By: Zaffirini S.B. No. 1589
A BILL TO BE ENTITLED
AN ACT
relating to requirements for reporting unclaimed mineral proceeds
to the comptroller of public accounts.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 74.101, Property Code, is amended by
adding Subsection (e) to read as follows:
(e) A holder of mineral proceeds under Chapter 75 that is
regulated by the Railroad Commission of Texas under Chapter 91,
Natural Resources Code, shall include in the property report for
the proceeds, in addition to the information listed in Subsection
(c), the following information with respect to each well the
production from which resulted in the proceeds:
(1) the lease, property, or well name;
(2) any lease, property, or well identification number
used to identify the lease, property, or well; and
(3) the county in which the lease, property, or well is
located.
SECTION 2. The heading to Section 74.104, Property Code, is
amended to read as follows:
Sec. 74.104. CONFIDENTIALITY OF PROPERTY REPORT;
EXCEPTIONS.
SECTION 3. Section 74.104, Property Code, is amended by
amending Subsection (a) and adding Subsections (c), (d), and (e) to
read as follows:
(a) Except as provided by Subsection (c) and Section 74.201,
74.203, or 74.307, a property report filed with the comptroller
under Section 74.101 is confidential until the second anniversary
of the date the report is filed.
(c) The information reported under Section 74.101(e) is
confidential and not subject to disclosure under Chapter 552,
Government Code.
(d) Notwithstanding Subsection (c), the comptroller may
release the information about a well reported under Section
74.101(e) to a claimant of mineral proceeds from the well if the
claim is approved by the comptroller under Section 74.501.
(e) Notwithstanding Subsection (c), the information
compiled under Section 74.307(a)(2) is subject to disclosure under
Chapter 552, Government Code.
SECTION 4. Section 74.307, Property Code, is amended to
read as follows:
Sec. 74.307. LIST OF OWNERS; OTHER PUBLIC INFORMATION.
(a) The comptroller shall compile and revise each year:
(1) [,] except as to amounts reported in the
aggregate, an alphabetical list of the names and last known
addresses of the owners listed in the reports and the amount
credited to each account; and
(2) an alphabetical list by county of:
(A) the number of reports filed under Section
74.101 for mineral proceeds attributable to all wells located in
each respective county; and
(B) the aggregate amount of mineral proceeds
reported under Section 74.101 attributable to all wells, if any,
located in each respective county.
(b) The comptroller shall make the lists [list] available
for public inspection during all reasonable business hours.
SECTION 5. Section 74.101(e), Property Code, as added by
this Act, applies only to a report filed on or after the effective
date of this Act. A report filed before the effective date of this
Act is governed by the law as it existed immediately before the
effective date of this Act, and that law is continued in effect for
that purpose.
SECTION 6. This Act takes effect January 1, 2016.