he called a historic special session. (Source: AP 08/29/18)
Previous blog: Mississippi state senators approved a bill by a 42-8 vote that divides up to $700M in BP oil spill restitution monies during the late night of Aug. 28's special session. They also set aside more than $100M overall for special state-wide projects. The measure moves to the House for more debate and potential wrangling Aug. 29. "I think it's safe to say the majority of benefits are to the coast," Senate Finance Committee Chairman Joey Fillingane (R-Sumrall) told The Associated Press. BP is paying a total of $750M to Mississippi, through 2033, to make up for lost tax revenue from the 2010 Deepwater Horizon oil spill in the Gulf of Mexico. Lawmakers have already spent $52.4M, but about $100M remains in the bank, and 15 annual payments of $40M per year is to begin in 2019. Mississippi is likely to get more than $2.4B from multiple sources to pay for environmental and economic damages from the spill. Senate Bill 2002 would give at least 72 percent of the monies to the Gulf Coast counties of Hancock, Harrison, Jackson, and parts of George, Stone and Pearl River. Twenty-eight percent would go the rest of Mississippi’s 76 counties on projects some lawmakers have deemed as pork. Most of those projects are spread across the state. A Jackson senator complained the bill only included two projects for his region worth a little more than $1M. The largest monies include new roads in Rankin and Madison counties - $8M apiece. Many projects are in the districts of influential committee chairmen, claimed Sen. David Blount (D-Jackson). "These projects are being decided based on backroom deals," Blount, who opposed the bill, told The AP. About $27M would go to coast projects while $9M would remain in a state savings account. Some House members oppose the division, arguing that the coast has no special claim to the money because the area was supposed to replace lost tax revenue that would have been spent in state budgets. Rep. Tracy Arnold (R-Booneville) is circulating a proposal to divide the monies between cities and counties based on their share of Mississippi's population. Mississippi Gulf Coast leaders have repeatedly called for ways to ensure the monies are used for high-impact projects. (Source: The Associated Press 08/29/18)
