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Senate Bill 903 |
Senate Author: Hancock |
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Effective: 9-1-15 |
House Sponsor: Lucio III |
Senate Bill 903 amends Natural Resources Code provisions relating to procedures for the management, sale, or lease of certain state-owned real property and the management or collection of related funds, including certain procedures regarding disputed oil and gas royalties owed to the state.
Among other provisions, the bill requires payments of principal, interest, and lease rental for public school and asylum land to be accounted for in a similar form but separate from first payments on land and prescribes certain procedures to be followed by the comptroller of public accounts and the commissioner of the General Land Office regarding those payments.
In addition, the bill repeals a provision requiring the commissioner to furnish from time to time and on request of the school land board a list of certain land areas, revises certain notice requirements regarding approval of a coastal boundary survey and regarding removal of a facility or structure on land owned by the state, and revises gubernatorial signature requirements regarding instruments of conveyance for the grant of an interest in real property owned by the state.