This bill addresses natural resources within the state.
This bill:
- facilitates faster permitting by the Department of Environmental Quality and the Division of Oil, Gas, and Mining;
- modifies the tax credit for mining exploration;
- creates the State Reinvestment Restricted Account and diverts various streams of income related to severance taxes into the State Reinvestment Restricted Account;
- addresses property tax differentials based on critical minerals zones;
- defines terms;
- establishes the state critical minerals objectives and policy, including providing for annual reviews;
- creates the Critical Minerals Council (council), including establishing the council's operations, powers, and duties;
- makes money appropriated to the council nonlapsing;
- addresses areas of coordination by certain council members;
- establishes a process to designate critical minerals zones, including providing for property tax differential revenue;
- provides for the creation of a clearinghouse of data to be known as the "Critical Minerals Atlas";
- addresses the creation of the Minerals for Industrial, National, and Economic Security Center;
- creates the Critical Minerals Development Account;
- coordinates with H.B. 373, Higher Education Innovation, to address inclusion of critical minerals projects in the eligible research areas for research grants; and
- makes technical and conforming amendments.

Statutes affected:
Introduced: 59-2-924, 59-5-215, 79-2-201
Substitute #1: 51-9-305, 59-2-924, 79-2-201
Substitute #2: 59-2-924, 63J-1-602.2, 79-2-201
Amended 3/5/2026 16:03:696: 40-6-24, 51-9-202, 51-9-302, 51-9-305, 59-2-924, 59-5-115, 59-5-116, 59-5-119, 59-5-204, 59-5-215, 59-5-304, 63J-1-602.2, 79-2-201
Substitute #3: 40-6-24, 51-9-202, 51-9-302, 51-9-305, 59-2-924, 59-5-115, 59-5-116, 59-5-119, 59-5-204, 59-5-215, 59-5-304, 63J-1-602.2, 79-2-201
Enrolled: 40-6-24, 51-9-202, 51-9-302, 51-9-305, 59-2-924, 59-5-115, 59-5-116, 59-5-119, 59-5-215, 63J-1-602.2, 79-2-201
Substitute #4: 40-6-24, 51-9-202, 51-9-302, 51-9-305, 59-2-924, 59-5-115, 59-5-116, 59-5-119, 59-5-215, 63J-1-602.2, 79-2-201