Arkansas legislation · 95th General Assembly (2025 Regular)
Arkansas HB1937: TO AMEND THE METHOD OF VALUATION FOR MINERAL RIGHTS UNDER ARKANSAS CONSTITUTION, ARTICLE 16, § 5; AND TO CLARIFY THE METHOD OF VALUATION FOR OIL AND GAS WELL PRODUCTION EQUIPMENT
Status: Chaptered, April 17, 2025
What the bill says
An act to be entitled an act to amend the method of valuation for mineral rights under arkansas constitution, article 16, § 5; to clarify the method of valuation for oil and gas well production equipment; to provide for consistency and uniformity in valuation; and for other purposes. subtitle to amend the method of valuation for mineral rights under arkansas constitution, article 16, § 5; and to clarify the method of valuation for oil and gas well production equipment.
From the enrolled text:
An Act To Be Entitled AN ACT TO AMEND THE METHOD OF VALUATION FOR MINERAL RIGHTS UNDER ARKANSAS CONSTITUTION, ARTICLE 16, § 5; TO CLARIFY THE METHOD OF VALUATION FOR OIL AND GAS WELL PRODUCTION EQUIPMENT; TO PROVIDE FOR CONSISTENCY AND UNIFORMITY IN VALUATION; AND FOR OTHER PURPOSES. Subtitle TO AMEND THE METHOD OF VALUATION FOR MINERAL RIGHTS UNDER ARKANSAS CONSTITUTION, ARTICLE 16, § 5; AND TO CLARIFY THE METHOD OF VALUATION FOR OIL AND GAS WELL PRODUCTION EQUIPMENT. BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF ARKANSAS: SECTION 1. DO NOT CODIFY. Legislative intent. The General Assembly intends for this act and (2) Clarify the law. SECTION 2. Arkansas Code § 26-26-1110(a), concerning the valuation of mineral rights for purposes of property taxes, is amended to read as follows: (a)(1) As used in this section: (A) "Oil well Well" means a producing unit well or well that (ii) Liquid hydrocarbons associated with the *JLL308* 04-03-2025 11:07:56 JLL308 As Engrossed: H4/3/25 HB1937 production of gas; or (iii) Gas associated with the production of liquid hydrocarbons; (iv) Natural gas; or (v) Any combination of oil, gas, and other hydrocarbons; and (B) "Production equipment" means all piping and other equipment of an oil a well from the bottom of the casing to and including the sales valve at the …