Issue Date:
Revised Date: 2018-02-15

Legal Cites

Object Type

Cash — Natural Resources

Origin Date

1937 by the 45th Leg

Description

Royalty on oil produced on lands under direct control of Texas A&M University at the rate of  no less than 1/8 of gross production. Shut-in oil royalty charged on wells capable of production, where oil is not being produced for lack of suitable production facilities or market, in an amount equal to twice the annual rental provided on the lease but not less than $1,200 a year for each well capable of producing in paying quantities. 

Due Date

On or before the last day of each month on production of preceding month.

Collecting Agencies

Note

Amended by H.B. 1691, 67th Leg., R.S.

USAS Values

Appropriation Year 24
USAS Title OIL ROYAL-LAND EDUCATION INSTS
Receipt Category 08 – Natural Resources
Receipt Type 80 – Land Income
Object Group 30 – Revenues
USAS Status A
Rev/Exp Category 04 – LAND INCOME