78R5662 MI-F


By:  Farabee                                                      H.B. No. 2021



A BILL TO BE ENTITLED

AN ACT

relating to the bankruptcy notice required to be filed by a 
regulated oil and gas entity.
	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:                        
	SECTION 1.  Section 91.142, Natural Resources Code, is 
amended by adding Subsection (h) to read as follows:
	(h)  To enable the commission to better protect the state's 
resources, an entity described by Subsection (a) or an affiliate of 
such an entity that files for federal bankruptcy protection shall 
give written notice to the commission of that action by submitting 
the notice to the office of general counsel not later than the 30th 
day after the date of filing.
	SECTION 2.  (a)  This Act takes effect September 1, 2003.                      
	(b)  The change in law made by Section 91.142(h), Natural 
Resources Code, as added by this Act, applies only to a bankruptcy 
filing that occurs on or after September 1, 2003.