LEGISLATIVE BUDGET BOARD

Austin, Texas

FISCAL NOTE, 87TH LEGISLATIVE REGULAR SESSION

May 26, 2021

TO:	Honorable Dade Phelan, Speaker of the House, House of Representatives
FROM:	Jerry McGinty, Director, Legislative Budget Board
IN RE:	HB3973 by Walle (Relating to a study on abandoned oil and gas wells in this state and the use of the oil and gas regulation and cleanup fund.), As Passed 2nd House

No significant fiscal implication to the State is anticipated.

The bill would create a joint interim committee to study matters related to abandoned oil and gas wells in the state and review projected revenue to General Revenue-Dedicated Oil and Gas Regulation and Cleanup Account No. 5155. The bill would require the committee to report it's findings and recommendations to the legislature no later than December 1, 2022.

Based on information provided by the Railroad Commission, it is assumed that duties and responsibilities associated with implementing the provisions of the bill could be accomplished utilizing existing resources. 

Local Government Impact

No significant fiscal implication to units of local government is anticipated.

Source Agencies:

455 Railroad Commission

LBB Staff:

JMc, SD, KK, DA