By:  Farabee (Senate Sponsor - Armbrister)                        H.B. No. 2021
	(In the Senate - Received from the House April 14, 2003; 
April 15, 2003, read first time and referred to Committee on 
Natural Resources; May 2, 2003, reported adversely, with favorable 
Committee Substitute by the following vote:  Yeas 10, Nays 0; 
May 2, 2003, sent to printer.)


COMMITTEE SUBSTITUTE FOR H.B. No. 2021                                   By:  Armbrister


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 performing operations within the jurisdiction of the 
commission 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.



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