By: Walle, Morales Shaw, Zwiener H.B. No. 3973         (Senate Sponsor - Nichols)          (In the Senate - Received from the House May 3, 2021;   May 17, 2021, read first time and referred to Committee on Finance;   May 21, 2021, reported adversely, with favorable Committee   Substitute by the following vote:  Yeas 12, Nays 0; May 21, 2021,   sent to printer.)Click here to see the committee vote     COMMITTEE SUBSTITUTE FOR H.B. No. 3973 By:  Nichols     A BILL TO BE ENTITLED   AN ACT     relating to a study on abandoned oil and gas wells in this state and   the use of the oil and gas regulation and cleanup fund.          BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:          SECTION 1.  (a)  A joint interim committee is created to   study abandoned oil and gas wells in this state and the use of the   oil and gas regulation and cleanup fund.          (b)  The committee shall be composed of:                (1)  five members appointed by the lieutenant governor;   and                (2)  five members appointed by the speaker of the house   of representatives.          (c)  The committee shall convene at the call of the presiding   officer.          (d)  The committee has all other powers and duties provided   to a special or select committee by the rules of the senate and   house of representatives, by Subchapter B, Chapter 301, Government   Code, and by policies of the senate and house committees on   administration.          (e)  Not later than the 60th day after the effective date of   this Act, the lieutenant governor and the speaker of the house of   representatives shall appoint the members of the interim committee   created under this section.          (f)  The committee shall:                (1)  study matters related to abandoned oil and gas   wells in this state, including the costs associated with plugging   abandoned wells and bonding requirements imposed on owners or   operators of oil and gas wells;                (2)  identify potential solutions to reduce the need   for general revenue spending to plug abandoned wells;                (3)  conduct review of the oil and gas regulation and   cleanup fund, including:                      (A)  revenue sources of the fund;                      (B)  projected revenue for the fund through fiscal   year 2025 based on the fund's existing fee and fine structure; and                      (C)  an assessment of the rules and statutory   limits that determine the amount of the fees and fines that   contribute to the fund; and,                (4)  evaluate and identify other sources of potential   revenue, including federal funds and other existing taxes and fees   paid to the benefit of the state which could be utilized to meet the   goals of the committee.          (g)  The Railroad Commission of Texas shall provide   information to the committee necessary to conduct the study under   Subsection (f) of this section, including information related to:                (1)  budget and performance measures of the commission   and fees and fines collected by the commission; and                (2)  any regulatory or statutory changes needed to   assure adequate operating revenue for the commission, including   revenue used to plug abandoned oil and gas wells.          (h)  Not later than December 1, 2022, the joint interim   committee shall report the committee's findings and   recommendations to the legislature.          (i)  The committee is abolished and this section expires   January 1, 2023.          SECTION 2.  This Act takes effect September 1, 2021.     * * * * *