LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 85TH LEGISLATIVE REGULAR SESSION March 29, 2017 TO: Honorable Drew Darby, Chair, House Committee on Energy Resources FROM: Ursula Parks, Director, Legislative Budget Board IN RE:HB129 by Craddick (Relating to the manner in which a payor of proceeds derived from the sale of oil or gas production is required to provide certain information to a royalty interest owner.), As Introduced No significant fiscal implication to the State is anticipated. The bill would amend the Natural Resources Code to require the payor of oil and gas royalties to obtain the written consent of a royalty interest owner before omitting certain information from the payment remittance. Based on the analysis of the Railroad Commission and the Comptroller of Public Accounts, duties and responsibilities associated with implementing the provisions of the bill could be accomplished with existing resources. Local Government Impact No significant fiscal implication to units of local government is anticipated. Source Agencies:304 Comptroller of Public Accounts, 455 Railroad Commission LBB Staff: UP, SZ, MW, PBO
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 85TH LEGISLATIVE REGULAR SESSION
March 29, 2017
TO: Honorable Drew Darby, Chair, House Committee on Energy Resources FROM: Ursula Parks, Director, Legislative Budget Board IN RE:HB129 by Craddick (Relating to the manner in which a payor of proceeds derived from the sale of oil or gas production is required to provide certain information to a royalty interest owner.), As Introduced
TO: Honorable Drew Darby, Chair, House Committee on Energy Resources
FROM: Ursula Parks, Director, Legislative Budget Board
IN RE: HB129 by Craddick (Relating to the manner in which a payor of proceeds derived from the sale of oil or gas production is required to provide certain information to a royalty interest owner.), As Introduced
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
HB129 by Craddick (Relating to the manner in which a payor of proceeds derived from the sale of oil or gas production is required to provide certain information to a royalty interest owner.), As Introduced
HB129 by Craddick (Relating to the manner in which a payor of proceeds derived from the sale of oil or gas production is required to provide certain information to a royalty interest owner.), As Introduced
No significant fiscal implication to the State is anticipated.
No significant fiscal implication to the State is anticipated.
The bill would amend the Natural Resources Code to require the payor of oil and gas royalties to obtain the written consent of a royalty interest owner before omitting certain information from the payment remittance. Based on the analysis of the Railroad Commission and the Comptroller of Public Accounts, duties and responsibilities associated with implementing the provisions of the bill could be accomplished with existing resources.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.
Source Agencies: 304 Comptroller of Public Accounts, 455 Railroad Commission
304 Comptroller of Public Accounts, 455 Railroad Commission
LBB Staff: UP, SZ, MW, PBO
UP, SZ, MW, PBO