A. Effective July 1, 2013, all duties, assets and obligations of the Commission on Marginally Producing Oil and Gas Wells created pursuant to Section 700 of Title 52 of the Oklahoma Statutes shall be transferred to the authority of the Committee for Sustaining Oklahoma's Energy Resources created pursuant to Section 288.5A of Title 52 of the Oklahoma Statutes.

B. Effective July 1, 2013, the terms of the members of the Commission on Marginally Producing Oil and Gas Wells appointed pursuant to the provisions of Section 700 of Title 52 of the Oklahoma Statutes shall be terminated.

C. Effective July 1, 2013, all unclassified full-time-equivalent, part-time, and temporary employees of the Commission on Marginally Producing Oil and Gas Wells shall be terminated. Employees shall be paid for any accrued annual leave and may be eligible for other benefits as provided by law.

D. Activities and functions previously performed by the Commission on Marginally Producing Oil and Gas Wells shall be under the responsibility of the Committee for Sustaining Oklahoma's Energy Resources or a successor committee as provided by law. The Committee may organize itself, create subcommittees or adopt procedures as deemed necessary and appropriate and consistent with the provisions of this act to implement the provisions of this act and carry out the functions and duties of the Commission on Marginally Producing Oil and Gas Wells with the exception of making annual reports as required by paragraph 7 of subsection A of Section 701 of Title 52 of the Oklahoma Statutes.

E. Monies remaining in the Commission on Marginally Producing Oil and Gas Wells Revolving Fund created in Section 705 of Title 52 of the Oklahoma Statutes shall be transferred to the credit of the Sustaining Oklahoma's Energy Resources Revolving Fund created in Section 288.5B of Title 52 of the Oklahoma Statutes for use as provided in this act.

F. The Committee for Sustaining Oklahoma's Energy Resources with the advice and consent of the Oklahoma Energy Resources Board is authorized to promulgate any rules necessary to implement the provisions of this act. The Secretary of Energy may provide assistance as necessary to oversee the transfer of duties, assets and obligations pursuant to this act.