Bill Text: NY A03628 | 2011-2012 | General Assembly | Introduced

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Bill Title: Relates to the amount of royalty paid to an integrated royalty owner.

Spectrum: Partisan Bill (Republican 2-0)

Status: (Introduced - Dead) 2012-01-04 - referred to environmental conservation [A03628 Detail]

Download: New_York-2011-A03628-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         3628
                              2011-2012 Regular Sessions
                                 I N  A S S E M B L Y
                                   January 26, 2011
                                      ___________
       Introduced by M. of A. CROUCH -- read once and referred to the Committee
         on Environmental Conservation
       AN ACT to amend the environmental conservation law, in relation to inte-
         grated royalty owners
         THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section 1. Subparagraph 3 of paragraph a of subdivision 3  of  section
    2  23-0901 of the environmental conservation law, as amended by chapter 386
    3  of the laws of 2005, is amended to read as follows:
    4    (3)  "Integrated  royalty owner" means an owner who has either elected
    5  to be an integrated royalty owner or who does not elect to become either
    6  a participating owner  or  a  non-participating  owner.  The  integrated
    7  royalty owner shall receive a royalty equal to [the lowest royalty in an
    8  existing lease in] AN AMOUNT EQUAL TO THE AVERAGE OF ALL EXISTING LEASES
    9  WITHIN  the  spacing  unit,  but no less than one-eighth. The integrated
   10  royalty owner shall have no obligation to the well operator or any other
   11  owner for any charges, taxes or fees associated with  the  operation  of
   12  the  oil or gas well and, notwithstanding any other law to the contrary,
   13  shall not be liable by reason of the owner's  status  as  an  integrated
   14  royalty  owner  for  any  claims  for personal injury or property damage
   15  suffered by any person relating to the drilling  and  operation  of  the
   16  well.
   17    S 2. This act shall take effect immediately.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD04884-01-1