The Mississippi legislature ended a special session last month by agreeing to distribute $750 million of BP Oil Spill settlement money. Because so many of my clients here in Mississippi were affected by the Spill and continue to live with its aftermath, I wanted to go over the terms of this decision and its effects. I have linked to a detailed article explaining this legislative agreement at the end of this blog post if you are interested in delving deeper into this issue.
Were you affected by the BP Deepwater Horizon oil spill? Did you participate in the cleanup effort or come into contact with dispersants? Did you rent out your boat to those participating in the cleanup effort? Any of those activities may entitle you to a portion of settlement funds. If you think you are entitled to some of the BP Deepwater Horizon settlement, having experienced counsel help you attain your fair share is critical. Barrett Law has expertise in Gulf oil spill litigation and has the experience to help you through this process. Contact us now at (800) 707-9577.
The Special Session
The Mississippi Legislature adjourned on August 25 with the House’s approval of a bill that distributes $750 million in instalments across the state over the next 15 years. The bill was not unanimous in either the House or Senate, with the sticking point being how much money coastal communities will receive. Coastal communities have already received $1 billion from the Settlement, so representatives from the non-coastal communities argued that coastal communities should receive less out of this $750 million distribution. That minority sentiment failed to gain traction and did not prevent the approval of the bill.
The 75 per cent of future BP settlement payments will go to a Gulf Coast Restoration Fund — for projects in the six southernmost counties — and the remaining 25 per cent to a State BP Settlement Fund, for projects statewide. The Mississippi Development Authority will administer the Gulf Coast Restoration Fund, with a seven-member advisory board approving applications for projects.
Mississippi received its first settlement payment of $150 million from BP in 2016 and has spent that down to about $97 million. For the next 15 years, through 2033, Mississippi will receive instalments of $40 million a year. The entire Gulf Coast region of Mississippi will receive 75% of that amount or $30 million of the $40 million each of those years. The remaining $10 million will be disbursed to municipalities and counties around the state.
Obviously, the pressing question is whether this $750 million distribution will actually go to the folks in Mississippi who continue to live with the spill’s ongoing effects. My clients have severe and lingering health effects. Their homes and livelihoods were altered forever. While Mississippi will receive a tremendous amount of reparation money in the ensuing years, our grandchildren will be right to judge us if it is not spent with prudence and wisdom.
What Should You Do If You Were Injured or Harmed By the 2010 BP Oil Spill?
If you were harmed as a result of the 2010 BP Deepwater Horizon Oil Spill or its cleanup, you might be due compensation for your losses. You may have heard that it is too late to file a claim or that there is no longer a way to attain compensation for your damages. The only way to understand your options is to hire an attorney with extensive experience in getting BP Deepwater Horizon Oil Spill claims paid.
Call Barrett Law now, an experienced Mississippi BP Oil Spill law firm, to represent you if you were harmed as a result of the spill.
Barrett Law has the experience to take on oil spill defense attorneys that are focused on denying your compensation for the harm you experienced. Contact us now at (800) 707-9577.
