Texas Comptroller of Public Accounts
| PreviousNext |
Revenue Object 3320 – Oil Royalties from Lands Owned by Educational Institutions – A&M University |
| Legal Citations: |
|
| Revenue Type: Cash — Natural Resources |
| Origin Date: 1937 by the 45th Leg |
| Issue Date: |
| Revised Date: 2018-02-15 |
Royalty on oil produced on lands under direct control of Texas A&M University at the rate of no less than 1/8 of gross production. Shut-in oil royalty charged on wells capable of production, where oil 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.
On or before the last day of each month on production of preceding month.
Amended by H.B. 1691, 67th Leg., R.S.
| Appropriation Year | 26 |
|---|---|
| USAS Title | OIL 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 |