Idaho Statutes
§ 47-1605 — LEASES — RENTAL AND ROYALTY
(1)Geothermal resources leases shall be issued at an annual rental of not less than twenty-five cents (25¢) per acre, payable in advance. The rental specified in geothermal leases shall be fixed in any manner by the state board of land commissioners including, but not limited to, competitive bidding, negotiation, fixed amounts or formulas.
(2)Royalty shall be established by the board of land commissioners based on the market value of the geothermal resources produced from the lands under lease. The royalties specified in geothermal leases shall be fixed in any manner by the state board of land commissioners including, but not limited to, competitive bidding, negotiation, fixed amounts or formulas. Royalties shall be paid in addition to rental payments, at the discretion of the board of l
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Idaho § 47-1605 (LEASES — RENTAL AND ROYALTY) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
[47-1605, added 1972, ch. 182, sec. 1, p. 467; am. 1985, ch. 124, sec. 1, p. 308; am. 2011, ch. 62, sec. 1, p. 137.]
Nearby Sections
15
§ 47-1001
RIGHT TO CROSS LOCATED CLAIM§ 47-1102
COST OF ASSESSMENT A LIEN§ 47-1201
LICENSE TAX TO BE MEASURED BY ONE PERCENT OF THE NET VALUE OF ORES MINED — DEFINITION OF ROYALTY§ 47-1204
STATEMENT AS TO ENTIRE GROUP§ 47-1205
DEFINITION OF VALUABLE MINERAL§ 47-1206
PAYMENT OF MINE LICENSE TAX§ 47-1312
POLICY§ 47-1313
DEFINITIONS