Bill
SB 2814
Repeal the mineral documentary tax, ending all filings and payments on mineral-related transactions and reducing state revenue while easing compliance for the industry.
SB 2814 — Mineral documentary tax; repeal
Overview
- Purpose: A repeal of the mineral documentary tax. The bill would remove the statutory authority and obligation to pay this tax for mineral-related documentary transactions.
- Status: Died in Committee (did not advance to a full chamber vote in this session).
- Introduced: March 14, 2025.
- Classification/Subject: Finance.
What the bill would do
- Repeal of the mineral documentary tax: The core action is to eliminate the tax currently imposed on certain mineral-related documentary documents or transactions. If enacted, taxpayers would no longer be required to file, report, or remit payments tied to this tax, and the tax would be removed from the relevant tax code provisions.
- Administrative impact: Tax collection and administration associated with the mineral documentary tax would be discontinued. Tax authorities would stop enforcing compliance and processing related filings and payments.
Potential impact and effects
- Fiscal impact: The repeal would likely reduce state revenue by the amount previously generated by the mineral documentary tax. Exact revenue effects depend on the tax’s current yield, which is not specified in the provided materials.
- Taxpayer impact: Potentially lower compliance costs for entities involved in mineral transactions, since they would no longer handle filings or payments related to this tax.
- Industry impact: The mineral sector could experience a simplification of the tax landscape, removing a compliance obligation, though the broader economic impact would depend on how significant the tax was to transactions and financing within the mineral sector.
Who may be affected
- Taxpayers subject to the mineral documentary tax (e.g., mineral rights holders, processors, or other entities involved in mineral transactions that incur the tax).
- State tax administration and enforcement agencies responsible for administering the mineral documentary tax if the repeal were enacted.
Procedural/timeline notes
- 2025-01-20: Referred to Finance
- 2025-02-26: Died in Committee
- 2025-03-14: Received by the Secretary of the Senate; Filed
- 2025-04-07: Read first time; Referred to Finance
- Status reflects that the bill did not advance out of committee in this session, though it could be reintroduced in a future session.
Next steps
- If policymakers wish to pursue this repeal, a new bill would typically need to be reintroduced in a subsequent session, followed by committee consideration, floor votes, and potential gubernatorial action.
Compiled from official sources — confirm details with the bill’s official record.
Sign in to ask a question.
