State lands: oil and gas leases: cost study.

Existing law establishes the State Lands Commission in the Natural Resources Agency. Existing law authorizes the commission to lease tide and submerged lands and beds of navigable rivers and lakes for purposes of the extraction of oil and gas, as provided. Existing law prohibits a state agency or state officer from entering into any new lease for the extraction of oil or gas from the California Coastal Sanctuary, except as provided. This bill would, contingent upon an appropriation of funds by the Legislature for this purpose, require the commission to develop, on or before December 31, 2024, a cost study that evaluates the fiscal impact of a voluntary relinquishment of any lease interests in actively producing state offshore oil and gas leases in state waters, as provided. The bill would require the commission, on or before December 31, 2023, to hold at least one public hearing related to the cost study, as provided. The bill would require the commission, on or before December 31, 2023, to submit a status update on the cost study to the Governor and the Legislature, as provided. The bill would require the commission, on or before December 31, 2024, to submit the cost study to the Governor and the Legislature, as provided. The bill would require the commission to make the cost study available on its internet website.