By: Zaffirini S.B. No. 1589
 
 
 
   
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to requirements for reporting unclaimed mineral proceeds
  to the comptroller of public accounts.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Section 74.101, Property Code, is amended by
  adding Subsection (e) to read as follows:
         (e)  A holder of mineral proceeds under Chapter 75 that is
  regulated by the Railroad Commission of Texas under Chapter 91,
  Natural Resources Code, shall include in the property report for
  the proceeds, in addition to the information listed in Subsection
  (c), the following information with respect to each well the
  production from which resulted in the proceeds:
               (1)  the survey name for the location of the well;
               (2)  from the Railroad Commission of Texas Form W-1
  (Application for Permit to Drill, Deepen, Plug-back or Re-enter):
                     (A)  the General Land Office abstract number for
  the location of the well; and
                     (B)  the global positioning system coordinates
  for the location of the well; and
               (3)  the lease, property, or well name, any lease,
  property, or well identification number used to identify the lease,
  property, or well, and a county and state in which the lease,
  property, or well is located.
         SECTION 2.  Section 74.101(e), Property Code, as added by
  this Act, applies only to a report filed on or after the effective
  date of this Act. A report filed before the effective date of this
  Act is governed by the law as it existed immediately before the
  effective date of this Act, and that law is continued in effect for
  that purpose.
         SECTION 3.  This Act takes effect September 1, 2015.