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HB 1371OKLAHOMASession 2026State BillSigned into law
Enacted

Oklahoma creates Mineral Owner's Fund and sets unclaimed mineral proceeds rules

Original title: Oil and gas; interest; remittance; escrow account; relief of liability; effective date.

Last action · May 6, 2026: Approved by Governor 05/06/2026Sponsors: Tammy West and 12 others

Bill progressHistory & official text ↓
Introduced
Committee
Floor Vote
Passed
Law

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What This Bill Does

Enrolled House Bill 1371 authorizes oil and gas payors to remit long-unpaid mineral proceeds and interest to a newly established Mineral Owner's Fund administered by the Office of the State Treasurer after 36 months, relieving payors of further liability. The measure also modifies interest rates on late production proceeds, sets rules for s and uncashed checks, and adjusts unclaimed property abandonment timelines.

Why it matters

Mineral owners and energy companies face altered timelines and legal frameworks for unclaimed oil and gas royalties, affecting how funds are held, when interest accrues, and how owners recover long-suspended payments.

Background
  • The Production Revenue Standards Act governs how and when proceeds from oil and gas production must be paid to mineral rights owners in Oklahoma. context
  • The Office of the State Treasurer manages state funds, deposits, and various escrow accounts established under Oklahoma statutes. context

Who It Affects

Groups the bill's text affects, as described in the record. Being affected is not a position for or against it.

Directly affected

mineral owners

Mineral owners can have their long-unpaid proceeds remitted to the Mineral Owner's Fund and must submit proof of identity and ownership to the State Treasurer to recover them.

Directly affected

oil and gas first purchasers and payors

Payors are authorized to remit unpaid proceeds and accrued interest to the Mineral Owner's Fund after 36 months as an alternative to interpleader actions, relieving them of further liability.

Directly affected

Office of the State Treasurer

The agency is required to establish and administer a separate interest-bearing escrow account for the Mineral Owner's Fund.

Key Facts

You don't have to trust us. Each fact below is taken straight from the official document - click any one to see the exact passage, highlighted in the original.

Frequently Asked Questions

What is the Mineral Owner's Fund?
It is a separate escrow account established and administered by the Office of the State Treasurer to hold unpaid production proceeds and interest remitted by payors after 36 months.
How can a mineral owner claim funds remitted to the Mineral Owner's Fund?
An owner can claim and receive proceeds and accrued interest by submitting sufficient proof of identity and ownership to the Office of the State Treasurer.
What interest rate applies to late production proceeds under the act?
Late production proceeds earn interest at the rate of fifteen percent (15%) per annum compounded annually, calculated from the end of the month in which production was sold.

What else do you want to know?

News Coverage

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Votes, people, money & the original source

Where This Stands

Current status: Signed into law.

Procedural history

46 actions
  1. May 6, 2026HouseEnrolled
    Approved by Governor 05/06/2026
  2. May 4, 2026House
    Sent to Governor
  3. May 4, 2026Senate
    Enrolled measure signed, returned to House
  4. May 4, 2026House
    Enrolled, signed, to Senate
  5. Apr 29, 2026HouseCommittee
    Referred for enrollment
  6. Apr 29, 2026HouseFloor
    Fourth Reading, Measure passed: Ayes: 88 Nays: 3
Show 40 earlier actions
  1. Apr 29, 2026House
    Coauthored by Representative(s) Stark
  2. Apr 29, 2026HouseFloor
    SA's read, adopted
  3. Apr 16, 2026House
    SA's received
  4. Apr 16, 2026Senate
    Engrossed to House
  5. Apr 15, 2026SenateCommittee
    Referred for engrossment
  6. Apr 15, 2026Senate
    Coauthored by Senator Woods
  7. Apr 15, 2026SenateFloor
    Measure passed: Ayes: 44 Nays: 0
  8. Apr 15, 2026Senate
    Enacting clause restored
  9. Apr 15, 2026Senate
    Title restored
  10. Apr 15, 2026Senate
    General Order, Amended by Floor Substitute
  11. Apr 15, 2026Senate
    Coauthored by Senator Pugh
  12. Apr 15, 2026Senate
    Coauthored by Senator Hall
  13. Apr 15, 2026Senate
    Coauthored by Senator Coleman
  14. Apr 15, 2026Senate
    Coauthored by Senator Haste
  15. Apr 15, 2026Senate
    Coauthored by Senator Thompson
  16. Apr 15, 2026Senate
    Coauthored by Senator Seifried
  17. Apr 15, 2026Senate
    Coauthored by Representative West (Tammy)
  18. Apr 15, 2026Senate
    Coauthored by Representative Sterling
  19. Apr 15, 2026Senate
    Coauthored by Senator Stanley
  20. Apr 14, 2026Senate
    Coauthored by Representative Boles
  21. Apr 14, 2026Senate
    remove as principal author Representative Boles and substitute with Representative Moore
  22. Apr 14, 2026Senate
    Coauthored by Senator Mann
  23. Apr 29, 2025Senate
    Placed on General Order
  24. Apr 24, 2025Senate
    Enacting clause stricken
  25. Apr 24, 2025SenateFloor
    Reported Do Pass as amended Energy committee; CR filed
  26. Apr 1, 2025SenateCommittee
    Second Reading referred to Energy
  27. Mar 27, 2025SenateIntroduced
    First Reading
  28. Mar 27, 2025House
    Engrossed, signed, to Senate
  29. Mar 26, 2025HouseCommittee
    Referred for engrossment
  30. Mar 26, 2025HouseFloor
    Third Reading, Measure passed: Ayes: 95 Nays: 0
  31. Mar 26, 2025House
    Title stricken
  32. Mar 26, 2025House
    Amended
  33. Mar 26, 2025House
    General Order
  34. Mar 5, 2025HouseFloor
    CR; Do Pass Energy and Natural Resources Oversight Committee
  35. Feb 5, 2025House
    Authored by Senator Green (principal Senate author)
  36. Feb 5, 2025HouseFloor
    Policy recommendation to the Energy and Natural Resources Oversight committee; Do Pass Energy
  37. Feb 4, 2025HouseCommittee
    Referred to Energy
  38. Feb 4, 2025HouseCommittee
    Second Reading referred to Energy and Natural Resources Oversight
  39. Feb 3, 2025House
    Authored by Representative Boles
  40. Feb 3, 2025HouseIntroduced
    First Reading

