| Issue Date: | |
|---|---|
| Revised Date: | 2018-02-15 |
Legal Cites
- Natural Resources Code sec. 32.1072, sec. 34.018, sec. 34.057, sec. 52.024
Object Type
Cash — Natural Resources
Origin Date
1951 by the 52nd Leg.
Description
Royalty of at least 1/8 of gross production of oil from land owned or held in trust by the Parks and Wildlife Department. 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, no lease than $1,200 a year for each well capable of producing in paying quantities.
Due Date
On or before the 5th day of the second month succeeding the month of production.
Collecting Agencies
Note
Amended by H.B. 1691, 67th Leg., R.S.
USAS Values
| Appropriation Year | 24 |
|---|---|
| USAS Title | OIL ROYAL-PKS & WLDLIFE LANDS |
| Receipt Category | 08 – Natural Resources |
| Receipt Type | 80 – Land Income |
| Object Group | 30 – Revenues |
| USAS Status | A |
| Rev/Exp Category | 04 – LAND INCOME |