State of Texas – Fiscal Management

Manual of Accounts

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Revenue Object 3316 – Oil and Gas Lease Rental – Texas A&M University Land Delay

 

Legal Citations:
Revenue Type: Cash — Natural Resources
Origin Date: 1937 by the 45th Leg.
Issue Date:
Revised Date: 2020-03-26

Description


To record payment of money for delay in drilling or development of lands belonging to the A&M University System. The charge may not be less than $1 per acre involved in the mineral lease.



Due Date


Each year for a period of 5 years unless production is established.



Collecting Agencies




Deposit Funds




Notes




USAS Values


Appropriation Year 26
USAS Title OIL AND GAS LEASE RENTAL
Receipt Category 08 – Natural Resources
Receipt Type 80 – Land Income
Object Group 30 – Revenues
USAS Status A
Rev/Exp Category 04 – LAND INCOME



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