La. governor approves $1 billion earmark of BP settlement money
Louisiana governor, Bobby Jindal, has approved setting aside $1 billion in BP oil spill recovery money to make up the state’s “rainy day” fund, plus an elderly trust fund that has gone through budget cuts for the past few years.
Jindal’s office announced Jun. 13 that the oil spill fund will be used to balance next year’s state budget.
This amount is different from other civil penalties from environmental law violations; the penalty for these violations will be earmarked for coastal restoration and protection endeavors.
The oil spill money is still undergoing federal litigation and its date of availability to the state is still unknown.
The Gulf of Mexico oil spill, caused by BP’s Deepwater Horizon oil well explosion, has affected the lives of thousands along the coast. If you have been adversely affected by the oil spill and are still having trouble receiving the compensation you believe you deserve, our knowledgeable attorneys at the Williams Kherkher Law Group may be able to help. Call our offices at 800-220-9341 if you are interested in our legal help.