LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 81ST LEGISLATIVE REGULAR SESSION April 8, 2009 TO: Honorable Kip Averitt, Chair, Senate Committee on Natural Resources FROM: John S. O'Brien, Director, Legislative Budget Board IN RE:SB1823 by Seliger (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 General Land Office reports that the bill would enhance the agency's ability to collect revenues due to the state that might otherwise be non-collectible under existing statute. This estimate does not assume that the amount of additional revenue that might be collected upon passage of the bill would be significant to the state. Local Government Impact No significant fiscal implication to units of local government is anticipated. Source Agencies:305 General Land Office and Veterans' Land Board LBB Staff: JOB, TL, SD
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 81ST LEGISLATIVE REGULAR SESSION
April 8, 2009
TO: Honorable Kip Averitt, Chair, Senate Committee on Natural Resources FROM: John S. O'Brien, Director, Legislative Budget Board IN RE:SB1823 by Seliger (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 Kip Averitt, Chair, Senate Committee on Natural Resources
FROM: John S. O'Brien, Director, Legislative Budget Board
IN RE: SB1823 by Seliger (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 Kip Averitt, Chair, Senate Committee on Natural Resources
Honorable Kip Averitt, Chair, Senate Committee on Natural Resources
John S. O'Brien, Director, Legislative Budget Board
John S. O'Brien, Director, Legislative Budget Board
SB1823 by Seliger (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
SB1823 by Seliger (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 General Land Office reports that the bill would enhance the agency's ability to collect revenues due to the state that might otherwise be non-collectible under existing statute. This estimate does not assume that the amount of additional revenue that might be collected upon passage of the bill would be significant to the state.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.
Source Agencies: 305 General Land Office and Veterans' Land Board
305 General Land Office and Veterans' Land Board
LBB Staff: JOB, TL, SD
JOB, TL, SD