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F I S C A L I M P A C T R E P O R T
SPONSOR Ortiz y Pino
DATE TYPED 3/14/05
HB
SHORT TITLE Oil & Gas Industry Regulation Efficiency
SB SM 27/aSRC
ANALYST Aguilar
APPROPRIATION
Appropriation Contained Estimated Additional Impact Recurring
or Non-Rec
Fund
Affected
FY05
FY06
FY05
FY06
NFI
(Parenthesis ( ) Indicate Expenditure Decreases)
Duplicates HM 39
SOURCES OF INFORMATION
LFC Files
Responses Received From
Energy, Minerals and Natural Resources (EMNRD)
SUMMARY
Synopsis of SRC Amendment
The Senate Rules Committee amendment to Senate Memorial 27 clarifies that the Oil Conserva-
tion Division as a part of its review will solicit input from stakeholder groups and further speci-
fies members of those groups. The amendment further requests the division report its findings to
the LFC and the revenue stabilization and tax policy committee by December 1, 2005.
Synopsis of Original Bill
The memorial requests the Oil Conservation Division conduct a study, with input from stake-
holder groups, of the adequacy of the Oil and Gas Act to provide authority for effective regula-
tion of the oil and gas industry and of the adequacy of the staffing and funding of OCD to carry
out that mission.
OCD is requested to report its conclusions and recommendations (including proposed amend-
ments to the act) to the 2006 session of the Legislature.