HB 990 (BR 900) - K. Upchurch, J. Turner
AN ACT relating to mineral rights.
Create new sections of KRS Chapter 353 to establish procedure for terminating dormant mineral interests; allow surface owner to take action to terminate dormant mineral interests if interest is unused for fifteen (15) or more years next preceding commencement of the action; establish conditions of use of mineral interest; preclude a mineral owner from contracting for a very long or indefinite duration of the mineral interest; allow mineral owner to record notice of intent to preserve his or her mineral interest or interest of any or all co-owners; allow for blanket recording of mineral interests by mineral owner if prior recordation exists; establish criteria for filing notice of intent; allow mineral owner to record a late notice of intent and require mineral owner to reimburse surface owner for litigation expenses if mineral interest upheld; require Act to apply to mineral interests created before, on, or after the effective date of the Act; allow a three (3) year grace period to enable a mineral owner to record a notice of intent; create a short title for Act.
Mar 1-introduced in House
Mar 2-to Natural Resources and Environment (H)
Mar 3-posted in committee