State tide and submerged lands: mineral extraction leases: revenues.

Existing law authorizes the State Lands Commission to lease tide and submerged lands and beds of navigable rivers and lakes for the extraction of oil and gas, as specified. Existing law, with specified exceptions, generally requires the State Lands Commission, on and after July 1, 2006, to deposit all revenue, money, and remittances, derived from mineral extraction leases on state tide and submerged lands, including tidelands oil revenue, into the General Fund, to be available upon appropriation by the Legislature for specified purposes. This bill would require that, out of funds deposited into the General Fund, at least $6,000,000, but no more than $10,000,000, be deposited into the Coastal Adaptation Fund to the extent that an appropriation for its purposes is included in the annual Budget Act. This bill would create the Coastal Adaptation Fund in the State Treasury, and would authorize the expenditure of moneys in the fund, in an amount not to exceed $10,000,000 annually, by the Ocean Protection Council, the Department of Fish and Wildlife, the California Coastal Commission, the State Coastal Conservancy, the State Lands Commission, and the San Francisco Bay Conservation and Development Commission, upon appropriation by the Legislature in the annual Budget Act, for activities that prepare, plan, and implement measures based upon the best available scientific information, that are designed to address and adapt to sea level rise and coastal climate change. This bill would require that funding made available pursuant to these provisions be in accordance with the 2009 California Climate Adaptation Strategy, as specified. The bill would require the Natural Resources Agency to ensure that moneys expended from the fund are in compliance with the strategy and would authorize the agency to require each of the above-listed entities to provide information necessary to implement these provisions. The bill would require the agency to make certain information regarding activities funded by the Coastal Adaptation Fund available on a publicly accessible Internet Web site. The bill would also make various findings and declarations.