| TO: | Honorable Kip Averitt, Chair, Senate Committee on Natural Resources |
| FROM: | John S. O'Brien, Director, Legislative Budget Board |
| IN RE: | SB214 by Fraser (Relating to authorizing the transfer for consideration of certain fractional mineral interests held by the state to certain landowners. ), Committee Report 1st House, Substituted |
The bill would allow the General Land Office (GLO) to accept offers from landowners for the state's interest in the mineral estate in real property to which the landowner holds title. The GLO would be allowed to sell, for fair market value, any fractional mineral interest held by the state that:
(1) is a fractional mineral interest of 1/32 or less; and
(2) is severed from a parcel of land that:
(A) is 80 acres or less; and
(B) is located in a county with a population less than 11,000.
The bill would not apply to land under the management and control of the board of regents of a public or private institution of higher education.
The GLO reports that passage of the bill would not result in a fiscal impact to the state.
| Source Agencies: | 305 General Land Office and Veterans' Land Board
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| LBB Staff: | JOB, WK, TL
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