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MS HB535

Bill

Official Source

Status

Failed

2/2/2010

Primary Sponsor

Bob Evans

Click for details

Origin

House of Representatives

2010 Regular Session

AI Summary

  • Mineral estates separated from surface estates after January 1, 2011, automatically revert to the surface estate owner after ten years of nonproduction
  • The ten-year nonproduction period can be continuous or interrupted; it restarts the day after the last day of actual production or drilling operations
  • For shut-in rental payments in lieu of production, the ten-year period restarts at the end of the period for which the last rental payment was made if no production occurs
  • Oil wells must be located in the regular governmental quarter-quarter section and gas wells in the regular governmental half section where the mineral interest lies to qualify as in production
  • The act takes effect July 1, 2010

Legislative Description

Mineral rights; revert to surface owner after certain period of time.

Last Action

Died In Committee

2/2/2010

Full Bill Text

No bill text available