summary
Introduced
03/15/2017
03/15/2017
In Committee
Crossed Over
Passed
Dead
12/31/2018
12/31/2018
Introduced Session
132nd General Assembly
Bill Summary
To amend sections 1509.30 and 1509.99 of the Revised Code to require the owner of an oil or gas well to provide a royalty statement to the holder of the royalty interest when the owner makes payment to the holder.
AI Summary
This bill amends Ohio's Revised Code to require the owner of an oil or gas well to provide a detailed royalty statement to the holder of the royalty interest when making a payment. The statement must include information such as the lease or well identification, the sales period, the volume and price of oil or gas, taxes and deductions, and the holder's royalty share. The owner must preserve these records for at least two years and provide the information to the holder within 30 days of a written request. Failure to comply can result in civil penalties and the recovery of court costs and attorney's fees by the prevailing party.
Committee Categories
Agriculture and Natural Resources
Sponsors (5)
Last Action
Refer to Committee: Energy and Natural Resources (on 03/21/2017)
bill text
bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.legislature.ohio.gov/legislation/legislation-summary?id=GA132-HB-130 |
| Bill | http://search-prod.lis.state.oh.us/solarapi/v1/general_assembly_132/bills/hb130/IN/00?format=pdf |
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