LEGISLATIVE BUDGET BOARD
Austin, Texas
 
FISCAL NOTE, 87TH LEGISLATIVE REGULAR SESSION
 
May 21, 2021

TO:
Honorable Jane Nelson, Chair, Senate Committee on Finance
 
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.), Committee Report 2nd House, Substituted

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, KK, DA