Version history

Only one version on file - nothing to compare yet. As later stages (committee substitute, engrossed, enrolled) are captured, the redline appears here.

View official text →

Lobbying Activity

No state lobbying filings in our records match this bill. Federal lobbying reports (LDA) cover Congress, so they are not listed on state bills.

Full breakdown

Who this bill affects and the strongest case for and against it, written only from the bill’s own text.

Sponsors

Tammy WestHouse · District 84RepublicanPrimary sponsor
Marilyn StarkHouse · District 100RepublicanCosponsor
Brad BolesHouse · District 51RepublicanCosponsor
Danny SterlingHouse · District 27RepublicanCosponsor
Adam PughSenate · District 41RepublicanCosponsor
Show 8 more sponsors
Bill ColemanSenate · District 10RepublicanCosponsor
Ally SeifriedSenate · District 2RepublicanCosponsor
Mark MannSenate · District 46DemocraticCosponsor
Kristen ThompsonSenate · District 22RepublicanCosponsor
Tom WoodsSenate · District 4RepublicanCosponsor
Chuck HallSenate · District 20RepublicanCosponsor
John HasteSenate · District 36RepublicanCosponsor
Brenda StanleySenate · District 42RepublicanCosponsor

Discoveries

1 pattern noticed across the record

Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.

policy shift98% confidence

Creation of Mineral Owner's Fund Escrow

The legislation introduces a 36-month remittance pathway to the State Treasurer as an alternative to court interpleader actions for unresolved mineral proceeds.

Office of the State TreasurerMineral Owner's Fund

Connected Entities

Office of the State Treasurer, Marilyn Stark, Tom Woods and 13 more
OrganizationOffice of the State Treasurer“Required to establish and administer the Mineral Owner's Fund escrow account”Map →
PersonMarilyn Stark“House author listed on the bill”Map →
PersonTom Woods“Senate author listed on the bill”Map →
PersonKristen Thompson“Senate author listed on the bill”Map →
PersonMark Mann“Senate author listed on the bill”Map →
PersonDanny Sterling“House author listed on the bill”Map →
PersonMoore“House author listed on the bill”Map →
PersonTammy West“House sponsor of HB 1371”Map →
PersonBrad Boles“House author listed on the bill”Map →
PersonGreen“Senate author listed on the bill”Map →
PersonBill Coleman“Senate author listed on the bill”Map →
PersonChuck Hall“Senate author listed on the bill”Map →
PersonAdam Pugh“Senate author listed on the bill”Map →
PersonJohn Haste“Senate author listed on the bill”Map →
PersonAlly Seifried“Senate author listed on the bill”Map →
PersonBrenda Stanley“Senate author listed on the bill”Map →

Sources

Open source document

www.oklegislature.gov

Analysis Score

0–100
  • Significance75
    How much this matters to a regular citizen
  • Controversy30
    Intensity of disagreement among stakeholders
  • Entertainment5
    Compellingness for a non-policy-wonk reader
  • Buzz25
    Current news / social attention level

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