LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE 75th Regular Session March 21, 1997 TO: Honorable Bill Ratliff, Chair IN RE: Senate Bill No. 485 Committee on Finance By: Brown Senate Austin, Texas FROM: John Keel, Director In response to your request for a Fiscal Note on SB485 ( Relating to the joint listing on an ad valorem tax appraisal roll of separate interests in minerals in place.) this office has detemined the following: Biennial Net Impact to General Revenue Funds by SB485-As Introduced No fiscal implication to the State is anticipated. Similar annual fiscal implications The bill would amend Section 25.12 (b) of the Tax Code to exclude mineral interests having a taxable value of less than $500 from the general requirement to list mineral interests jointly at the operator's request. The Tax Code exempts from property taxation mineral interests having a value of less than $500. No significant fiscal implication to units of local government is anticipated. Source: Agencies: 455 Railroad Commission 304 Comptroller of Public Accounts LBB Staff: JK ,RR ,BR