BILL ANALYSIS
Senate Research Center C.S.H.B. 3385
By: Chisum (Janek)
Committee Report (Substituted)
AUTHOR'S / SPONSOR'S STATEMENT OF INTENT
The Interstate Oil and Gas Compact Commission (IOGCC) is a multi-state government agency, located in Oklahoma, that promotes the conservation and efficient recovery of domestic oil and natural gas resources while protecting health, safety, and the environment. Texas has been a member of the IOGCC since its founding in 1935.
C.S.H.B. 3385 provides a means for funding the relocation of the IOGCC to Texas and the support of the IOGCC and related economic development and research activities.
RULEMAKING AUTHORITY
SECTION BY SECTION ANALYSIS
SECTION 1. Amends Section 40.152, Natural Resources Code, by adding Subsection (d), as follows:
(d) Authorizes money in the coastal protection fund to be disbursed to pay for costs related to the relocation, for the support of the Interstate Oil and Gas Compact Commission, and for related economic development if that commission relocates to the State of Texas, on or before December 31, 2008, notwithstanding Section 40.151 and Subsection (a) of this section. Prohibits the amount of money in the fund that may be disbursed under this subsection in a state fiscal year from exceeding $500,000. Provides that Sections 40.153 (Reimbursement of Fund) and 40.161 (Reimbursement of Fund) do not apply to money disbursed under this subsection. Provides that this subsection expires August 31, 2009.
SECTION 2. Effective date: upon passage or September 1, 2007.