Enrolled Bill Summary

House Bill 3348 creates the Texas Energy Resource Council to coordinate a program designed to promote environmentally sound energy production methods; educate the public about the importance of the oil, natural gas, and pipeline industries; and promote the exploration for and production of energy. The bill establishes the composition, terms, and compensation of the council; creates the energy resource account to fund the council; imposes a fee based on a percentage of the market value of each producer's oil, gas, or condensate production; caps the fee at $150,000 per producer per year; and provides for the collection, deposit, and refund of the assessment.