Honorable Jane Nelson, Chair, Senate Committee on Finance
FROM:
Ursula Parks, Director, Legislative Budget Board
IN RE:
SB951 by Uresti (Relating to allocation of oil and gas lease and royalty payments derived from land deeded to Texas counties for road purposes.), As Introduced
No significant fiscal implication to the State is anticipated.
The bill would amend the Natural Resources Code relating to the allocation of oil and gas lease and royalty payments derived from land deeded to Texas counties for road purposes. Both the General Land Office and the Railroad Commission indicate each agency can implement bill provisions within each agency's existing resources.
This legislation would do one or more of the following: create or recreate a dedicated account in the General Revenue Fund, create or recreate a special or trust fund either with or outside of the Treasury, or create a dedicated revenue source. The fund, account, or revenue dedication included in this bill would be subject to funds consolidation review by the current Legislature.
Local Government Impact
There may be an increase in revenue to certain counties depending on the number of oil and gas lease and royalty payments derived from lands owned by that county. The Comptroller indicates that because the land owned in fee by a county is undefined, the fiscal implication to counties is unknown.
Source Agencies:
304 Comptroller of Public Accounts, 305 General Land Office and Veterans' Land Board, 455 Railroad Commission