| Issue Date: | |
|---|---|
| Revised Date: | 2018-02-15 |
Legal Cites
- Natural Resources Code sec. 32.1072, sec. 52.024
Object Type
Cash — Natural Resources
Origin Date
1919 by the 36th Leg
Description
A royalty of no less than 1/8 of the gross production of oil produced from lands belonging to eleemosynary institutions. 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 for production of preceding month.
Collecting Agencies
- 305 – General Land Office for the appropriate institution
Deposit Funds
Special building funds and special mineral funds and accounts of eleemosynary institutions, using the agency number of the agency that has administrative authority for the funds.
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 |