The bill establishes new provisions regarding the ownership and management of mineral interests held by counties and cities in Iowa. It mandates that both counties and cities must divest themselves of any mineral interests they own or control, transferring these interests to the surface owners of the land without any cost or consideration, unless the county or city is also the surface owner. The bill sets a five-year deadline for counties and cities to complete these conveyances, with specific timelines for interests acquired after the bill's effective date. Additionally, it prohibits counties from offering mineral interests for sale and outlines the process for handling delinquent taxes on mineral interests not owned by the surface owner.

The bill also introduces definitions and clarifications regarding mineral interests, including what constitutes active mineral interests and the conditions under which they may be deemed abandoned. It amends existing tax laws to ensure that mineral rights are assessed and taxed separately from the surface estate, and it establishes procedures for filing statements of claim to preserve severed mineral interests. The changes aim to streamline the management of mineral interests and ensure that surface owners have clear rights to the minerals beneath their land.

Statutes affected:
Reprinted: 458A.20, 331.310, 458A.19, 557C.1, 557C.3, 557C.6