Bill Text: TX SB1296 | 2011-2012 | 82nd Legislature | Comm Sub
NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Relating to the use of proceeds of bonds and other financial security filed with the Railroad Commission of Texas by certain persons under the jurisdiction of the commission and deposited in the oil-field cleanup fund.
Spectrum: Partisan Bill (Republican 2-0)
Status: (Engrossed - Dead) 2011-05-22 - Committee report sent to Calendars [SB1296 Detail]
Download: Texas-2011-SB1296-Comm_Sub.html
Bill Title: Relating to the use of proceeds of bonds and other financial security filed with the Railroad Commission of Texas by certain persons under the jurisdiction of the commission and deposited in the oil-field cleanup fund.
Spectrum: Partisan Bill (Republican 2-0)
Status: (Engrossed - Dead) 2011-05-22 - Committee report sent to Calendars [SB1296 Detail]
Download: Texas-2011-SB1296-Comm_Sub.html
By: Hegar | S.B. No. 1296 | |
(In the Senate - Filed March 8, 2011; March 16, 2011, read | ||
first time and referred to Committee on Natural Resources; | ||
April 13, 2011, reported favorably by the following vote: Yeas 10, | ||
Nays 0; April 13, 2011, sent to printer.) |
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relating to the use of proceeds of bonds and other financial | ||
security filed with the Railroad Commission of Texas by certain | ||
persons under the jurisdiction of the commission and deposited in | ||
the oil-field cleanup fund. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Section 91.108, Natural Resources Code, is | ||
amended to read as follows: | ||
Sec. 91.108. DEPOSIT AND USE OF FUNDS. Subject to the | ||
refund provisions of Section 91.1091, if applicable, proceeds from | ||
bonds and other financial security required pursuant to this | ||
chapter and benefits under well-specific plugging insurance | ||
policies described by Section 91.104(c) that are paid to the state | ||
as contingent beneficiary of the policies shall be deposited in the | ||
oil-field cleanup fund and, notwithstanding Sections 91.112 and | ||
91.113, may be used only for actual well plugging and surface | ||
remediation or to pay an administrative penalty imposed by the | ||
commission under this title that a person has failed to pay before | ||
the penalty is due. | ||
SECTION 2. This Act takes effect September 1, 2011. | ||
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