Texas House Bill HB2713

Texas 2017 - 85th Regular

Caption

Relating to an audit by the comptroller of unpaid oil and gas royalties held in trust by the Railroad Commission of Texas.

Impact

The bill requires the comptroller to produce a report on the findings of this audit by January 1, 2019. The report must include details such as the names of payees and the respective counties where the oil or gas was produced. This provision reflects an intention to increase state oversight over oil and gas royalties and could influence future legislative actions concerning financial management in the energy sector.

Summary

House Bill 2713 mandates an audit by the comptroller of unpaid oil and gas royalties held in trust by the Railroad Commission of Texas. The goal of the bill is to evaluate the management and distribution of these royalties to ensure that all entitled parties receive their payments. It addresses financial accountability and transparency issues within the oil and gas sector, which is crucial for maintaining public trust in state regulatory bodies.

Contention

While the bill seeks to enhance transparency regarding state-held royalty payments, potential points of contention could arise from industry stakeholders. For example, some entities may fear additional scrutiny and potential liabilities that may surface as a result of the audit. Moreover, discussions around the efficacy and necessity of such audits might emerge, with proponents emphasizing the importance of financial accountability and opponents arguing against perceived governmental overreach.