LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 83RD LEGISLATIVE REGULAR SESSION March 28, 2013 TO: Honorable Troy Fraser, Chair, Senate Committee on Natural Resources FROM: Ursula Parks, Director, Legislative Budget Board IN RE:SB1094 by Hinojosa (Relating to security interests in oil and gas production and its proceeds.), As Introduced No significant fiscal implication to the State is anticipated. The bill amends Chapter 9 of the Texas Business and Commerce Code. The bill makes changes to the perfection and priority of security interests. The bill takes effect immediately with two-thirds vote or September 1, 2013. Local Government Impact Local governments may be impacted if they have security interests in oil and gas production. Source Agencies:455 Railroad Commission LBB Staff: UP, SZ, SD, KK
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 83RD LEGISLATIVE REGULAR SESSION
March 28, 2013
TO: Honorable Troy Fraser, Chair, Senate Committee on Natural Resources FROM: Ursula Parks, Director, Legislative Budget Board IN RE:SB1094 by Hinojosa (Relating to security interests in oil and gas production and its proceeds.), As Introduced
TO: Honorable Troy Fraser, Chair, Senate Committee on Natural Resources
FROM: Ursula Parks, Director, Legislative Budget Board
IN RE: SB1094 by Hinojosa (Relating to security interests in oil and gas production and its proceeds.), As Introduced
Honorable Troy Fraser, Chair, Senate Committee on Natural Resources
Honorable Troy Fraser, Chair, Senate Committee on Natural Resources
Ursula Parks, Director, Legislative Budget Board
Ursula Parks, Director, Legislative Budget Board
SB1094 by Hinojosa (Relating to security interests in oil and gas production and its proceeds.), As Introduced
SB1094 by Hinojosa (Relating to security interests in oil and gas production and its proceeds.), As Introduced
No significant fiscal implication to the State is anticipated.
No significant fiscal implication to the State is anticipated.
The bill amends Chapter 9 of the Texas Business and Commerce Code. The bill makes changes to the perfection and priority of security interests. The bill takes effect immediately with two-thirds vote or September 1, 2013.
Local Government Impact
Local governments may be impacted if they have security interests in oil and gas production.
Source Agencies: 455 Railroad Commission
455 Railroad Commission
LBB Staff: UP, SZ, SD, KK
UP, SZ, SD, KK