Conference committee backs House amendment directing trust lands, Commerce to identify revenue opportunities

At a conference committee meeting on Senate Bill 2013, members voted to accept a House amendment that directs the Commissioner of State Trust Lands and the Commerce Department to collaborate to identify revenue diversification and development opportunities for state trust lands and to report findings to the appropriations committee.

The change, placed in Section 4 of the bill, does not itself authorize projects on trust lands but requires the two agencies to identify potential development or revenue options and report back. Joseph Herringer, Commissioner of State Trust Lands, told the committee that nearly all current trust-land revenue comes from mineral rights — "about 97%" — and that projections show oil and gas revenue could begin to decline "somewhere in the early 2030s," which prompted the push to explore other income streams.

Committee members discussed whether to add a dedicated state hire (FTE) to…