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House Bill 1559 addresses the process for assessing Arkansas mineral rights for purposes of property taxes.

The lead sponsors include Representative Jean and Senators M. Pitsch, Maloch, and Irvin.

The bill would add an additional subsection to Arkansas Code § 26-26-1110 which addresses the process for assessing mineral rights for purposes of property taxes. It would require in certain circumstances the submission of a division order or declaration of interest to the county assessor.

The form of such submission is described as:

• In a common electronic workbook format established by the department; and
• Submitted electronically by the producer, operator, or a designee of the producer or operator to the county assessor annually by March 31.

Special provisions are made for a producer or operator of ten or fewer producing wells. Further, penalty provisions for noncompliance are described and exemptions from the Freedom of Information Act are provided.

HB 1559 has been referred to the House Committee on Agriculture, Forestry, and Economic Development.

A copy of the bill can be found here.