SB 1020
Requires assessors to use an income-based approach to assess mining properties
LR Number:
Last Action:
3/12/2020 - Second Read and Referred S Commerce, Consumer Protection, Energy and the Environment Committee
Journal Page:
Calendar Position:
Effective Date:
August 28, 2020

Current Bill Summary

SB 1020 - This act requires county assessors to utilize an income-based approach to determine the value of mining properties, as defined in the act. The assessor shall include in the net operating income of such property all property that contributes or will contribute to the income of the property and that is taxable as real property, including, but not limited to, lands owned by the property owner, improvements on land owned by the property owner, and mineral interests owned by the property owner, whether such interests are located on land owned by the property owner or are leased from another property owner.

This act is identical to SB 535 (2020) and HB 2295 (2020).



No Amendments Found.