$30 million in impact fee money went unreported and unaccounted for
Friday, December 25, 2015
Due to how cash was used, almost $30 million from Marcellus Shale impact fees given to communities in Pennsylvania is unaccounted for, according to Observer-Reporter. The cash was unreported to the Public Utility Commission.
In February 2012, former Pennsylvania Gov. Tom Corbett signed the Act 13 (the impact fee) into law, but the legislation didn’t require routine state audits of the money to track how it’s spent.
The $30 million makes up 14.5 percent given to communities directly impacted by drilling between 2011 and 2013. Since the impact fee was introduced, $856 million has been given to Marcellus towns, counties and other funds.
Via: Observer-Reporter > Nearly $30 million in Act 13 money unaccounted for
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Shale FAQ
How often do royalty payments come?
Depending on the company, royalty payments can arrive monthly or quarterly.
Are my royalty payments transferable?
Yes. If you plan on selling your property, notify the gas company that is leasing your land and your realtor. They will make arrangements to allow the royalty payments to transfer to a different land owner.
What are royalties?
Royalties are payments from the gas company to the landowner as part of a lease agreement. Royalties payments cannot begin until production begins. The payments are dependent upon the market price of the resource.