| Issue Date: | |
|---|---|
| Revised Date: | 2018-02-16 |
Legal Citations
- Natural Resources Code sec. 52.024, sec. 52.171, sec. 52.172
Object Type
Cash — Natural Resources
Origin Date
1919 by the 36th Leg.
Description
A royalty of 1/16 of the value of gross production of gas produced on sold school lands. 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 15th day of the second month succeeding the month of production.
Collecting Agencies
- 305 – General Land Office for the Permanent School Fund Corporation, Agency 706
Note
Amended by H.B. 1691, 67th Leg., R.S.
Reference to asylum lands deleted in H.B. 2249, 78th Leg., R.S.
USAS Values
| Appropriation Year | 25 |
|---|---|
| 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 |