By: Brown S.B. No. 1040
A BILL TO BE ENTITLED
AN ACT
1-1 relating to the operation and re-creation of the dedicated account
1-2 known as the coastal protection account.
1-3 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-4 SECTION 1. Section 40.151 (c), Natural Resources Code, is
1-5 amended to read as follows:
1-6 (c) Sections 403.094 and 403.095, Government Code, do not
1-7 apply to the dedicated account created under this section <Except
1-8 as provided by Subsection (e) of this section, the commissioner may
1-9 invest money in the fund not currently needed to meet the
1-10 commissioner's responsibility under this chapter in the manner
1-11 provided by Section 161.173 of this code for investment of the
1-12 veterans land fund. Income received on investments shall be
1-13 credited to the fund>.
1-14 SECTION 2. Section 40.155, Natural Resources Code, is
1-15 amended to read as follows:
1-16 (a) Except as otherwise provided in this section, the rate
1-17 of the fee shall be two cents per barrel of crude oil until the
1-18 commissioner certifies that the unencumbered balance in the fund
1-19 has reached $25 million. The commissioner shall certify to the
1-20 comptroller the date on which the unencumbered balance in the fund
1-21 exceeds $25 million. The fee shall not be collected or required to
1-22 be paid on or after the first day of the second month following the
1-23 commissioner's certification to the comptroller that the
2-1 unencumbered balance in the fund exceeds $25 million.
2-2 (b) If the unencumbered balance in the fund falls below $14
2-3 million, the commissioner shall certify such fact to the
2-4 comptroller. On receiving the commissioner's certification, the
2-5 comptroller shall resume collecting the fee until suspended in the
2-6 manner provided in Subsection (a) of this section.
2-7 (c) Notwithstanding the provisions of Subsection (a) or (b)
2-8 of this section, the fee shall be levied at the rate of four cents
2-9 per barrel if the commissioner certifies to the comptroller a
2-10 written finding of the following facts:
2-11 (1) the unencumbered balance in the fund is less than
2-12 $25 million;
2-13 (2) an unauthorized discharge of oil in excess of
2-14 100,000 gallons has occurred within the previous 30 days; and
2-15 (3) expenditures from the fund for response costs and
2-16 damages are expected to deplete the fund substantially.
2-17 (d) In the event of a certification to the comptroller under
2-18 Subsection (c) of this section, the unencumbered balance of the
2-19 dedicated coastal protection account is appropriated to the General
2-20 Land Office for emergency response and the comptroller shall
2-21 collect the fee at the rate of four cents per barrel until the
2-22 unencumbered balance in the fund reaches $25 million or any lesser
2-23 amount that the commissioner determines is necessary to pay such
2-24 response costs and damages without substantially depleting the
2-25 fund. The commissioner shall certify to the comptroller the date
3-1 on which the unencumbered balance in the fund exceeds $25 million
3-2 or such other lesser amount. The fee shall not be collected or
3-3 required to be paid on or after the first day of the second month
3-4 following the commissioner's certification to the comptroller.
3-5 (e) For purposes of this section, the unencumbered balance
3-6 of the fund shall be determined by the unencumbered cash balance of
3-7 the fund at the end of each month or on the date of a finding under
3-8 Subsection (c) of this section.
3-9 SECTION 3. The coastal protection account is hereby
3-10 recreated as a special dedicated account. The value of all extant
3-11 investments are transferred into such account to be used for the
3-12 purposes designated in Chapter 40, Natural Resources Code.
3-13 SECTION 4. The importance of this legislation and the
3-14 crowded condition of the calendars in both houses create an
3-15 emergency and an imperative public necessity that the
3-16 constitutional rule requiring bills to be read on three several
3-17 days in each house be suspended, and this rule is hereby suspended,
3-18 and that this Act take effect and be in force from and after its
3-19 passage, and it is so enacted.