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A BILL TO BE ENTITLED
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AN ACT
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relating to the use of revenue derived from oil and gas by the |
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Tarrant Regional Water District. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Chapter 268, Acts of the 55th Legislature, |
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Regular Session, 1957, is amended by adding Section 23 to read as |
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follows: |
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Sec. 23. The district shall expend 50 percent of any |
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district revenue derived from oil and gas leases or payments from |
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businesses engaged in the production of oil and gas in a manner that |
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will result in a reduction of district water rates for all district |
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customers. |
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SECTION 2. The changes in law made by this Act apply only to |
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revenue derived from oil and gas collected on or after September 1, |
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2015. Revenue collected before that date is governed by the law in |
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effect at the time the revenue was collected, and that law is |
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continued in effect for that purpose. |
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SECTION 3. This Act takes effect September 1, 2015. |