S.B. No. 2449 amends the Natural Resources Code by adding Section 91.115, which establishes new financial assurance requirements for operators under the jurisdiction of the Railroad Commission of Texas. The bill allows the Commission to accept various financial assurance mechanisms, such as self-insurance and parental bonding, to ensure operators can meet their financial security obligations related to the operation and closure of produced water recycling pits and similar facilities. Additionally, operators with multiple subsidiaries can fulfill financial security requirements through a single consolidated bond, provided they demonstrate financial adequacy to the Commission. The Railroad Commission is tasked with developing a system for operators to submit annual reports on their facilities and ensuring proper assignment of financial responsibility during ownership changes.

Furthermore, the bill mandates the Railroad Commission to adopt necessary rules to implement these provisions by December 31, 2025, including criteria for financial adequacy, requirements for consolidated bonding structures, and procedures for tracking financial responsibility during ownership transactions. Importantly, the bill clarifies that it does not limit the Commission's authority to require additional financial security if an operator's assurance is deemed insufficient to cover potential closure and remediation costs. The act is set to take effect on September 1, 2025.

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