MISSISSIPPI LEGISLATURE
2013 Regular Session
To: Ways and Means
By: Representative Holloway
AN ACT TO REQUIRE OWNERS OF ALL NONPRODUCING MINERAL ESTATES AND LEASEHOLD INTERESTS IN MINERALS OWNED SEPARATELY AND APART FROM THE SURFACE ESTATE TO PAY A CERTAIN PORTION OF PROPERTY TAXES; TO PROVIDE THAT WHERE THE TAX BECOMES DELINQUENT THE MINERAL ESTATE OR LEASEHOLD INTEREST SHALL REVERT TO THE SURFACE OWNER; TO AMEND SECTION 27-31-85, MISSISSIPPI CODE OF 1972, IN CONFORMITY TO THE PROVISIONS OF THIS ACT; TO REPEAL SECTIONS 27-31-73 AND 27-31-75, MISSISSIPPI CODE OF 1972, WHICH RELATE TO THE EXEMPTION OF NONPRODUCING MINERAL AND LEASEHOLD INTERESTS FROM AD VALOREM TAXES; AND FOR RELATED PURPOSES.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:
SECTION 1. (1) From and after January 1, 2013, all owners of nonproducing mineral estates and all leasehold interests in minerals which are owned separately and apart from the surface estate shall pay twenty-five percent (25%) of the property taxes. Such tax shall become due and be payable in the same manner as taxes on the surface estate.
(2) If the taxes provided for in subsection (1) of this section are not paid when they become due, such mineral estate or leasehold interest shall revert to the surface owner.
SECTION 2. Section 27-31-85, Mississippi Code of 1972, is amended as follows:
27-31-85. From the taxes
levied and collected under and by virtue of Sections 27-31-77 through 27-31-83
inclusive, and Section 1 of this act, the chancery clerk shall retain * * *
ten percent * * *
(10%) as a fee for the
collection thereof, and shall pay the remainder thereof into the proper
depository to the credit of the county, one-half (1/2) to the common county
fund and one-half (1/2) to the county school fund. Such deposit shall be made
on or before the 15th day of the month next succeeding that in which such
collection may be made. * * * The same percent of collections shall be retained by him from all funds
collected by virtue of Section 27‑31‑75 hereof, and the remainder
shall be likewise deposited.
SECTION 3. Sections 27-31-73 and 27-31-75, Mississippi Code of 1972, which relate to the exemption of nonproducing mineral and leasehold interests, are repealed.
SECTION 4. This act shall take effect and be in force retroactively from and after January 1, 2013.