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Oil and gas royalty rate heads to House floor
A bill to raise the top royalty on state land leases in the Permian Basin from 20 to 25 percent advanced from committee. SB 23 cleared the Senate and moved to the House with a do pass, seeking Gov Grisham's signature before adjournment. The map targets Eddy Lea counties and parts of Roosevelt and southeastern Chaves counties, aligning with private land rates and Texas levels.
MENTIONED IN THIS ARTICLE
Permian
House Appropriations and Finance Committee
New Mexico House of Representatives
House
Michelle Lujan Grisham
New Mexico
Eddy
Lea
Legislative Finance Committee
LFC
Roosevelt County
Chaves County
Texas