Issue Date:
Revised Date: 2018-02-16

Legal Citations

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

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