Honorable Craig Estes, Chair, Senate Committee on Natural Resources & Economic Development
FROM:
Ursula Parks, Director, Legislative Budget Board
IN RE:
HB129 by Craddick (relating to the manner in which a payor of proceeds derived from the sale of oil or gas production is required to provide certain information to a royalty interest owner.), Committee Report 2nd House, Substituted
No significant fiscal implication to the State is anticipated.
The bill would amend the Natural Resources Code to require the payor of oil and gas royalty payments by a paper check to obtain the consent of a royalty interest owner to provide certain required information. Based on the analysis of the Railroad Commission and the Comptroller of Public Accounts, duties and responsibilities associated with implementing the provisions of the bill could be accomplished using existing resources.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.
Source Agencies:
304 Comptroller of Public Accounts, 455 Railroad Commission