Honorable Yvonne Davis, Chair, House Committee on Urban Affairs
FROM:
John S. O'Brien, Director, Legislative Budget Board
IN RE:
HB3288 by McReynolds (Relating to the lease of certain oil, gas, or mineral land by a municipality.), As Introduced
No fiscal implication to the State is anticipated.
The bill would amend Section 253.005(b) of the Local Government Code to authorize a municipality to lease for oil, gas, or mineral land that is a street, alley, or public square in the municipality if the lease prohibits the lessee from using the surface of the land.
Local Government Impact
If a municipality were to implement a lease as described in the provisions of the bill, any associated revenue gain would be dependent on the financial requirements established within the lease.