Tex. Nat. Res. Code § 91.408 · Subchapter J. PAYMENT FOR PROCEEDS OF SALE
INFORMATION FOR PAYEES OF PROCEEDS OF PRODUCTION FROM CERTAIN GAS WELLS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A payor of proceeds from the sale of gas produced from a tight formation as defined by Section 29(c)(2)(B), Internal Revenue Code of 1986, annually shall furnish the payee a statement providing the information necessary to compute the federal income tax credit provided by that section for the gas for which payment was made in the preceding year, including:
(1) information as described in Section 91.502(1) of this code; and
(2) the volume of the gas, measured in:
(A) thousands of cubic feet and heating value; or
(B) millions of British thermal units for each thousand cubic feet.
(b) A payor shall furnish a statement required by Subsection (a) not later than March 15 each year.
Notes and commentary — not statutory text
History
Added by Acts 1999, 76th Leg., ch. 609, Sec. 1, eff. Sept. 1, 1999; Acts 1999, 76th Leg., ch. 1483, Sec. 5, eff. Sept. 1, 1999.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/NR/htm/NR.91.htm
- Text hash
- sha256 e801ec2dda81ddefcc23593fda37296ed6bcd13001d34a4f62fe27d2ab8b7fa1
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
This section cites
Provisions in this library that the text above cites, as it prints each citation. A range cited as “ss. 61.13-61.16” links its first and last provisions.
Natural Resources Code
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.