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AR HB1692

Bill

Official Source

Status

Introduced

3/10/2021

Primary Sponsor

Deann Vaught

Click for details

Origin

House of Representatives

93rd General Assembly (2021 Regular)

AI Summary

  • Amends Arkansas Code § 26-26-1110(c)(4) to establish procedures for valuing producing mineral interests for ad valorem tax purposes
  • Requires the Assessment Coordination Division to annually develop and publish valuation methods, tables, and data to assist county assessors in assessing producing mineral interests
  • Mandates the Assessment Coordination Division annually update valuation tables in time for county assessors to use them during county-wide appraisals
  • Requires county assessors to use the Assessment Coordination Division's most recent valuation tables and guidelines when assessing mineral interests or rights in producing mineral interests

Legislative Description

To Amend The Law Governing The Valuation Of Producing Mineral Interests; And To Improve The Valuation Process For Producing Mineral Interests To More Accurately Reflect Property Values.

Last Action

WITHDRAWN BY AUTHOR

3/15/2021

Committee Referrals

Agriculture, Forestry and Economic Development3/10/2021

Full Bill Text

No bill text available