SB576 SFA Romano 3-28 #4

Baker 7816

Senator Romano moved to amend the bill on page five, section six, after the section caption, by inserting a new subsection, designated subsection (a), to read as follows:

(a) In determining the royalty rate where multiple contiguous leases are developed under section five of this chapter, in the absence of specific agreement language to the contrary, each royalty owner shall receive the highest royalty rate contained in the multiple contiguous leases or a fifteen percent royalty rate, whichever is greater.  Nothing in this subsection is intended to impact royalties due for wells drilled prior to the effective date of this article.;

And,

By relettering the remaining subsections.

Adopted

Rejected