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A BILL TO BE ENTITLED
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AN ACT
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relating to allocation of oil and gas lease and royalty payments |
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derived from land deeded to Texas counties for road purposes. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subtitle D, Chapter 51, Subchapter G, Section |
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51.300, Natural Resources Code is amended, as follows: |
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Income received by the commissioner under this subchapter |
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from public school land shall be credited to the permanent school |
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fund. Other income received by the commissioner on other land under |
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this subchapter shall be credited to the General Revenue Fund, with |
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the exception of mineral interests, including oil and gas lease |
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payments or royalty payments derived from lands owned in fee by a |
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Texas County, as recorded in the County Deed Records, to be remitted |
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in full to the County where any production under the lease occurs, |
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to be used by the County for road purposes only. |
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SECTION 2. This Act takes effect September 1, 2015. |