NC Senator Bill Cook Deep in Session | Eastern North Carolina Now

For Immediate Release:

    We have been busy so far this session! Here is a little of what has happened in the past two weeks.

    Senate advances Domestic Energy Jobs Act to stimulate energy production, job growth.

    Last week, the Senate tentatively passed bi-partisan legislation Tuesday to put North Carolina on a path to a robust energy sector expected to lure thousands of jobs and generate billions of dollars for the state economy.

    Senate Bill 76, the Domestic Energy Jobs Act, authorizes the Department of Environment and Natural Resources (DENR) and the Mining and Energy Commission to begin issuing permits for shale gas exploration and development on March 1, 2015 - five months after the rules and safety standards governing the practice are mandated to be in place.

    The bill encourages early job creation and corporate investment by implementing a one percent state severance tax on shale gas resources that graduates to six percent by 2020. Revenues would be used to fund DENR's oil and gas regulatory program, create a $10 million energy planning and management fund and contribute to North Carolina's General Fund.

    The bill also replaces the state's Energy Policy Council with an Energy Jobs Council that will develop a comprehensive energy plan focused on creating new jobs. North Carolina needs these jobs, and we, as Americans, need this energy. Developing our state's energy sector will bring new, good paying jobs to our state.

    To develop North Carolina's offshore energy resources, SB 76 authorizes Gov. Pat McCrory to negotiate a tri-state pact with the governors of Virginia and South Carolina. The pact would urge the federal government to open the East Coast for energy exploration.

    The bill also encourages the governor to work with North Carolina's Congressional delegation to advocate for state revenue-sharing from offshore energy exploration.

    Last week, the governor joined the Outer Continental Shelf Governors Coalition. Earlier this month, he sent a joint letter with the governors of Virginia and South Carolina asking the Obama administration to partner on offshore energy exploration.

    We are hopeful the House will send this job-creating bill to the governor's desk for his signature.

    Background on S76

    . Comparisons to other locations across the Southeast suggest that North Carolina's onshore exploration sites hold a potential of up to 45 trillion cubic feet of natural gas.

    . North Carolina's offshore energy reserves are predicted to be mostly clean natural gas. The state has 64 million federal offshore acres, the most on the East Coast and the fourth largest acreage in the country.

    . The Southeast Energy Alliance calculates that production of offshore resources would create more than 6,700 new jobs and add more than $659 million annually to North Carolina's economy over three decades.

    The truth about Payday Loans (S89)

    There has been a lot of misinformation spread about S89, Payday Loans. Here are the facts.

    Payday Loans not for everyone. Most people do not fall into the bracket of either no credit or bad credit. If you need a short-term loan, where do you go? You have 3 choices - none are good: 1) Internet with rollovers and 300 - 600% APR 2) Black market - worse yet 3) Go without (lose your job).

    Senate Bill 89 provides an answer. Note these provisions: 1) 35 day loan 2) Maximum loan $500 3) No rollovers 4) $75 fee on $500 or $15 per $100 borrowed 5) No second loan until the first is paid off 6) Database to prevent going down the street and borrowing from another lender.

    The people who needed short-term loans haven't gone away - only their options have. SB89 will bring back legitimate, well-regulated options.

    Sponsorship Update

    So far this session, I have cosponsored 22 bills, most recently including S106 "Home Birth Freedom Act ", S114 "Repeal Estate Tax ", S125 "Public Meeting/Records Law Violations ", S129 "Limit State Facilities Finance Act Debt ", and S138 "Bible Study Elective ."

    I hope to file a bill this week that would help out homeschool families of North Carolina. More details will be in my next newsletter.

    You can click on the title in the hyperlink provided to read each bill. You can also keep track of all the bills I have sponsored or cosponsored here .

    Page Program

    If you know a high school student interested in learning more about our state government and how it operates, please have them contact our office about the week-long Senate Page Program. The program is filled on a first-come, first-serve basis. Many weeks are still open through the end of June. Please contact us for the application as soon as possible for the best chance of receiving appointment to your desired week of service.