Oregon Law
Law as of Jan 1, 2026
Chapter contents
324.050Definitions 324.070Imposition of tax; rate; basis of levy 324.080Exemptions of gross sales value 324.090State and local government interests exempt; credit of taxes imposed by state and local governments 324.110Quarterly payment of tax; computation of prevailing cash price 324.120Statement by taxpayer; other required information 324.130Statement of producer; filing of statement 324.140Penalty for delinquent reports; report of claimed exempt royalties 324.170Audit; interest on delinquent tax or deficiency 324.180Notice to person liable for unpaid tax 324.190Collection of unpaid tax 324.200Release of lien on real estate 324.210Status of taxes, interest and penalties as debt; limitation on time of collection 324.240Payment of tax when oil or gas in litigation 324.310Powers of department 324.320Rulemaking authority of department 324.340Net revenue payable to Common School Fund 324.410Prohibited conduct; civil penalty 324.510Content of statement or settlement sheet 324.520Duty to furnish information to department; penalty

Chapter 324 — Oil and Gas Tax

ORS 324.340 Net revenue payable to Common School Fund

(1)

The revenues derived from the tax imposed by this chapter including interest and penalties, shall be deposited in a suspense account created pursuant to ORS 293.445. After payment of refunds and the expenses of the Department of Revenue incurred in the administration of this chapter, the remaining revenues shall be paid into the Common School Fund and are continuously appropriated to the Department of State Lands for the purposes for which other moneys in the Common School Fund may be used.

(2)

The amount of moneys necessary to pay refunds and expenses of the Department of Revenue incurred in the administration of this chapter are continuously appropriated to the Department of Revenue from the suspense account referred to in subsection (1) of this section.

CIVIL PENALTY

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