| 1 | 1 | | By: Keffer (Senate Sponsor - Averitt) H.B. No. 4247 |
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| 2 | 2 | | (In the Senate - Received from the House May 5, 2009; |
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| 3 | 3 | | May 6, 2009, read first time and referred to Committee on Natural |
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| 4 | 4 | | Resources; May 23, 2009, reported favorably by the following vote: |
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| 5 | 5 | | Yeas 9, Nays 0; May 23, 2009, sent to printer.) |
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| 6 | 6 | | |
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| 7 | 7 | | |
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| 8 | 8 | | A BILL TO BE ENTITLED |
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| 9 | 9 | | AN ACT |
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| 10 | 10 | | relating to the use of the proceeds of cash deposits filed with the |
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| 11 | 11 | | Railroad Commission of Texas by certain persons under the |
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| 12 | 12 | | jurisdiction of the commission and deposited in the oil-field |
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| 13 | 13 | | cleanup fund. |
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| 14 | 14 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 15 | 15 | | SECTION 1. Section 91.108, Natural Resources Code, is |
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| 16 | 16 | | amended to read as follows: |
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| 17 | 17 | | Sec. 91.108. DEPOSIT AND USE OF FUNDS. Subject to the |
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| 18 | 18 | | refund provisions of Section 91.1091, if applicable, proceeds from |
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| 19 | 19 | | bonds and other financial security required pursuant to this |
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| 20 | 20 | | chapter and benefits under well-specific plugging insurance |
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| 21 | 21 | | policies described by Section 91.104(c) that are paid to the state |
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| 22 | 22 | | as contingent beneficiary of the policies shall be deposited in the |
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| 23 | 23 | | oil-field cleanup fund. Proceeds from cash deposits filed with the |
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| 24 | 24 | | commission under Section 91.103 and deposited in the oil-field |
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| 25 | 25 | | cleanup fund are held in trust to be used only as provided by this |
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| 26 | 26 | | section and may not be commingled with other money in the fund. |
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| 27 | 27 | | Notwithstanding [and, notwithstanding] Sections 91.112 and 91.113, |
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| 28 | 28 | | proceeds described by this section may be used only for actual well |
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| 29 | 29 | | plugging and surface remediation. |
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| 30 | 30 | | SECTION 2. This Act takes effect September 1, 2009. |
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| 31 | 31 | | * * * * * |
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