Reference Title: state land mineral lease appraisals

AN ACT
AMENDING SECTION 27-238, ARIZONA REVISED STATUTES; AMENDING TITLE 27, CHAPTER 2, ARTICLE 5, ARIZONA REVISED STATUTES, BY ADDING SECTION 27-271.01; RELATING TO MINERAL RIGHTS IN LANDS.

Be it enacted by the Legislature of the State of Arizona:

Section 1. Section 27-238, Arizona Revised Statutes, is amended to read:

27-238 . Existing leases

A. Every mineral lease in effect on June 16, 1941 under the provisions of section 2973, revised code of 1928, shall remain in effect for the unexpired term for which it was granted, without right of renewal, or, at the option of the lessee, may be superseded by a lease as provided by this article.

B. Every mineral lease and mineral exploration permit issued under this article and article 4 of this chapter which had not expired or been terminated by the department as of June 8, 1989 shall be in effect for the unexpired term for which it was granted. Within one hundred eighty days after June 8, 1989 The state land commissioner shall set the rental and royalty according to the appraisal standards prescribed by section 27-234 for any mineral lease or mineral exploration permit in effect on June 8, 1989 and that rental and royalty are effective as of December 10, 1987.

Sec. 2. Title 27, chapter 2, article 5, Arizona Revised Statutes, is amended by adding section 27-271.01, to read:

27-271.01 . Inventory of trust land containing common mineral products, materials and property

THE DEPARTMENT SHALL MAINTAIN AN INVENTORY OF LANDS SUITABLE FOR LEASE OR SALE THAT ARE WITHIN THE BOUNDARIES IDENTIFIED IN SECTION 37-312 AND ARE LOCATED IN A COUNTY OF MORE THAN SIX HUNDRED THOUSAND PERSONS ACCORDING TO THE MOST RECENT UNITED STATES DECENNIAL CENSUS. PERSONS APPLYING FOR RECLASSIFICATION OF LAND PURSUANT TO SECTION 37-312 SHALL BE NOTIFIED IF THE LAND HAS BEEN IDENTIFIED BY THE DEPARTMENT AS LAND SUITABLE FOR LEASE OR SALE.

APPROVED BY THE GOVERNOR APRIL 24, 1997.

FILED IN THE OFFICE OF THE SECRETARY OF STATE APRIL 25, 1997.