Texas Comptroller of Public Accounts
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Revenue Object 3325 – Gas Royalties from Lands Owned by Educational Institutions – Sold School Lands |
| Legal Citations: |
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| Revenue Type: Cash — Natural Resources |
| Origin Date: 1919 by the 36th Leg. |
| Issue Date: |
| Revised Date: 2018-02-16 |
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.
On or before the 15th day of the second month succeeding the month of production.
Amended by H.B. 1691, 67th Leg., R.S.
Reference to asylum lands deleted in H.B. 2249, 78th Leg., R.S.
| Appropriation Year | 26 |
|---|---|
| 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 |