Monitoring

AB 353: Oil Trust Fund

California State Capitol Building Sacramento by Christopher Padalinski
California State Capitol Building Sacramento by Christopher Padalinski

AB 353 (O’Donnell) Existing law establishes the Oil Trust Fund in the State Treasury to finance the costs of well abandonment, pipeline removal, facility removal, remediation, and other costs associated with removal of oil and gas facilities from the Long Beach tidelands. This bill allows for increases in the fund. STATUS: APPROVED in both houses as of August 30. On the Governor’s desk.