Mississippi Legislature House Bill 141: Mineral interest; revise procedure for payment of taxes.

Mississippi Legislature House Bill 141: Mineral interest; revise procedure for payment of taxes.

AN ACT TO AMEND SECTIONS 27-25-501, 27-25-503, 27-25-507, 27-25-509, 27-25-511, 27-25-513, 27-25-517, 27-25-521, 27-25-523, 27-25-701, 27-25-703, 27-25-705, 27-25-707, 27-25-709, 27-25-711, 27-25-715, 27-25-719, 27-25-721, 27-25-303, 27-25-305, 27-25-307, 27-25-309, 27-31-73, 27-35-51, 27-31-1, 27-41-79 AND 27-41-81, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT SEVERANCE TAXES ON OIL AND GAS SHALL BE PAID BY THE INTEREST OWNER OF THE OIL AND GAS; TO PROVIDE THAT SUCH TAXES SHALL BE PAID BY THE INTEREST OWNER REGARDLESS OF WHETHER HE RESIDES IN THIS STATE; TO PROVIDE THAT THE OWNER OF THE SURFACE RIGHTS IN REAL ESTATE UNDER WHICH OIL, GAS OR OTHER MINERAL INTERESTS ARE OWNED OR HELD SEPARATELY MAY BE EXEMPT FROM PAYING 25% OF THE AD VALOREM TAXES OTHERWISE DUE ON THE REAL ESTATE, AND THE OWNER OR HOLDER OF ANY NONPRODUCING OIL, GAS OR OTHER MINERAL INTEREST OWNED OR HELD SEPARATELY FROM THE RIGHTS OWNED IN THE SURFACE ESTATE SHALL PAY A PRORATED PORTION OF 25% OF THE AD VALOREM TAXES DUE ON THE LAND; TO PROVIDE THAT IF THE OWNER OR HOLDER OF ANY SEPARATELY OWNED OR HELD NONPRODUCING OIL, GAS OR OTHER MINERAL INTEREST DOES NOT PAY THE PERCENTAGE OF AD VALOREM TAXES THAT HE OR SHE IS REQUIRED TO PAY ON THE SURFACE OF THE LAND UNDER WHICH THE OIL, GAS OR OTHER MINERAL INTEREST IS LOCATED, THEN THE OIL, GAS OR OTHER MINERAL INTEREST SHALL BE SOLD IN THE SAME MANNER AS LANDS ARE SOLD FOR NONPAYMENT OF TAXES; TO PROVIDE THAT IF A SEPARATELY OWNED OR HELD NONPRODUCING OIL, GAS OR OTHER MINERAL INTEREST IS OFFERED FOR SALE DUE TO NONPAYMENT OF TAXES AND THE MINERAL INTEREST IS NOT PURCHASED AT SALE, THEN SUCH MINERAL INTEREST SHALL REVERT TO THE OWNER OF THE SURFACE ESTATE UNDER WHICH THE MINERAL INTEREST IS LOCATED, AND THE OWNER OF THE SURFACE ESTATE SHALL BECOME LIABLE FOR THE AMOUNT OF DELINQUENT TAXES FOR WHICH THE MINERAL INTEREST WAS OFFERED FOR SALE AND FOR A PRORATED PORTION OF THE 25% OF AD VALOREM TAXES DUE ON THE LAND THAT OWNERS OR HOLDERS OF SUCH SEPARATE MINERAL INTERESTS ARE REQUIRED TO PAY; TO REQUIRE TAX COLLECTORS TO PROVIDE LISTS TO THE CHANCERY COURT CLERK SPECIFYING MINERAL INTERESTS THAT WERE SOLD FOR NONPAYMENT OF TAXES AND MINERAL INTERESTS THAT WERE OFFERED FOR SALE AND WHICH REVERTED TO THE SURFACE OWNER DUE TO NOT BEING PURCHASED AT SALE; AND FOR RELATED PURPOSES.

DETAILS:  http://billstatus.ls.state.ms.us/2017/pdf/history/HB/HB0141.xml

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