Idaho § 68-10-411 MINERALS, WATER AND OTHER NATURAL RESOURCES

Idaho Statutes

§ 68-10-411 — MINERALS, WATER AND OTHER NATURAL RESOURCES

Idaho § 68-10-411

Title 68TRUSTS AND FIDUCIARIES

Part 4.ALLOCATION OF RECEIPTS DURING ADMINISTRATION OF TRUST

Ch. 10UNIFORM PRINCIPAL AND INCOME ACT

This text of Idaho § 68-10-411 (MINERALS, WATER AND OTHER NATURAL RESOURCES) is published on Counsel Stack Legal Research, covering Idaho primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Idaho Code § 68-10-411 (2026).

Text

(a)To the extent that a trustee accounts for receipts from an interest in minerals or other natural resources pursuant to this section, the trustee shall allocate them as follows:

(1)If received as nominal delay rental or nominal annual rent on a lease, a receipt must be allocated to income;

(2)If received from a production payment, a receipt must be allocated to income if and to the extent that the agreement creating the production payment provides a factor for interest or its equivalent. The balance must be allocated to principal;

(3)If an amount received as a royalty, shut-in-well payment, take-or-pay payment, bonus, or delay rental is more than nominal, ninety percent (90%) must be allocated to principal and the balance to income;

(4)If an amount is received from a working interes

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(a) To the extent that a trustee accounts for receipts from an interest in minerals or other natural resources pursuant to this section, the trustee shall allocate them as follows:
(1) If received as nominal delay rental or nominal annual rent on a lease, a receipt must be allocated to income;
(2) If received from a production payment, a receipt must be allocated to income if and to the extent that the agreement creating the production payment provides a factor for interest or its equivalent. The balance must be allocated to principal;
(3) If an amount received as a royalty, shut-in-well payment, take-or-pay payment, bonus, or delay rental is more than nominal, ninety percent (90%) must be allocated to principal and the balance to income;
(4) If an amount is received from a working interest or any other interest not provided for in paragraph (1), (2) or (3) of this subsection, ninety percent (90%) of the net amount received must be allocated to principal and the balance to income.
(b) An amount received on account of an interest in water that is renewable must be allocated to income. If the water is not renewable, ninety percent (90%) of the amount must be allocated to principal and the balance to income.
(c) This chapter applies whether or not a decedent or donor was extracting minerals, water, or other natural resources before the interest became subject to the trust.
(d) If a trust owns an interest in minerals, water or other natural resources on the effective date of this chapter, the trustee may allocate receipts from the interest as provided in this chapter or in the manner used by the trustee before the effective date of this chapter. If the trust acquires an interest in minerals, water or other natural resources after the effective date of this chapter, the trustee shall allocate receipts from the interest as provided in this chapter.