The carbon capture bill could generate revenue for Iberville and other parishes

Parishes could receive specific revenues as part of the proposed mandate in State House Bill 934

A bill authored by state Rep. Jeremy LaCombe would provide revenue allocation for carbon dioxide storage on state lands and aquatic soils.

House Bill 934 would require local governments to receive 30 percent of revenue if a carbon capture facility is built on state land.

The bill is awaiting passage as Capio Sequestration plans to begin work on the Sherburne Sequestration facility in the northern parishes of Iberville, Pointe Coupee and St. Martin.

“This could be a huge game changer – potentially millions of dollars if they build that facility and start removing CO2 there,” LaCombe said. “It’s a huge bill, and almost everyone supports it now. If this comes on board, it could be a huge effort for the parish when they build the facility.”

The permit has already been granted to Grön Fuels, which is building a $9.2 billion biodiesel plant at the Port of Greater Baton Rouge, near Port Allen.

Grön is building the facility, which will operate as Magnolia Renewable Fuel LLC.

It expects to produce up to 1 billion gallons of jet fuel, renewable diesel and other low-carbon energy projects annually.

The plant will use a variety of vegetable and cooking oils to produce renewable fuel, which is said to be cleaner than conventional diesel.

For Air Products’ Lake Maurepas facility, revenues will be split between Livingston, Ascension and Tangipahoa parishes. The share for Livingston alone will be $110 million in thirty years.