30 U.S.C. § 286 — Disposition of royalties and rents from potassium leases

submitted 99 years ago by ch. 66 to r/title-30-MINERAL-LANDS-AND-MINING · 129 words · no verdicts yet

in plain englishAI-generated · not legal advice

This law splits up money the government collects from potassium mining leases. Most goes to a federal reclamation fund and the U.S. Treasury. The rest goes to the state where the leased land sits, for roads or schools.

This section explains how to divide royalty and rental money collected from potassium mining leases issued under a specific part of the mining laws. The money is split three ways. First, 52½ percent goes to the Reclamation Fund. Second, 10 percent goes to the U.S. Treasury as ordinary government income. Third, 37½ percent goes to the state where the leased land or mineral deposits are located. The Secretary of the Treasury sends that state share after each fiscal year ends. The state — or a local government within it — must spend its share on building and maintaining public roads, or on supporting public schools and other educational institutions. The state's own legislature decides which of those two uses to fund.

the actual law source: uscode.house.gov ↗public domain

All money received from royalties and rentals from any lease issued or renewed under the provisions of subchapter VII of chapter 3 of this title, shall be paid into, reserved, and appropriated as follows: 52½ per centum to the Reclamation Fund, 10 per centum to the Treasury of the United States as miscellaneous receipts, and 37½ per centum shall be paid by the Secretary of the Treasury, after the expiration of each fiscal year, to the State within the boundaries of which the leased lands or deposits are or were located, such money to be used by such State or subdivision thereof for the construction and maintenance of public roads or for the support of schools or other public educational institutions, as the legislature of the State may direct.

Source credit: (Feb. 7, 1927, ch. 66, § 6, 44 Stat. 1058; June 1, 1948, ch. 356, 62 Stat. 279.)

history & why it existsrecord from the source credit

1927Enacted · Act of Feb. 7, 1927, ch. 66 · 44 Stat. 1058
1948Amended · Act of June 1, 1948, ch. 356 · 62 Stat. 279

A history note hasn’t been published yet. The record shows enactment by ch. 66 on 1927-02-07.

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