(a)

(1) Every person obtaining a lease or permit under this section and §§ 22-5-801 -- 22-5-808 and 22-5-810 -- 22-5-813 shall keep an accurate record and account of all sand, gravel, oil, natural gas, casinghead gas, coal and other minerals taken, and all timber or logs severed from the land covered by the lease or permit and shall file with the Revenue Division of the Department of Finance and Administration monthly an itemized verified statement of the total conventional weight or volume of any and all minerals and timber or logs taken under the lease or permit during the preceding month. These reports shall be made on forms prescribed by the division.

(2) Every person obtaining a lease or permit under this section and §§ 22-5-801 -- 22-5-808 and 22-5-810 -- 22-5-813 shall keep an accurate record and account of all sand, gravel, oil, natural gas, casinghead gas, coal and other minerals taken, and all timber or logs severed from the land covered by the lease or permit and shall file with the Commissioner of State Lands monthly an itemized verified statement of the total number of tons of sand and gravel, barrels of oil, thousands of cubic feet of natural gas and casinghead gas, tons of coal, and the conventional weight or volume of any and all other minerals and timber or logs taken under the lease or permit during the preceding month. These reports shall be made on forms prescribed by the Commissioner of State Lands.

(b)

(1) At the time of filing the reports, the lessee or permittee shall pay the severance tax to the Department of Finance and Administration in the same manner and at the same rate as all other severance taxes collected by the division.

(2) The lessee or permittee shall also pay monthly to the Commissioner of State Lands royalties on the amount of actual consideration for the sand, gravel, minerals, or timber or logs taken or severed from the state-owned lands under the conditions of the lease or permit issued by the Commissioner of State Lands.

(3) The Commissioner of State Lands shall be further authorized to require the posting of a corporate surety bond by any lessee or permittee to guarantee the payment of the taxes, royalties, and consideration.

(c)

(1) Except for application and bid fees, all funds received by the Commissioner of State Lands as fees, compensation, or royalties for leases or permits issued for the taking of any sand, gravel, minerals, or timber for lands owned or held in the name of a state agency shall be special revenues and shall be deposited into the State Treasury and credited to the fund or account from which the agency receives its support and for lands owned or held in the name of a state institution of higher education shall be deposited into the State Treasury and transferred by warrant to the institution of higher education for deposit into the institution's cash fund account established outside the State Treasury.

(2) Except for application and bid fees, all funds received by the Commissioner of State Lands for leases or permits for the taking of any sand, gravel, minerals, or timber from all other state-owned lands shall be deposited into the State Treasury as general revenues.

(3) Except for application and bid fees derived from the removal of logs, all funds received by the Commissioner of State Lands for leases or permits for the taking of logs from lands owned or held in the name of the state shall be deposited as cash funds into the State Treasury for the State Land Department. The Commissioner of State Lands shall distribute cash revenues deposited into the State Treasury for the State Land Department to counties from which logs were removed in accordance with the value of the logs as determined by the Commissioner of State Lands.

(4) All funds received by the Arkansas State Game and Fish Commission as fees, compensation, or royalties, including any application or bid fees, for leases or permits issued for the taking of any minerals for lands held in the name of the commission shall be special revenues and shall be deposited into the State Treasury and credited to the Game Protection Fund for the use of the commission.