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15-71-107. Control or regulation of oil and gas production — Assessment on production — Use of money — Increase in assessment.
Arkansas Code — all titles (historical 2020) · legal_authorities
15-71-107. Control or regulation of oil and gas production — Assessment on production — Use of money — Increase in assessment.
(a)(1) All common sources of supply of crude oil discovered after January 1, 1937, if so found necessary by the Oil and Gas Commission, shall have the production of oil therefrom controlled or regulated in accordance with the provisions of this act.
(2)(A)(i) The commission is authorized to assess from time to time against each barrel of oil produced and saved a charge not to exceed fifty (50) mills on each barrel.
(ii) The charge that may be assessed pursuant to this subsection shall apply to each barrel of oil produced and saved, including that from common sources of supply discovered prior to January 1, 1937.
(B) All moneys so collected shall be used solely to pay the expenses and other costs in connection with the administration of this law.
(b)(1) All common sources of supply of natural gas discovered after January 1, 1937, if so found necessary by the commission, shall have the production of gas therefrom controlled or regulated in accordance with the provisions of this act.
(2)(A)(i) The commission is authorized to assess from time to time against each one thousand cubic feet (1,000 cu. ft.) of gas produced and saved from a gas well a charge not to exceed ten (10) mills on each one thousand cubic feet (1,000 cu. ft.) of gas.
(ii) The charge that may be assessed pursuant to this subsection shall apply to each one thousand cubic feet (1,000 cu. ft.) of natural gas produced and saved, including that from common sources of supply discovered prior to January 1, 1937.
(B) All moneys collected under subdivision (b)(2)(A)(i) of this section shall be used as follows:
(i) The first four and one-half (4½) mills of each gas assessme
Source: Arkansas Code — historical release 78 (November 6, 2020) · 15-71-107
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Stable record: arkansas_code:legal_authorities:15-71-107
Source file: gov.ar.code.title.15.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 4d0545ee13e64b774cb0fb71a053bfdad5fd3d6be53c9fb87ff05a08bead7de4
Source location: content.xml paragraph 23197
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15-71-107. Control or regulation of oil and gas production — Assessment on production — Use of money — Increase in assessment.
(a)(1) All common sources of supply of crude oil discovered after January 1, 1937, if so found necessary by the Oil and Gas Commission, shall have the production of oil therefrom controlled or regulated in accordance with the provisions of this act.
(2)(A)(i) The commission is authorized to assess from time to time against each barrel of oil produced and saved a charge not to exceed fifty (50) mills on each barrel.
(ii) The charge that may be assessed pursuant to this subsection shall apply to each barrel of oil produced and saved, including that from common sources of supply discovered prior to January 1, 1937.
(B) All moneys so collected shall be used solely to pay the expenses and other costs in connection with the administration of this law.
(b)(1) All common sources of supply of natural gas discovered after January 1, 1937, if so found necessary by the commission, shall have the production of gas therefrom controlled or regulated in accordance with the provisions of this act.
(2)(A)(i) The commission is authorized to assess from time to time against each one thousand cubic feet (1,000 cu. ft.) of gas produced and saved from a gas well a charge not to exceed ten (10) mills on each one thousand cubic feet (1,000 cu. ft.) of gas.
(ii) The charge that may be assessed pursuant to this subsection shall apply to each one thousand cubic feet (1,000 cu. ft.) of natural gas produced and saved, including that from common sources of supply discovered prior to January 1, 1937.
(B) All moneys collected under subdivision (b)(2)(A)(i) of this section shall be used as follows:
(i) The first four and one-half (4½) mills of each gas assessment levied each fiscal year until July 1, 2021, shall be deposited as general revenues; and
(ii) The remainder shall be used to pay the expenses and other costs in connection with the administration of this law.
(c) Before the commission implements the collection process of any increase in the millage assessment that may be authorized by law on each barrel of oil or on each one thousand cubic feet (1,000 cu. ft.) of gas, the commission shall first seek review from the Legislative Council or the Joint Budget Committee.
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