Virginia House Bill 2389 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 2-0)
Status: Introduced on January 18 2017 - 25% progression, died in committee
Action: 2017-02-07 - Left in Finance
Pending: House Finance Committee
Text: Latest bill text (Introduced) [HTML]

Gas or oil drilling units; escrowed proceeds; school board. Provides that proceeds of certain gas or oil wells, escrowed because the owner's identity and location remain unknown, shall be presumed abandoned and made available to the school board nearest the drilling unit. Current law requires such escrowed proceeds to be disposed of pursuant to the Uniform Disposition of Unclaimed Property Act. The bill also provides that certain escrowed proceeds due to known and locatable claimants of coalbed methane gas wells that were force-pooled prior to July 1, 2015, shall be made available to the local school board when one year has passed and certain other conditions are met.

Gas or oil drilling units; escrowed proceeds.

Sen. Todd Pillion [R]

Del. Terry Kilgore [R]

Date	Chamber	Action
2017-02-07	House	Left in Finance
2017-01-27	House	Subcommittee recommends laying on the table by voice vote
2017-01-25	House	Assigned Finance sub: Subcommittee #3
2017-01-25	House	Referred to Committee on Finance
2017-01-25	House	Referred from Agriculture, Chesapeake and Natural Resources by voice vote
2017-01-18	House	Referred to Committee on Agriculture, Chesapeake and Natural Resources
2017-01-18	House	Presented and ordered printed 17104060D

Chapter	Article	Section	Citation Type	Statute Text
45	1	361.21	(n/a)	See Bill Text
45	1	361.22:2	(n/a)	See Bill Text

Type	Source
Summary	https://lis.virginia.gov/cgi-bin/legp604.exe?171+sum+HB2389
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?171+ful+HB2389+hil