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Audit: Recent hurricanes cost Louisiana utility restoration $1.5B in new debt | Louisiana

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www.thecentersquare.com – By Steve Wilson | – 2024-06-21 09:12:00

(The Center Square) – According to a recent audit, the Louisiana Utilities Restoration Corporation added $1.5 billion in new debt to help utilities restore electricity service after four hurricanes and a winter storm.

The report by Legislative Auditor Mike Waguespack's office found that that the state-owned nonprofit corporation had to increase both its debt and the storm recovery charges it levies to utilities to pay for those obligations. This included $1.5 billion to cover repairs to the electricity grid from hurricanes Laura, Delta, Zeta and Ida and a winter storm in February 2021.

The corporation also added $209 million in debt to help replenish its storm recovery reserves.

According to the audit, the corporation collected in the fiscal year that ends on June 30 nearly $355.6 million in system restoration charges from Entergy Louisiana, $11.7 million from Entergy Gulf States Louisiana and $8.34 million from Entergy New Orleans. 

The audit also found that the corporation's current liabilities increased by 128%, increasing by $195 million from $152 million in fiscal 2022 to $347.2 million in fiscal 2003. 

Its noncurrent liabilities also rose by 48.4%, growing from $3.22 billion to $4.7 billion, with both increases due to increased liabilities.  

In fiscal 2023, the corporation paid $96 million in interest and $119.9 million in principal on one set of system restoration bonds, while paying $1 million in interest and $17.7 million in principal for another. 

Louisiana has been hit hard by a round of storms in recent years. Hurricane Laura made landfall in Cameron Parish near Lake Charles on Aug. 27, 2020, as a strong Category 4 storm, followed by Category 2 Hurricane Delta just six weeks later and 15 miles east of where Laura made landfall.

On Oct. 28, 2020, Hurricane Zeta made landfall near Cocodrie as a Category 3 storm that passed over New Orleans.

On Aug. 29, 2021, Hurricane Ida was Category 4 when it struck Port Fourchon, the key supply center for the state's offshore oil and natural gas industry. This date was the 16th anniversary of Hurricane Katrina, which made landfall in 2005 as a Category 4 storm.

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Gulf states could benefit from bills to provide offshore green energy revenues | Louisiana

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www.thecentersquare.com – By Steve Wilson | – 2024-06-28 08:19:00

(The Center Square) — Louisiana voters will cast ballots in November to determine whether the state will participate in a possible royalty system for offshore renewable energy production, but federal action is required before the money starts to flow. 

Over the past several years, bills have been submitted to allow the alternative energy revenues, such as wind leases, to be sent to the Gulf states of Alabama, Mississippi, Louisiana and Texas to fund coastal restoration and resilience projects.

All of these bills would reform the Gulf of Mexico Energy Security Act by increasing the revenue-sharing distribution from offshore oil and gas activities from 37.5% to 50% and eliminating the existing state revenue-sharing cap of $375 million for Gulf Coast states.

It's of dire importance to Louisiana as the funds from the BP oil spill settlement, which is the primary source for coastal restoration projects, will run out in 2031. The projects are designed to repair and rebuild the state's wetlands which shield inland areas from hurricane storm surges and provide important nurseries for marine life. 

U.S. Sen. Bill Cassidy, R-La., filed a bill last year called the Reinvesting in Shoreline Economies & Ecosystems Act with U.S. Sen. Sheldon Whitehouse, D-R.I. Congressman Steve Scalise, R-La., has a bill called the Budgeting for Renewable Electrical Energy Zone Earnings that he has filed twice in the last two years. U.S. Rep. Lizzie Fletcher, D-Texas, has also filed her version of the measure. 

The National Ocean Industries Association is the trade organization for the offshore industry and supports this type of legislation. President Erik Milito told the Center Square that if the bill becomes law, Louisiana could see $1.96 billion over the next 10 years if the RISEE Act or other similar legislation becomes law.

“Well, it should, over time, you're gonna see more revenue flowing to the government from offshore wind power, and if states are able to share in that then it becomes fairly obvious to the local taxpayers and the local constituency that this much money is now coming into our state because of offshore wind,” Milito said. “You haven't needed that in the Northeast Atlantic, Pacific. Those state governments have taken independent action to promote offshore wind because they're more progressive when it comes to wanting to have you know, climate goals in place. When it comes to the oil and gas sector, you know, the Gulf Coast has been it really for the past several decades.

