LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 84TH LEGISLATIVE REGULAR SESSION May 7, 2015 TO: Honorable Drew Darby, Chair, House Committee on Energy Resources FROM: Ursula Parks, Director, Legislative Budget Board IN RE:SB1589 by Zaffirini (Relating to requirements for reporting unclaimed mineral proceeds to the comptroller of public accounts.), As Engrossed No significant fiscal implication to the State is anticipated. The bill would amend the Property Code, regarding reporting, delivery and the claims process for unclaimed property, to modify requirements for reporting unclaimed mineral proceeds to the Comptroller. The bill would require the holder of mineral proceeds to provide, in an unclaimed property report to the Comptroller, information on the lease, property, or well's name and identification number, and the county in which the lease, property or well is located. The Comptroller, in currently required reporting, would include the number of reports filed and the aggregate amount of mineral proceeds received by county under this bill's provisions. The Comptroller indicates that office can implement bill provisions within existing resources. The Railroad Commission indicates bill provisions are not anticipated to have a significant fiscal implication to the state. Local Government Impact No significant fiscal implication to units of local government is anticipated. Source Agencies:304 Comptroller of Public Accounts, 455 Railroad Commission, 305 General Land Office and Veterans' Land Board LBB Staff: UP, SZ, TB, TL
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 84TH LEGISLATIVE REGULAR SESSION
May 7, 2015
TO: Honorable Drew Darby, Chair, House Committee on Energy Resources FROM: Ursula Parks, Director, Legislative Budget Board IN RE:SB1589 by Zaffirini (Relating to requirements for reporting unclaimed mineral proceeds to the comptroller of public accounts.), As Engrossed
TO: Honorable Drew Darby, Chair, House Committee on Energy Resources
FROM: Ursula Parks, Director, Legislative Budget Board
IN RE: SB1589 by Zaffirini (Relating to requirements for reporting unclaimed mineral proceeds to the comptroller of public accounts.), As Engrossed
Honorable Drew Darby, Chair, House Committee on Energy Resources
Honorable Drew Darby, Chair, House Committee on Energy Resources
Ursula Parks, Director, Legislative Budget Board
Ursula Parks, Director, Legislative Budget Board
SB1589 by Zaffirini (Relating to requirements for reporting unclaimed mineral proceeds to the comptroller of public accounts.), As Engrossed
SB1589 by Zaffirini (Relating to requirements for reporting unclaimed mineral proceeds to the comptroller of public accounts.), As Engrossed
No significant fiscal implication to the State is anticipated.
No significant fiscal implication to the State is anticipated.
The bill would amend the Property Code, regarding reporting, delivery and the claims process for unclaimed property, to modify requirements for reporting unclaimed mineral proceeds to the Comptroller. The bill would require the holder of mineral proceeds to provide, in an unclaimed property report to the Comptroller, information on the lease, property, or well's name and identification number, and the county in which the lease, property or well is located. The Comptroller, in currently required reporting, would include the number of reports filed and the aggregate amount of mineral proceeds received by county under this bill's provisions. The Comptroller indicates that office can implement bill provisions within existing resources. The Railroad Commission indicates bill provisions are not anticipated to have a significant fiscal implication to the state.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.
Source Agencies: 304 Comptroller of Public Accounts, 455 Railroad Commission, 305 General Land Office and Veterans' Land Board
304 Comptroller of Public Accounts, 455 Railroad Commission, 305 General Land Office and Veterans' Land Board
LBB Staff: UP, SZ, TB, TL
UP, SZ, TB, TL