Bill Text: TX SB1531 | 2015-2016 | 84th Legislature | Introduced
Bill Title: Relating to the use of revenue derived from oil and gas by the Tarrant Regional Water District.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2015-03-23 - Referred to Intergovernmental Relations [SB1531 Detail]
Download: Texas-2015-SB1531-Introduced.html
84R9382 SLB-D | ||
By: Burton | S.B. No. 1531 |
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relating to the use of revenue derived from oil and gas by the | ||
Tarrant Regional Water District. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Chapter 268, Acts of the 55th Legislature, | ||
Regular Session, 1957, is amended by adding Section 23 to read as | ||
follows: | ||
Sec. 23. The district shall expend 50 percent of any | ||
district revenue derived from oil and gas leases or payments from | ||
businesses engaged in the production of oil and gas in a manner that | ||
will result in a reduction of district water rates for all district | ||
customers. | ||
SECTION 2. The changes in law made by this Act apply only to | ||
revenue derived from oil and gas collected on or after September 1, | ||
2015. Revenue collected before that date is governed by the law in | ||
effect at the time the revenue was collected, and that law is | ||
continued in effect for that purpose. | ||
SECTION 3. This Act takes effect September 1, 2015. |