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History
- Referred to environmental conservation
- Referred to environmental conservation
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Relates to rights and obligations of a municipality electing integrated non-participating owner status in gas and oil wells
In Assembly Committee · Environmental Conservation · Sponsor William Parment
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
Title of bill
An act to amend the environmental conservation law, in relation to rights and obligations of a municipality electing integrated non-participating owner status in gas and oil wells
Purpose or general idea of bill
The purpose of this legislation is to allow municipalities to choose to be integrated in oil and gas well as a non-participating owner.
Summary of specific provisions
Subparagraph 1 of paragraph a of subdivision 3 of section23-090 1 of the environmental conservation law is amended.
Justification
Under current law, municipalities can not exercise the election of integrated non-participating owner status when participating in a gas and oil well. Municipalities can not assume the liability of the well and its operation.
This legislation will free the municipality of liability and treat them as if they were a lessee so that they may obtain the same benefits as a private land owner. This change in law will allow them to participate in a well as an integrated non-participating owner and therefore make them eligible to receive a higher royalty payment.
Prior legislative history
This is new legislation.
Fiscal implications
This legislation has no fiscal implications for the State. By allowing municipalities to participate in gas and oil wells as an integrated non-participating owner, with no liabilities, the municipalities may realize higher royalty payments.
Effective date
Immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.