Fiscal Notes
A fiscal note dated April 27 anticipates a negative two-year net impact to General Revenue Related Funds of $1,081,000 through the biennium ending August 31, 2017.
The bill would make no appropriation but could provide the legal basis for an appropriation of funds to implement the provisions of the bill.
Vote Recommendation Notes
According to the statement of purpose for House Bill 128, the property tax exemption for certain mineral interests was adopted 2 decades ago. Two decades later, with many more mineral accounts on the tax roll and the effect of inflation, this limit is outdated.
House Bill 128, by increasing this already existing exemption, would not only give some relief to property owners of mineral interest, but would also raise the limit to the point where it is actually worth collecting the tax for a taxing district. As a consequence, we support House Bill 128.