A JOINT RESOLUTION to authorize the Revenue Laws Study Committee and the environmental review commission to study what sources of revenue, if any, could accrue for the benefit of north carolina in the event the offshore drilling exploration for oil or natural gas in coastal waters off North carolina were to take place in the future.
Be it resolved by the House of Representatives, the Senate concurring:
SECTION 1.  The Revenue Laws Study Committee may study what possible sources of revenue, if any, could accrue to the benefit of the State in the event that the offshore drilling exploration for oil or natural gas were to take place in coastal waters off North Carolina sometime in the future.  The Revenue Laws Study Committee may consider any possible revenue that could accrue were the offshore drilling exploration for oil or natural gas to take place in waters within the jurisdiction of North Carolina, within the jurisdiction of another state, or within federal jurisdiction.  The Revenue Laws Study Committee may consider what, if any, State income taxes, local property taxes, or privilege taxes, or any other revenue sources would be appropriate to impose under these circumstances and upon whom. The Revenue Laws Study Committee may consider any other issues related to raising revenue for the State or for local governments within the State under these circumstances, except the Revenue Laws Study Committee shall not consider the desirability or the feasibility of encouraging the offshore drilling exploration for oil or natural gas in waters off the coastline of North Carolina. The Revenue Laws Study Committee shall report the results of this study in its report due to the General Assembly under G.S. 120‑70.106 at the beginning of the 2010 Regular Session of the 2009 General Assembly. This report shall include any findings, recommendations, legislative proposals, or proposals for administrative action.
SECTION 2.  The Environmental Review Commission may study what possible sources of revenue, if any, could accrue to the benefit of the State in the event that the offshore drilling exploration for oil or natural gas were to take place in coastal waters off North Carolina sometime in the future.  The Environmental Review Commission may consider any possible revenue that could accrue were the offshore drilling exploration for oil or natural gas to take place in waters within the jurisdiction of North Carolina, within the jurisdiction of another state, or within federal jurisdiction.  The Environmental Review Commission may consider what, if any, environmental permit fees or any assessments would be appropriate under these circumstances. The Environmental Review Commission may consider any other issues related to raising revenue for the State or for local governments within the State under these circumstances, except the Environmental Review Commission shall not consider the desirability or the feasibility of encouraging the offshore drilling exploration for oil or natural gas in waters off the coastline of North Carolina. No later than April 15, 2010, the Environmental Review Commission shall report the results of this study to the Finance Committee of the Senate and the Finance Committee of the House of Representatives. This report shall include any findings, recommendations, legislative proposals, or proposals for administrative action.
SECTION 3.  This resolution is effective upon ratification.