SB 166 Summary

• Eliminates annual labor requirements for mining claims and leasehold locations, removing the requirement to perform and record statements of annual labor.

• Increases rental rates for mining claims, leasehold locations, and prospecting sites, with prospecting site rentals rising from $200 to $300 for a two-year term and mining claim/leasehold annual rentals increasing based on years held (0-5 years: $1.29/acre, 6-10 years: $2.32/acre, 11+ years: $5.27/acre).

• Requires applicants and holders of mining leases to submit notarized affidavits certifying they are "bona fide miners" seeking mineral exploration and development in good faith, not to prevent mineral development.

• Waives the cure penalty for abandonment when failure to record a statement of annual labor is the sole cause, allowing claims to be cured by properly recording the statement without paying an additional penalty.

• Changes the Consumer Price Index reference base for calculating future rental adjustments from 1989 to January-June 2018, with adjustments calculated every 10 years instead of annually.