Pennsylvania auditor to review use of Act 13 impact fee money
Friday, March 11, 2016
Pennsylvania State Auditor Eugene DePasquale will review municipalities’ use of Act 13 drilling impact fee money, according to The Observer-Reporter.
The newspaper reported in December that $30 million in impact fee money was unreported to the state Public Utility Commission and was unaccounted for due to how it was used.
DePasquale’s review will take about seven months, during which he will determine if the PUC accurately calculated and distributed money. He was also review reports to determine if money was used properly, and his auditors will visit some municipalities that received impact fee money.
Read more: The Observer-Reporter > State auditor to review Marcellus Shale impact fee funds
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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.