Signed by Governor Mark Gordon

Vote Smart's Synopsis:

Vote to amend and pass a bill that requires all mineral producers to report and remit ad valorem taxes on mineral production on a monthly basis in order to reduce uncollectible ad valorem taxes.

Highlights:

• Requires all mineral and mine producers to report and pay the ad valorem tax on mineral production for each county on a monthly basis beginning January 1, 2020 (Sec. 1).

• Specifies that payment will be due and payable to the department on or before the twenty-fifth day of the second month following the month of production (Sec. 1).

• Requires payments to be no less than the amount calculated by the taxpayer by applying the mill levy rate established by the county in the immediately preceding year to the value of the gross product of minerals and mine products produced each month (Sec. 1).

• Exempts the monthly payment requirements for the ad valorem tax on mineral production if a taxpayer’s liability for severance tax is less than $30,000 for the preceding calendar year (Sec. 1).

Full Bill Text