Royalty interests owned by the following governmental entities are not subject to the oil occupation tax:

1. (1) cities, towns, and villages;
2. (2) counties;
3. (3) independent school districts and common school districts;
4. (4) public colleges and universities;
5. (5) political subdivisions of the federal government.

Source Note:The provisions of this §3.34 adopted to be effective January 1, 1976.