MS HB1374

Shifts severance tax liability for oil and gas from producers to interest owners, requiring interest owners to pay taxes regardless of residence or sale location.

Requires owners of separately held nonproducing oil, gas, or mineral interests to pay a prorated portion of 25% of ad valorem taxes on the underlying land, with taxes due at the same time as land taxes.

Allows surface property owners to claim exemption from 25% of ad valorem taxes if they provide attorney's title opinion showing separate mineral interest ownership by deadline.

Establishes procedure for selling nonproducing mineral interests for tax nonpayment in same manner as land sales, with reversion to surface owner if no bidders purchase at sale.

Requires tax collectors to provide chancery court clerks with separate lists of mineral interests sold or reverted to surface owners due to tax nonpayment.