43 USC 1608 - Revenue sharing

U.S Code last checked for updates: Nov 22, 2024

§ 1608.

Revenue sharing

(a)

Minerals within section

(b)

Interim payments into Alaska Native Fund based on percentage of gross value of produced or removed minerals and of rentals and bonuses; time of payment

(c)

Patents; royalties: reservation of percentage of gross value of produced or removed minerals and of rentals and bonuses from disposition of minerals

(d)

Distribution of bonuses, rentals, and royalties from Federal disposition of minerals in public lands; payments into Alaska Native Fund based on percentage of gross value of produced minerals and of rentals and bonuses; Federal and State share calculation on remaining balance

(e)

Federal enforcement; State underpayment: deductions from grants-in-aid or other Federal assistance equal to underpayment and deposit of such amount in Fund

(f)

Oil and gas revenues; amount payable equal to Federal or State royalties in cash or kind

(g)

Alaska Native Fund payments; cessation; reimbursement for advance payments

(h)

Final payment; order of computation

When computing the final payment into the Fund the respective shares of the United States and the State with respect to payments to the Fund required by this section shall be determined pursuant to this subsection and in the following order:

(1)

first, from sources identified under subsections (b) and (c) hereof; and

(2)

then, from sources identified under subsection (d) hereof.

(i)

Outer Continental Shelf mineral revenues; provisions of section inapplicable

(Pub. L. 92–203, § 9, Dec. 18, 1971, 85 Stat. 694; Pub. L. 93–153, title IV, § 407(b), Nov. 16, 1973, 87 Stat. 591.)

cite as: 43 USC 1608