LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 81ST LEGISLATIVE REGULAR SESSION March 31, 2009 TO: Honorable Jim Keffer, Chair, House Committee on Energy Resources FROM: John S. O'Brien, Director, Legislative Budget Board IN RE:HB2087 by Homer (Relating to the state's statutory and contractual liens to secure the payment of unpaid royalty and other amounts due under oil and gas leases of state land.), As Introduced No significant fiscal implication to the State is anticipated. The bill would contractually obligate a lessee to grant to the state a lien on and security interest in all oil and gas in and extracted from the area covered by the lease, all proceeds which may accrue to the lessee from the sale of the oil and gas extracted from the area covered by the lease or from the area covered by any other lease of state land or minerals held by the lessee. The bill would thus assist the General Land Office in collecting lease revenues due to the state, that might otherwise be non-collectible under existing statute. The amount of additional revenue expected to be collected as a result of the bill's passage is not expected to be significant. Local Government Impact No significant fiscal implication to units of local government is anticipated. Source Agencies:302 Office of the Attorney General, 304 Comptroller of Public Accounts, 305 General Land Office and Veterans' Land Board LBB Staff: JOB, WK, TL
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 81ST LEGISLATIVE REGULAR SESSION
March 31, 2009
TO: Honorable Jim Keffer, Chair, House Committee on Energy Resources FROM: John S. O'Brien, Director, Legislative Budget Board IN RE:HB2087 by Homer (Relating to the state's statutory and contractual liens to secure the payment of unpaid royalty and other amounts due under oil and gas leases of state land.), As Introduced
TO: Honorable Jim Keffer, Chair, House Committee on Energy Resources
FROM: John S. O'Brien, Director, Legislative Budget Board
IN RE: HB2087 by Homer (Relating to the state's statutory and contractual liens to secure the payment of unpaid royalty and other amounts due under oil and gas leases of state land.), As Introduced
Honorable Jim Keffer, Chair, House Committee on Energy Resources
Honorable Jim Keffer, Chair, House Committee on Energy Resources
John S. O'Brien, Director, Legislative Budget Board
John S. O'Brien, Director, Legislative Budget Board
HB2087 by Homer (Relating to the state's statutory and contractual liens to secure the payment of unpaid royalty and other amounts due under oil and gas leases of state land.), As Introduced
HB2087 by Homer (Relating to the state's statutory and contractual liens to secure the payment of unpaid royalty and other amounts due under oil and gas leases of state land.), As Introduced
No significant fiscal implication to the State is anticipated.
No significant fiscal implication to the State is anticipated.
The bill would contractually obligate a lessee to grant to the state a lien on and security interest in all oil and gas in and extracted from the area covered by the lease, all proceeds which may accrue to the lessee from the sale of the oil and gas extracted from the area covered by the lease or from the area covered by any other lease of state land or minerals held by the lessee. The bill would thus assist the General Land Office in collecting lease revenues due to the state, that might otherwise be non-collectible under existing statute. The amount of additional revenue expected to be collected as a result of the bill's passage is not expected to be significant.
The bill would contractually obligate a lessee to grant to the state a lien on and security interest in all oil and gas in and extracted from the area covered by the lease, all proceeds which may accrue to the lessee from the sale of the oil and gas extracted from the area covered by the lease or from the area covered by any other lease of state land or minerals held by the lessee. The bill would thus assist the General Land Office in collecting lease revenues due to the state, that might otherwise be non-collectible under existing statute.
The amount of additional revenue expected to be collected as a result of the bill's passage is not expected to be significant.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.
Source Agencies: 302 Office of the Attorney General, 304 Comptroller of Public Accounts, 305 General Land Office and Veterans' Land Board
302 Office of the Attorney General, 304 Comptroller of Public Accounts, 305 General Land Office and Veterans' Land Board
LBB Staff: JOB, WK, TL
JOB, WK, TL