The bill establishes a theft of petroleum products task force under the Railroad Commission of Texas to study and recommend strategies for preventing the theft of petroleum products in the state. The task force will consist of representatives from the oil and gas industry, energy trade associations, and various law enforcement agencies. It is mandated to meet at least quarterly, with the option for virtual meetings, and will conduct an ongoing study that includes reviewing laws from other jurisdictions, analyzing the economic impacts of petroleum theft, and making recommendations for outreach and training programs.

Additionally, the task force is required to submit a report every two years, detailing its findings and legislative recommendations aimed at increasing transparency, improving security, and enhancing consumer protections related to petroleum theft. The bill specifies that the task force's operations are not subject to certain provisions of the Government Code, allowing for flexibility in its duration and leadership. The task force is to be appointed as soon as practicable after the bill's effective date, with the act set to expire on December 31, 2030, and taking effect on September 1, 2025.