§ 47:633.2 — Transfer of funds to royalty road or royalty fund

Louisiana § 47:633.2

• Jurisdiction: Louisiana
• Title 47: Revenue and Taxation

Text

Each month the collector of revenue shall transfer to the register of state lands from current severance tax collections for credit to the royalty road fund an amount equal to the increased severance tax levied on resources severed from state owned lands and mineral leases, provided, however, that the amount transferred by the collector of revenue shall not include revenues paid to the register of state lands as a result of tax reimbursements provided by contract or otherwise, and shall not exceed an amount in excess of decreased revenues to the royalty road fund as a result of Act No. 5 of the Extra Session of 1973 and Act No. 6 of the Extra Session of 1973. 1 After January 1, 1975, the register of state lands shall transfer such funds to the governing authority of the parish entitled thereto under Article VII, Section 4(e) of the Louisiana Constitution becoming effective at midnight December 31, 1974.
The chairman of the mineral board shall certify, each month, to the collector of revenue the amount of net loss to the royalty road fund or to the royalty fund due to the tax increases provided in Act No. 5 of the Extra Session of 1973 and Act No. 6 of the Extra Session of 1973.
Nothing contained herein shall be construed to affect in any way whatsoever any other provisions of R.S. 47:633(7).
1 Acts 1973, Ex.Sess. No. 5 amended R.S. 47:633(9) and enacted R.S. 47:633.1. Acts 1973, Ex.Sess. No. 6 amended R.S. 47:633(7) and (8).

Legislative History

Added by Acts 1974, No. 716, §1.