| Issue Date: | |
|---|---|
| Revised Date: | 2018-02-16 |
Legal Cites
- Education Code sec. 66.65(b)
- Natural Resources Code sec. 52.024
Object Type
Cash — Natural Resources
Origin Date
1929 by the 41st Leg.
Description
A royalty of not less than 1/8 of the gross production of gas produced from any land belonging to the Permanent University Fund. 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 no 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 the preceding month.
Collecting Agencies
- 305 – General Land Office for the Board of Regents of the University of Texas System, Agency 720
Deposit Funds
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 |