Ohio § 1509.50
Full text of Ohio Ohio Revised Code § 1509.50, with citation guidance and answers to common questions.
§ 1509.50.
(A) An oil and gas regulatory cost recovery assessment is hereby imposed by this section
on an owner. An owner shall pay the assessment in the same manner as a severer who is required
to file a return under section 5749.06 of the Revised Code . However, an owner may designate a severer who shall pay the owner's assessment on
behalf of the owner on the return that the severer is required to file under that
section. If a severer so pays an owner's assessment, the severer may recoup from the owner
the amount of the assessment. Except for an exempt domestic well, the assessment imposed shall be in addition
to the taxes levied on the severance of oil and gas under section 5749.02 of the Revised Code . (B) Except for an exempt domestic well, the oil and gas regulatory cost recovery assessment
shall be calculated on a quarterly basis as follows: (1) One-half of one cent per one thousand cubic feet of natural gas for all of the wells
of the owner; (2) Ten cents per barrel of oil for all of the wells of the owner. (C) All money collected pursuant to this section shall be credited to the severance tax
receipts fund. After the director of budget and management transfers money from the severance tax
receipts fund as required in division (H) of section 5749.06 of the Revised Code , money in the severance tax receipts fund from amounts collected pursuant to this
section shall be credited to the oil and gas well fund created in section 1509.02 of the Revised Code . (D) Except for purposes of revenue distribution as specified in division (B) of section 5749.02 of the Revised Code , the oil and gas regulatory cost recovery assessment imposed by this section shall
be treated the same and equivalent for all purposes as the taxes levied on the severance
of oil and gas under that section. However, the assessment imposed by this section is not a tax under Chapter 5749.
of the Revised Code.
Frequently Asked Questions About Ohio § 1509.50
What does Ohio Revised Code § 1509.50 cover?
Section 1509.50 is part of the Ohio Revised Code, the codified statutory law of Ohio. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Ohio § 1509.50?
A common citation format is "Ohio Revised Code § 1509.50" (Ohio). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Ohio law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Ohio official source linked on this page or consult a licensed Ohio attorney.
How does Ohio § 1509.50 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Ohio can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Ohio.