AR HB1559

Requires mineral rights distributors to submit division orders or declarations of interest to county assessors annually by March 31 in a common electronic format established by the department, reflecting ownership interest as of January 1 of the assessment year.

Exempts producers or operators with 10 or fewer producing wells from electronic submission requirements but requires substantial compliance with the department-established format.

Imposes a 10% penalty on property taxes due for mineral interests when division orders or declarations of interest are not submitted by April 15, collected by the county collector and paid into a late assessment fee fund.

Exempts submitted division orders and declarations of interest from the Freedom of Information Act of 1967.

Exempts producers or operators that pay 100% of property taxes on assessed mineral interests from submission requirements, provided they give written notice at least six months in advance if they intend to submit later.

Effective for assessment years beginning January 1, 2020 or after.