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MS HB1034
Bill
Status
2/5/2013
Primary Sponsor
Gregory Holloway
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AI Summary
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Requires owners of nonproducing mineral estates and leasehold interests in minerals (owned separately from surface estates) to pay 25% of property taxes effective January 1, 2013
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Mineral estates or leasehold interests revert to the surface owner if property taxes become delinquent and unpaid
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Repeals existing exemptions for nonproducing mineral and leasehold interests from ad valorem taxes (Sections 27-31-73 and 27-31-75)
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Increases chancery clerk collection fee from 5% to 10% on taxes collected, with remainder split equally between county common fund and county school fund
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Takes effect retroactively from January 1, 2013
Legislative Description
Owners of nonproducing mineral estates and certain leasehold interests; require to pay certain portion of property taxes.
Last Action
Died In Committee
2/5/2013