85R732 SMH-D
By: Craddick H.B. No. 129
A BILL TO BE ENTITLED
AN ACT
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.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 91.506, Natural Resources Code, is
amended to read as follows:
Sec. 91.506. EXEMPTION. If the payor obtains the written
consent of the royalty interest owner to provide the information
required by Section 91.502 [is provided] in some other manner and
the payor provides the information in that manner on a monthly
basis, the payor is not required to include the information on the
check stub, attachment to the payment form, or other remittance
advice.
SECTION 2. This Act takes effect immediately if it receives
a vote of two-thirds of all the members elected to each house, as
provided by Section 39, Article III, Texas Constitution. If this
Act does not receive the vote necessary for immediate effect, this
Act takes effect September 1, 2017.