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A BILL TO BE ENTITLED
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AN ACT
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relating to the use of the proceeds of cash deposits filed with the |
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Railroad Commission of Texas by certain persons under the |
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jurisdiction of the commission and deposited in the oil-field |
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cleanup fund. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 91.108, Natural Resources Code, is |
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amended to read as follows: |
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Sec. 91.108. DEPOSIT AND USE OF FUNDS. Subject to the |
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refund provisions of Section 91.1091, if applicable, proceeds from |
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bonds and other financial security required pursuant to this |
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chapter and benefits under well-specific plugging insurance |
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policies described by Section 91.104(c) that are paid to the state |
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as contingent beneficiary of the policies shall be deposited in the |
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oil-field cleanup fund. Proceeds from cash deposits filed with the |
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commission under Section 91.103 and deposited in the oil-field |
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cleanup fund are held in trust to be used only as provided by this |
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section and may not be commingled with other money in the fund. |
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Notwithstanding [and, notwithstanding] Sections 91.112 and 91.113, |
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proceeds described by this section may be used only for actual well |
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plugging and surface remediation. |
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SECTION 2. This Act takes effect September 1, 2009. |