Texas Comptroller of Public Accounts
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Revenue Object 3320 – Oil Royalties from Lands Owned by Educational Institutions – Eleemosynary Lands |
| Legal Citations: |
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| Revenue Type: Cash — Natural Resources |
| Origin Date: 1919 by the 36th Leg |
| Issue Date: |
| Revised Date: 2018-02-15 |
A royalty of no less than 1/8 of the gross production of oil produced from lands belonging to eleemosynary institutions. 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 for production of preceding month.
Special building funds and special mineral funds and accounts of eleemosynary institutions, using the agency number of the agency that has administrative authority for the funds.
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 |