84R9382 SLB-D
By: Burton S.B. No. 1531
A BILL TO BE ENTITLED
AN ACT
relating to the use of revenue derived from oil and gas by the
Tarrant Regional Water District.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Chapter 268, Acts of the 55th Legislature,
Regular Session, 1957, is amended by adding Section 23 to read as
follows:
Sec. 23. The district shall expend 50 percent of any
district revenue derived from oil and gas leases or payments from
businesses engaged in the production of oil and gas in a manner that
will result in a reduction of district water rates for all district
customers.
SECTION 2. The changes in law made by this Act apply only to
revenue derived from oil and gas collected on or after September 1,
2015. Revenue collected before that date is governed by the law in
effect at the time the revenue was collected, and that law is
continued in effect for that purpose.
SECTION 3. This Act takes effect September 1, 2015.