MS HB273

Changes severance tax liability for oil and gas from "producers" to "interest owners" (royalty holders and others with ownership interests), who must pay taxes regardless of state residency.

Surface property owners become exempt from 25% of ad valorem taxes when nonproducing oil, gas, or mineral interests are owned separately; owners/holders of those separate interests must pay a prorated portion of that 25% tax obligation.

Nonproducing mineral interests that fail tax payments are sold like land for nonpayment of taxes; if unsold at auction, the interests revert to the surface owner who becomes liable for delinquent taxes and the 25% ad valorem tax obligation.

Requires tax collectors to provide chancery court clerks with separate lists of nonproducing mineral interests sold for nonpayment of taxes and those that reverted to surface owners.

Effective date: July 1, 2018.