Bill Text: TX HB1575 | 2015-2016 | 84th Legislature | Comm Sub
Bill Title: Relating to requirements for reporting unclaimed mineral proceeds to the comptroller of public accounts.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2015-05-12 - Placed on General State Calendar [HB1575 Detail]
Download: Texas-2015-HB1575-Comm_Sub.html
84R19518 PMO-D | |||
By: Guillen | H.B. No. 1575 | ||
Substitute the following for H.B. No. 1575: | |||
By: Anchia | C.S.H.B. No. 1575 |
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relating to requirements for reporting unclaimed mineral proceeds | ||
to the comptroller of public accounts. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Section 74.101, Property Code, is amended by | ||
adding Subsection (e) to read as follows: | ||
(e) A holder of mineral proceeds under Chapter 75 that is | ||
regulated by the Railroad Commission of Texas under Chapter 91, | ||
Natural Resources Code, shall include in the property report for | ||
the proceeds, in addition to the information listed in Subsection | ||
(c), the following information with respect to each well the | ||
production from which resulted in the proceeds: | ||
(1) all information required under Section 91.502(1), | ||
Natural Resources Code; | ||
(2) the survey name for the location of the well; and | ||
(3) from the Railroad Commission of Texas Form W-1 | ||
(Application for Permit to Drill, Deepen, Plug-back or Re-enter): | ||
(A) the General Land Office abstract number for | ||
the location of the well; and | ||
(B) the global positioning system coordinates | ||
for the location of the well. | ||
SECTION 2. Section 74.101(e), Property Code, as added by | ||
this Act, applies only to a report filed on or after the effective | ||
date of this Act. A report filed before the effective date of this | ||
Act is governed by the law as it existed immediately before the | ||
effective date of this Act, and that law is continued in effect for | ||
that purpose. | ||
SECTION 3. This Act takes effect January 1, 2016. |