| Issue Date: | |
|---|---|
| Revised Date: | 2018-02-16 |
Legal Cites
- Education Code sec. 85.55(c)
- Natural Resources Code sec. 52.024
Object Type
Cash — Natural Resources
Origin Date
1937 by the 45th Leg.
Description
A royalty from all gas produced on lands under direct control of Texas A&M University at a rate of at least 1/8 of gross production. Shut-in gas royalty charged on wells capable of production where gas 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
- 305 – General Land Office for the Texas A&M University System, Agency 710.
Deposit Funds
- GR Account - 0095 – Texas A&M University Mineral Investment – Local/Inactive
Note
Amended by H.B. 1691, 67th Leg., R.S.
USAS Values
| Appropriation Year | 24 |
|---|---|
| USAS Title | GAS 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 |