“And Texas, Louisiana, Mississippi, Alabama have all been supportive because of the employment base and the investment base that you have along the coastline with hundreds if not thousands of companies contributing to the local economies.”

The bills have bipartisan support, as several environmental groups such as the Citizens Climate Lobby, the Coastal Conservation Association, the National Audubon Society, the National Wildlife Federation and the Environmental Defense Fund among others have weighed in support for the legislation. 

Voters will decide on Nov. 5 whether to add two amendments to the state constitution governing offshore energy royalty distribution. The two bills authored Rep. Joseph Orgeron, R-Cut Off, were signed into law by Gov. Jeff Landry on June 19. Right now, any offshore wind or other renewable revenues would be split between the state's General Fund (75%) and the remainder with the state's mineral fund

House Bill 300 would place a constitutional amendment on the ballot to redirect federal revenues from “generated from Outer Continental Shelf alternative or renewable energy production sources, including wind energy, solar energy, tidal energy, wave energy, geothermal energy, and other alternative or renewable energy production or sources.”

The companion bill, House Bill 305, that would codify the shift of federal royalties to the coastal protection fund from the Gulf of Mexico Energy Security Act program if the measure is passed by voters.

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Capitol Hill panelists implore awareness, fight for original Title IX | National

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www.thecentersquare.com – By Alan Wooten | – 2024-06-27 14:05:00

(The Center Square) – Congresswoman Virginia Foxx of North Carolina considered the panel question and delivered, as often she does, a bottom-line answer for Title IX at passage 52 years ago and today.

The Republican noted the president was a fellow member of her party, Richard Nixon, and Congress was majority Democrats. Yet the civil rights law got bipartisan approval.

“That was a time,” she said, “when Democrats knew what the difference was between a man and a woman. I mean, times have changed.”

Even more than 37 words in the original to the Education Department's 1,561 pages in 2024.

Thursday's Capitol Hill audience for the panel discussion led by Speaker of the House Mike Johnson, R-La., had chuckles, though not for the wrong reasons. They were joined by Betsy DeVos, former Secretary of Education in the Trump administration; Riley Gaines, 12-time All-American swimmer at Kentucky; and Heather Higgins, chairwoman of the Independent Women's Forum.

Rep. Mary Miller, R-Illinois, emceed and introduced. Miller serves as vice chairwoman alongside chairwoman Foxx on the Committee on Education and the Workforce. Sunday was the 52nd anniversary of Nixon signing Title IX into law. The rewrite is scheduled to take effect Aug. 1, though it is halted in 10 states already by injunctions.

“He told us from his first day in office they were going to rewrite Title IX,” Johnson said of President Joe Biden. “They were going to dramatically revise it. That was an ominous warning, and they made good on it.”

An April fact sheet released by the U.S. Department of Education gave clarification to the proposed changes. Included, “The proposed rule would establish that policies violate Title IX when they categorically ban transgender students from participating on sports teams consistent with their gender identity just because of who they are.”

Gaines and Higgins said gender ideology is about more than sports. There are sororities on campuses, detransitioners with irreparable harm, and men going to prison choosing incarceration with women.

“If you're a guy, why wouldn't you choose to go be in a women's prison instead of a men's prison?” Higgins asked rhetorically.

Higgins said, “While the administration disingenuously claims that the new rule doesn't apply to sports, they've established the default position that school activities limited to biological women or biological men are presumptively discriminatory.

“The administration has repeatedly insisted, in court filings and in public pronouncements, that Title IX requires schools to allow trans-identified males to play women's sports. They can't have it both ways. Either they use Title IX to force schools to allow men on women's sports teams, or if they are not, then schools should stop the madness right now.”

Gaines has been a leader to save women's sports, traveling the country and appearing in a number of state legislatures. She's testified in the U.S. Senate and House of Representatives, too. More than that, she said, she's realized how much her time as an athlete from age 4 to 22 prepared her for what is happening now much more so than it did as a swimmer.

“They are stripping all sex-based protections for women and girls – robbing women of equal opportunity, privacy, and fairness,” she said. “Equating ‘sex' with ‘gender identity' effectively abolishes the original intent of Title IX. This doesn't enforce Title IX, it violates it.”

On June 13, a Louisiana judge stopped implementation of the Title IX rewrite in Louisiana, Mississippi, Montana and Idaho. On June 17, a Kentucky judge halted the rewrite in Kentucky, Tennessee, Indiana, Ohio, Virginia and West Virginia.

