Oregon Administrative Rules
Chapter 461 - DEPARTMENT OF HUMAN SERVICES, SELF-SUFFICIENCY PROGRAMS
Division 145 - TREATMENTS OF SPECIFIC ASSETS
Section 461-145-0348 - Mineral Rights; OSIP, OSIPM, QMB

Universal Citation: OR Admin Rules 461-145-0348

Current through Register Vol. 63, No. 3, March 1, 2024

(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.

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

Disclaimer: These regulations may not be the most recent version. Oregon may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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