By Craddick                                            H.B. No. 836
       74R1191 JD-D
                                 A BILL TO BE ENTITLED
    1-1                                AN ACT
    1-2  relating to the appraisal of oil and gas property for ad valorem
    1-3  tax purposes.
    1-4        BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
    1-5        SECTION 1.  Section 23.175, Tax Code, is amended by adding
    1-6  Subsection (d) to read as follows:
    1-7        (d)  Each year the comptroller shall determine the average
    1-8  prices for oil and gas in this state for each day of the preceding
    1-9  year and compile, publish, and distribute to each appraisal office
   1-10  a schedule of those prices.  If, for the purpose of performing the
   1-11  agency's duties, the Railroad Commission of Texas divides the state
   1-12  into districts, the comptroller shall determine the daily average
   1-13  prices for oil and gas in each railroad commission district.  If
   1-14  there was no production from a property on any day, the appraisal
   1-15  office shall use the price specified by the comptroller for that
   1-16  day as the average price for which similar oil or gas was selling
   1-17  on that day.  If the average prices are determined for railroad
   1-18  commission districts, the appraisal office shall use the price
   1-19  determined for the district in which the property is located.
   1-20        SECTION 2.  This Act takes effect January 1, 1996.
   1-21        SECTION 3.  The importance of this legislation and the
   1-22  crowded condition of the calendars in both houses create an
   1-23  emergency and an imperative public necessity that the
   1-24  constitutional rule requiring bills to be read on three several
    2-1  days in each house be suspended, and this rule is hereby suspended.