MS HB463

Shifts severance tax liability for oil and gas production from producers to interest owners (royalty holders), regardless of whether they reside in Mississippi, at a rate of 6% of value at the point of production

Requires owners of nonproducing, separately-held oil, gas, or mineral interests to pay 10% of the ad valorem taxes due on the land under which their interests are located, with each owner paying a prorated portion based on their percentage of ownership

Exempts surface landowners from 10% of ad valorem taxes on real estate where mineral rights are owned separately, provided they submit an attorney's title opinion to the tax assessor by April 1 annually identifying the mineral interest owners

Authorizes sale of nonproducing mineral interests for nonpayment of taxes, with surface landowners having secondary redemption rights; if no buyer bids the full tax amount, the mineral interest reverts to the surface estate owner

Applies to all separately-held nonproducing mineral interests regardless of when they were created, effective July 1, 2014