The 20.6 Million Dollar Artificial Reef Heist?

Artificial Reefs are also known as Dynamic Reefs when applied to resort development waterfronts and tourism.

At Reef Worlds we have been leading the Dynamic Reef Revolution.

BATON ROUGE — Despite opposition from the energy industry, a top business group, a recreational fishing association and the state Wildlife and Fisheries Commission, a House committee advanced legislation Monday that will sweep $20.6 million out of the Artificial Reef Development Fund.

But opponents to the move argue the fund will only have roughly $14 million in it when the administration makes its transfer, should the Legislature oblige, before the next budget takes effect July 1.

As a result, they predict Gov. Bobby Jindal’s administration intends to take all of the money out of the fund, leaving it at a zero balance until it gradually builds back up.

Michael DiResto, assistant commissioner of policy and communications for the Division of Administration, said late Monday the administration is not planning to adjust the figure of $20.6 million downward and is comfortable with the legislation as passed by the House Appropriations Committee.

The reef fund contains payments made primarily by oil and gas companies that are looking to save money by “reefing” a rig, rather than the costlier alternative of pulling it inshore to have scrapped.

Several conservation groups say they also support the rigs-to-reefs program, bankrolled by the fund, because it creates sustainable underwater habitats. 

House Bill 452 by Appropriations Chairman Jim Fannin, D-Jonesboro, takes $519 million out of several dedicated funds like the reef fund to help balance the budget, chiefly benefitting higher education. 

The committee approved the bill by a vote of 13-10 before endorsing the $24 billion state spending plan, Fannin’s House Bill 1. 

For the remainder of the session, which ends June 6, the two bills will be closely connected in all coming budget debates. 

Complete story here.