PROPERTY CONVEYANCES

House Bill 5281 (H-3) as passed by the House

Sponsor:  Rep. Larry Inman

Committee:  Appropriations

Complete to 12-14-16

SUMMARY:

House Bill 5281 (H-3) would amend the Management and Budget Act, 1984 PA 431, by adding a new section regarding property conveyances.  Under the provisions of the bill, if the Department of Technology, Management, and Budget (DTMB) conveyed a property, DTMB shall not reserve oil, gas, and mineral rights.  However, the conveyance must provide that if the grantee or successor develops oil, gas, or minerals on the property, the state shall receive ½ of the gross revenue generated from the development with the payment deposited in the state's General Fund.

The bill would also require any conveyance by the department to reserve to this state, and all others acting under its authority, all aboriginal antiquities, including mounds, earthworks, forts, burial and village sites, mines, or other relics on or within the property for any purpose related to exploring excavating, and taking away the aboriginal antiquities.   

While the provisions of the bill are not currently required under law, property conveyance bills include the provisions in most instances.

           

FISCAL IMPACT:

The bill would have no fiscal impact on state or local government.  The provisions of the bill are already included in most property conveyance bills. 

                                                                         Fiscal Analyst:  Ben Gielczyk  

■ This analysis was prepared by nonpartisan House Fiscal Agency staff for use by House members in their deliberations, and does not constitute an official statement of legislative intent.