Relating to the abandonment of mineral proceeds for purposes of certain unclaimed property laws.

89(R) HB 5103 - Introduced version - Bill Text

By: Rosenthal

H.B. No. 5103

A BILL TO BE ENTITLED

AN ACT

relating to the abandonment of mineral proceeds for purposes of

certain unclaimed property laws.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:

SECTION 1. Sections 75.001(a)(1) and (2), Property Code,

are amended to read as follows:

(1) "Mineral" means oil, gas, uranium, sulphur,

lignite, coal,
lithium, salt, bromine,
and any other substance that

is ordinarily and naturally considered a mineral in this state,

regardless of
:

(A)
the depth at which the oil, gas, uranium,

sulphur, lignite, coal,
lithium, salt, bromine,
or other substance

is found
; and

(B)

whether the oil, gas, uranium, sulphur,

lignite, coal, lithium, salt, bromine, or other substance is found

within a liquid, gas, or solid that is ordinarily and naturally

considered a nonmineral in this state
.

(2) "Mineral proceeds" includes:

(A) all obligations to pay resulting from the

production and sale of
all
minerals
produced
, including net revenue

interests, royalties, overriding royalties, production payments,

and joint operating agreements; and

(B) all obligations for the acquisition and

retention of a mineral lease, including bonuses, delay rentals,

shut-in royalties, and minimum royalties.

SECTION 2. This Act takes effect September 1, 2025.