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A BILL TO BE ENTITLED
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AN ACT
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relating to requirements for reporting unclaimed mineral proceeds |
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to the comptroller of public accounts. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 74.101, Property Code, is amended by |
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adding Subsection (e) to read as follows: |
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(e) A holder of mineral proceeds under Chapter 75 that is |
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regulated by the Railroad Commission of Texas under Chapter 91, |
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Natural Resources Code, shall include in the property report for |
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the proceeds, in addition to the information listed in Subsection |
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(c), the following information with respect to each well the |
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production from which resulted in the proceeds: |
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(1) the lease, property, or well name; |
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(2) any lease, property, or well identification number |
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used to identify the lease, property, or well; and |
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(3) the county in which the lease, property, or well is |
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located. |
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SECTION 2. The heading to Section 74.104, Property Code, is |
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amended to read as follows: |
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Sec. 74.104. CONFIDENTIALITY OF PROPERTY REPORT; |
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EXCEPTIONS. |
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SECTION 3. Section 74.104, Property Code, is amended by |
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amending Subsection (a) and adding Subsections (c), (d), and (e) to |
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read as follows: |
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(a) Except as provided by Subsection (c) and Section 74.201, |
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74.203, or 74.307, a property report filed with the comptroller |
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under Section 74.101 is confidential until the second anniversary |
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of the date the report is filed. |
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(c) The information reported under Section 74.101(e) is |
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confidential and not subject to disclosure under Chapter 552, |
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Government Code. |
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(d) Notwithstanding Subsection (c), the comptroller may |
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release the information about a well reported under Section |
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74.101(e) to a claimant of mineral proceeds from the well if the |
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claim is approved by the comptroller under Section 74.501. |
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(e) Notwithstanding Subsection (c), the information |
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compiled under Section 74.307(a)(2) is subject to disclosure under |
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Chapter 552, Government Code. |
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SECTION 4. Section 74.307, Property Code, is amended to |
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read as follows: |
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Sec. 74.307. LIST OF OWNERS; OTHER PUBLIC INFORMATION. |
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(a) The comptroller shall compile and revise each year: |
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(1) [,] except as to amounts reported in the |
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aggregate, an alphabetical list of the names and last known |
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addresses of the owners listed in the reports and the amount |
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credited to each account; and |
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(2) an alphabetical list by county of: |
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(A) the number of reports filed under Section |
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74.101 for mineral proceeds attributable to all wells located in |
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each respective county; and |
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(B) the aggregate amount of mineral proceeds |
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reported under Section 74.101 attributable to all wells, if any, |
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located in each respective county. |
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(b) The comptroller shall make the lists [list] available |
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for public inspection during all reasonable business hours. |
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SECTION 5. Section 74.101(e), Property Code, as added by |
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this Act, applies only to a report filed on or after the effective |
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date of this Act. A report filed before the effective date of this |
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Act is governed by the law as it existed immediately before the |
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effective date of this Act, and that law is continued in effect for |
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that purpose. |
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SECTION 6. This Act takes effect January 1, 2016. |