Bill No.: SF0022                  Drafter:  LNS

 

LSO No.:  11LSO-0065              Effective Date:  4/1/2011

 

Enrolled Act No.:  SEA0003

 

Chapter No.:       CH0003

 

Prime Sponsor:     Joint Judiciary Interim Committee

 

Catch Title:       Wind energy property rights.

 

Subject:  Property rights in the development of wind energy.

 

Summary/Major Elements:

 

·        This act creates a property right in the development of wind energy. 

 

·        This act provides that the property right is an interest in real property.  It is attached to the surface estate and cannot be severed from the surface estate.

 

·        This act allows wind energy property rights to be developed through wind energy agreements.  A wind energy agreement (or a notice of an agreement) must be recorded with the county clerk. 

 

·        This act does not affect wind energy agreements entered into before April 1, 2011 if they are recorded on or before July 1, 2011.

 

·        The act clarifies that wind energy becomes personal property when it is converted into electricity.

 

 

Comments:

 

· Popular name: Wind Energy Rights

 

· The act becomes effective April 1, 2011.