HF 709

as introduced - 89th Legislature (2015 - 2016) Posted on 02/12/2015 04:52pm

A bill for an act
relating to natural resources; establishing strategic minerals reserve; requiring
remittance of two percent of all nonferrous metallic minerals mined; amending
Minnesota Statutes 2014, section 93.482, by adding a subdivision; proposing
coding for new law in Minnesota Statutes, chapter 93.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1.

Minnesota Statutes 2014, section 93.482, is amended by adding a
subdivision to read:

new text begin Subd. 4. new text end

new text begin Mineral assessment. new text end

new text begin In addition to the annual fee in subdivision 1, a
person holding a permit to mine nonferrous metallic minerals must annually remit to the
commissioner two percent of all nonferrous metallic minerals mined during the prior
calendar year. The commissioner must deposit all minerals received under this subdivision
in the strategic minerals reserve.
new text end

Sec. 2.

new text begin [93.484] STRATEGIC MINERALS RESERVE.
new text end

new text begin The commissioner of natural resources must establish a strategic minerals reserve to
house and secure all minerals remitted to the state under section 93.482, subdivision 4. All
minerals in the strategic minerals reserve are property of the state. Minerals deposited
in the strategic minerals reserve may not be sold or otherwise liquidated for at least 30
years from the date of deposit.
new text end