Mr. President:
The Revenue and Taxation Committee reports a favorable recommendation on 1st Sub.
H.B. 74, PROPERTY TAX MODIFICATIONS, by Representative J. Mathis, with the following
amendments:
Respectfully,
Deidre M. Henderson
Voting: 4-0-5
1. Page
11, Lines 318 through 327
House Floor Amendments
2-8-2013
:
318
H. [(32)] (33) .H "Split estate mineral rights owner" means a person who:
319
(a) has a legal right to extract a mineral from property;
320
(b) does not hold more than a H. [1%] 25% .H interest in:
321
(i) the
property's
}
land surface rights
of the property where the wellhead
is located
; or
322
(ii) an entity with an ownership interest in the
property's
}
land surface rights
of the property where the wellhead is located
;
323
(c) is not an entity in which the owner of the
property's
}
land surface rights
of the property where the wellhead is located
holds more
324
than a H. [1%] 25% .H interest; and
325
(d) does not have a relationship with an owner of the
property's
}
land
surface rights
of the property where the wellhead is located
H. [ that
326
327
1% shall be substituted for the term 50% in Subsection 267(b), Internal Revenue Code] .H .
Committee Chair
3 HB0074.SC1.wpd phildean/PVD RLR/PVD 2/12/13 3:54 pm
Bill Number
*HB0074S01*
HB0074S01