Bill Text | History of Actions | Background | Title |
Description: Oil and Gas; reversion of mineral estate to surface owner, ad valorem taxation.
Bill Text: [Introduced]
| 1 | 02/18/00 | (S) | Referred To Oil, Gas and Other Minerals | |
| 2 | 03/07/00 | (S) | Died In Committee |
| Effective date | ** See Text | |
| Disposition | Dead | |
| Deadline | General Bill/Constitutional Amendment | |
| Revenue | No | |
| 3/5ths vote required | No |
Senate Committee:
Principal Author: Hyde-Smith*
Title: AN ACT TO PROVIDE AN ANNUAL ASSESSMENT ON NONPRODUCING MINERAL ESTATES THAT ARE OWNED BY SOMEONE OTHER THAN THE OWNER OF THE SURFACE RIGHTS OF THE LAND; TO PROVIDE THAT THE TITLE TO THE NONPRODUCING MINERAL ESTATE SHALL REVERT TO THE STATE OF MISSISSIPPI UPON FAILURE OF THE OWNER TO PAY THE ASSESSMENT FOR A PERIOD OF THREE YEARS; TO PROVIDE THAT THE OWNER OF THE SURFACE RIGHTS TO THE LAND MAY REDEEM THE NONPRODUCING MINERAL ESTATE; TO PROVIDE THE PROCEDURE FOR NOTICE AND REDEMPTION OF THE NONPRODUCING MINERAL ESTATE; TO PROVIDE THAT MINERAL ESTATES SEPARATED FROM THE SURFACE ESTATE SHALL REVERT TO THE OWNER OF THE SURFACE ESTATE AFTER TEN YEARS OF NONPRODUCTION; TO DEFINE NONPRODUCTION; TO PROVIDE THAT THE OWNERS OF SUCH MINERAL ESTATES SHALL HAVE AN EXCLUSIVE OPTION TO RENEW THE AGREEMENT CREATING THE MINERAL ESTATE; AND FOR RELATED PURPOSES.
End Of Document
2000/html/History/SB/SB2878.htm