HB4292 S FIN AMT #1 3-5

Johnson 7909

The Committee on Finance moved to amend the bill by striking out the title and substituting therefor a new title, to read as follows:

Eng. House Bill 4292—A Bill to amend the Code of West Virginia, 1931, as amended, by adding thereto a new section, designated §36-4-9c, relating to providing for damages for nonpayment of royalties due from oil, natural gas, natural gas liquids production, or coal extraction under the terms of a lease or other written agreement; allowing producers to temporarily retain payment of royalty under certain circumstances; requiring payment of royalty at least once annually; requiring payment of royalty within 120 days after cessation of production; providing for written demand and civil action by lessor for nonpayment of royalty;  allowing a court to award attorney fees; providing formula for determining damages for failure to make timely royalty payment; providing for default due dates for royalty payments; and making the provisions prospective only.

Adopted

Rejected