Also on June 13, the House Committee on Education and the Workforce passed a Congressional Review Act to nullify the new rule. It would, if passed, formally dispense “with the administration's Title IX rule so that educational institutions can continue protecting the safety of women and girls and their access to educational opportunities.”

Johnson said it will get a floor vote next week.

“While the Biden administration has pushed progressive gender ideology to include biological men in women's sports under Title IX, conservatives in the House are fighting to protect women's right to compete,” Johnson said. “We will not stand by and tolerate the erosion of safe, fair, and equal competition in women's sports.”

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Capitol Hill panelists implore awareness, fight for original Title IX | North Carolina

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www.thecentersquare.com – By Alan Wooten | – 2024-06-27 14:05:00

(The Center Square) – Congresswoman Virginia Foxx of North Carolina considered the panel question and delivered, as often she does, a bottom-line answer for Title IX at passage 52 years ago and today.

The Republican noted the president was a fellow member of her party, Richard Nixon, and Congress was majority Democrats. Yet the civil rights law got bipartisan approval.

“That was a time,” she said, “when Democrats knew what the difference was between a man and a woman. I mean, times have changed.”

Even more than 37 words in the original to the Education Department's 1,561 pages in 2024.

Thursday's Capitol Hill audience for the panel discussion led by Speaker of the House Mike Johnson, R-La., had chuckles, though not for the wrong reasons. They were joined by Betsy DeVos, former Secretary of Education in the Trump administration; Riley Gaines, 12-time All-American swimmer at Kentucky; and Heather Higgins, chairwoman of the Independent Women's Forum.

Rep. Mary Miller, R-Illinois, emceed and introduced. Miller serves as vice chairwoman alongside chairwoman Foxx on the Committee on Education and the Workforce. Sunday was the 52nd anniversary of Nixon signing Title IX into law. The rewrite is scheduled to take effect Aug. 1, though it is halted in 10 states already by injunctions.

“He told us from his first day in office they were going to rewrite Title IX,” Johnson said of President Joe Biden. “They were going to dramatically revise it. That was an ominous warning, and they made good on it.”

An April fact sheet released by the U.S. Department of Education gave clarification to the proposed changes. Included, “The proposed rule would establish that policies violate Title IX when they categorically ban transgender students from participating on sports teams consistent with their gender identity just because of who they are.”

Gaines and Higgins said gender ideology is about more than sports. There are sororities on campuses, detransitioners with irreparable harm, and men going to prison choosing incarceration with women.

“If you're a guy, why wouldn't you choose to go be in a women's prison instead of a men's prison?” Higgins asked rhetorically.

Higgins said, “While the administration disingenuously claims that the new rule doesn't apply to sports, they've established the default position that school activities limited to biological women or biological men are presumptively discriminatory.

“The administration has repeatedly insisted, in court filings and in public pronouncements, that Title IX requires schools to allow trans-identified males to play women's sports. They can't have it both ways. Either they use Title IX to force schools to allow men on women's sports teams, or if they are not, then schools should stop the madness right now.”

Gaines has been a leader to save women's sports, traveling the country and appearing in a number of state legislatures. She's testified in the U.S. Senate and House of Representatives, too. More than that, she said, she's realized how much her time as an athlete from age 4 to 22 prepared her for what is happening now much more so than it did as a swimmer.

“They are stripping all sex-based protections for women and girls – robbing women of equal opportunity, privacy, and fairness,” she said. “Equating ‘sex' with ‘gender identity' effectively abolishes the original intent of Title IX. This doesn't enforce Title IX, it violates it.”

On June 13, a Louisiana judge stopped implementation of the Title IX rewrite in Louisiana, Mississippi, Montana and Idaho. On June 17, a Kentucky judge halted the rewrite in Kentucky, Tennessee, Indiana, Ohio, Virginia and West Virginia.

Also on June 13, the House Committee on Education and the Workforce passed a Congressional Review Act to nullify the new rule. It would, if passed, formally dispense “with the administration's Title IX rule so that educational institutions can continue protecting the safety of women and girls and their access to educational opportunities.”

Johnson said it will get a floor vote next week.

“While the Biden administration has pushed progressive gender ideology to include biological men in women's sports under Title IX, conservatives in the House are fighting to protect women's right to compete,” Johnson said. “We will not stand by and tolerate the erosion of safe, fair, and equal competition in women's sports.”

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