| 1 | 1 | | 84R19518 PMO-D |
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| 2 | 2 | | By: Guillen H.B. No. 1575 |
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| 3 | 3 | | Substitute the following for H.B. No. 1575: |
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| 4 | 4 | | By: Anchia C.S.H.B. No. 1575 |
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| 5 | 5 | | |
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| 6 | 6 | | |
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| 7 | 7 | | A BILL TO BE ENTITLED |
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| 8 | 8 | | AN ACT |
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| 9 | 9 | | relating to requirements for reporting unclaimed mineral proceeds |
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| 10 | 10 | | to the comptroller of public accounts. |
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| 11 | 11 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 12 | 12 | | SECTION 1. Section 74.101, Property Code, is amended by |
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| 13 | 13 | | adding Subsection (e) to read as follows: |
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| 14 | 14 | | (e) A holder of mineral proceeds under Chapter 75 that is |
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| 15 | 15 | | regulated by the Railroad Commission of Texas under Chapter 91, |
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| 16 | 16 | | Natural Resources Code, shall include in the property report for |
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| 17 | 17 | | the proceeds, in addition to the information listed in Subsection |
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| 18 | 18 | | (c), the following information with respect to each well the |
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| 19 | 19 | | production from which resulted in the proceeds: |
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| 20 | 20 | | (1) all information required under Section 91.502(1), |
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| 21 | 21 | | Natural Resources Code; |
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| 22 | 22 | | (2) the survey name for the location of the well; and |
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| 23 | 23 | | (3) from the Railroad Commission of Texas Form W-1 |
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| 24 | 24 | | (Application for Permit to Drill, Deepen, Plug-back or Re-enter): |
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| 25 | 25 | | (A) the General Land Office abstract number for |
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| 26 | 26 | | the location of the well; and |
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| 27 | 27 | | (B) the global positioning system coordinates |
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| 28 | 28 | | for the location of the well. |
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| 29 | 29 | | SECTION 2. Section 74.101(e), Property Code, as added by |
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| 30 | 30 | | this Act, applies only to a report filed on or after the effective |
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| 31 | 31 | | date of this Act. A report filed before the effective date of this |
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| 32 | 32 | | Act is governed by the law as it existed immediately before the |
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| 33 | 33 | | effective date of this Act, and that law is continued in effect for |
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| 34 | 34 | | that purpose. |
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| 35 | 35 | | SECTION 3. This Act takes effect January 1, 2016. |
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