BP Oil Spill Settlements
Yesterday the Mobile County Commission held an emergency meeting to accept a final settlement for the Mobile County Commission of all claims against BP as a result of the Deepwater Horizon oil spill. The $1.8 million settlement is compensation for Mobile County's economic losses resulting from the 2010 oil spill. The one-time allocation of funds will be deposited in the county's General Fund account and allocated through the FY 2016 budget process.
Also, on July 2, 2015, Governor Robert Bentley announced a $18.732 billion BP settlement (agreement in principle) reportedly worth $2.3 billion to Alabama. The funds are to be allocated over an 18-year payment period and will be divided into four distinct pots of money:
1) The Clean Water Act penalties via RESTORE ACT ($599 million)
2) Natural resource damages (NRDA) ($296 million)
3) State economic loss ($1 billion to the state general fund)
4) Local government economic loss (i.e. local sales tax)
Click Here for additional information regarding the BP settlement.
When the special session of the Alabama State Legislature begins on August 3, 2015, members of the Mobile and Baldwin County legislative delegations are expected to petition the state to reallocate up to $500 million of the state's $1 billion settlement money back to Mobile and Baldwin Counties to assist the coastal communities that were directly impacted by the oil spill. According to legislators, the rationale for the request is that the economic losses to the State of Alabama were estimated to be approximately $500 million as opposed to the $1 billion settlement. Other senate legislation has already been filed that, if approved, would either apply the state's BP settlement to debts owed by the General Fund or to repay the Alabama Trust Fund (rainy day account) for transfers that were used to keep the General Fund afloat.
As the state deals with this issue as well as the projected FY 2016 $200 plus million budget shortfall, it will likely be a very intense special session. Click Here for contact information for members of the Mobile County legislative delegation.
Stay cool and have a great weekend!
Best Regards,
Connie
MOBILE COUNTY SUMMER YOUTH EMPLOYMENT INTERNSHIP PROGRAM
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Commissioner Hudson addresses graduates at a luncheon for the Mobile County Summer Youth Employment Internship Program, sponsored in part by the Mobile County Commission.
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2015 DISTINGUISHED YOUNG WOMEN
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Commissioner Hudson presented the 2015 Distinguished Young Woman award to Alaska's M�ire Nakada on Saturday, June 27th at the Distinguished Young Women National Finals.
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