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2004 SESSION
SB 399 Recordation tax; leases on oil, gas and mineral rights and communications towers.
Introduced by: Thomas K. Norment, Jr. | all patrons ... notes | add to my profiles | history
SUMMARY AS PASSED:
Recordation tax; leases. Provides that the tax on the recordation of leases of oil and gas rights and of outdoor advertising signs owned by a person in the business of outdoor advertising shall equal $25. The bill sets a tax of $50 on the recordation of leases of coal and other mineral rights. Under current law, the tax on the recordation of leases of oil and gas rights and of outdoor advertising signs may not exceed $25, and the tax on the recordation of leases of coal and other mineral rights may not exceed $50.
The bill also provides that the tax on the recordation of a lease of a communications tower or a communications tower site shall be $75. The tax on the recordation of each lease to affix communications equipment or antenna to any such tower or other structure shall be at a rate of $15.
SUMMARY AS INTRODUCED:
Recordation tax; leases. Provides that the tax on the recordation of leases of oil and gas rights and of outdoor advertising signs owned by a person in the business of outdoor advertising shall equal $25. The bill sets a tax of $50 on the recordation of leases of coal and other mineral rights. Under current law, the tax on the recordation of leases of oil and gas rights and of outdoor advertising signs may not exceed $25, and the tax on the recordation of leases of coal and other mineral rights may not exceed $50.
The bill also provides that the tax on the recordation of a lease of a communications tower or a communications tower site shall be $75. The tax on the recordation of each lease to affix communications equipment or antenna to any such tower or other structure shall be at a rate of $15 for each tower or structure to which equipment or antenna is to be affixed.