Or. Admin. Code § 461-145-0348 - Mineral Rights; OSIP, OSIPM, QMB
(1) In the OSIP, OSIPM, and QMB programs,
"mineral rights" represent ownership interest in natural resources such as
coal, oil, or natural gas, which normally are extracted from the
ground.
(2) In the OSIP, OSIPM, and
QMB-DW programs, mineral rights(see section (1) of this rule)
are treated as follows:
(a) If the individual
owns the property to which the mineral rights pertain, the
current market value of the property is assumed to include the value of the
mineral rights and is treated in accordance with OAR
461-145-0420.
(b) If the individual does not own the land
to which the mineral rights pertain, the current market value
of the mineral rights is counted as a resource.
(c) Income received from mineral
rights, including compensation paid to the owner for the use or lease
of property or natural resources, is considered royalty income and treated in
accordance with OAR 461-145-0108.
(3) In the QMB-BAS, QMB-SMB, and
QMB-SMF programs, mineral rights are treated as follows:
(a) Income received from mineral
rights, including compensation paid to the owner for the use or lease
of property or natural resources, is considered royalty income and treated in
accordance with OAR 461-145-0108.
(b)
Mineral rights are
excluded as a resource.
Notes
Statutory/Other Authority: ORS 409.050, 410.070, 411.060, 411.070, 411.404, 411.706, 413.085 & 414.685
Statutes/Other Implemented: ORS 413.085, 414.685, 414.839, ORS 409.010, 409.050, 410.020, 410.070, 410.080, 411.060, 411.070, 411.404 & 411.706
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