Gov. John Bel Edwards has signed one of the last outstanding bills from the legislative session, steering $700 million in oil spill recovery money to road, bridge and port projects.
The Democratic governor touted the plans at a signing event June 28 in West Baton Rouge Parish, near the site of one project in the bill, a planned highway connector to alleviate traffic snarls.
Louisiana is receiving yearly payments of $53.3 million through 2034 from BP as compensation for economic damage from the massive 2010 Gulf oil spill. The payments are separate from recovery money slated for coastal restoration.
Lawmakers previously had earmarked the money for trust funds. Instead, the dollars will pay for 10 infrastructure projects, under the bill by Houma Republican Rep. Tanner Magee.
The legislation is House Bill 578.
Topics Legislation Louisiana
Was this article valuable?
Here are more articles you may enjoy.
Allianz’s PIMCO, L&G Sued in Scrap Over €1.2 Billion Brussels Tower 
First Brands Hit by $286 Million Claim for Alleged Tariffs Fraud 
Atlantic Hurricane Season Forecast Milder Than Normal Thanks to El Nino 
Acrisure to Cut 2,250 Employees, Citing Advances in Technology and AI 
