A decision about how to spend seven hundred and fifty million dollars in BP oil spill damage payments may not be reached this year. Mississippi lawmakers let Senate Bill 2634, a proposed plan for spending the oil spill settlement money, die at a recent deadline for action after the House Appropriations Committee did not bring it up.
Some House members from the Gulf Coast region said that the proposed bill was not specific enough about how the money would get distributed, so they did not feel comfortable endorsing it. A group of sixteen representatives from the Gulf Coast declared that it was better not to take any action than to pass a bill that would not amount to any real action being taken. Some lawmakers fear that the lack of a decision could lead to a decrease in the amount of money that will be spent on the Gulf Coast, as opposed to elsewhere in the state, but there has been no movement in that direction. Opponents of the now dead bill say that there was not enough protection in the bill to prevent money from being diverted to other parts of the state besides the Gulf Coast. Without a plan for spending, though, the money remains exposed to potential spending outside of the Gulf Coast area.
The BP oil spill settlement money that the state of Mississippi has received to date is currently sitting in a general budget account. Payments from BP into the account will continue for seventeen years into the future until the full amount is paid. Last year, lawmakers made plans for how to spend approximately forty million dollars of the settlement money. House members want to be sure that spending is more focused on projects that will create tax revenue and less focused on infrastructure projects.
It is possible that no additional action will be taken this year as far as additional decisions about the settlement money are concerned, but it is also possible that a special session could be called to address the issue. It is also possible that agreement could be reached regarding how to spend a portion of the funds, just like they did last year.
Barrett Law PLLC: Helping Mississippi Residents Recover from the BP Oil Spill
The BP oil spill caused massive amounts of damage and destruction to Mississippi’s Gulf Coast and throughout the entire state. Fortunately, the Gulf Coast region is beginning to recover its health and well-being, but the road to recovery for businesses and individuals who were affected by the spill is not easy. The health and economic impacts of the oil spill are enormous, and bringing the Gulf Coast back to life will take time and effort. If you have questions about the BP oil spill, the Mississippi BP Oil Spill Attorneys at Barrett Law PLLC might be able to help you. Call us today at 1 (800) 707-9577, to set up a free, initial consultation.
