Texas Natural Resources Code 51.301 – Interest On Past-Due Payments
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Terms Used In Texas Natural Resources Code 51.301
- Comptroller: means the state comptroller of public accounts. See Texas Government Code 312.011
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
Payments under this subchapter that are past due shall bear interest at a rate equal to the rate imposed by the comptroller under § 111.060, Tax Code, for delinquent payments due the state, except that if the commissioner enters into an agreement with the grantee of the easement or lease specifying a lower rate, the payments bear interest at that lower rate.