Section 30-3137 - Minerals, water, and other natural resources(a) To the extent that a trustee accounts for receipts from an interest in minerals or other natural resources pursuant to this section, the trustee shall allocate them as follows: (1) If received as nominal delay rental or nominal annual rent on a lease, a receipt must be allocated to income.(2) If received from a production payment, a receipt must be allocated to income if and to the extent that the agreement creating the production payment provides a factor for interest or its equivalent. The balance must be allocated to principal.(3) If an amount received as a royalty, shut-in-well payment, take-or-pay payment, bonus, or delay rental is more than nominal, ninety percent must be allocated to principal and the balance to income.(4) If an amount is received from a working interest or any other interest not provided for in subdivision (1), (2), or (3) of this subsection, ninety percent of the net amount received must be allocated to principal and the balance to income.(b) An amount received on account of an interest in water that is renewable must be allocated to income. If the water is not renewable, ninety percent of the amount must be allocated to principal and the balance to income.(c) The Uniform Principal and Income Act applies whether or not a decedent or donor was extracting minerals, water, or other natural resources before the interest became subject to the trust.(d) If a trust owns an interest in minerals, water, or other natural resources on September 1, 2001, the trustee may allocate receipts from the interest as provided in the act or in the manner used by the trustee before September 1, 2001. If the trust acquires an interest in minerals, water, or other natural resources after September 1, 2001, the trustee shall allocate receipts from the interest as provided in the act.Neb. Rev. Stat. §§ 30-3137