1.1 	A bill for an act
1.2 	relating to natural resources; establishing strategic minerals reserve; requiring 
1.3 	remittance of two percent of all nonferrous metallic minerals mined;amending 
1.4 	Minnesota Statutes 2014, section 93.482, by adding a subdivision; proposing 
1.5 	coding for new law in Minnesota Statutes, chapter 93.
1.6 	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

1.7 	Section 1. Minnesota Statutes 2014, section 93.482, is amended by adding a 
1.8 	subdivision to read:
1.9 		Subd. 4.Mineral assessment. In addition to the annual fee in subdivision 1, a 
1.10 	person holding a permit to mine nonferrous metallic minerals must annually remit to the 
1.11 	commissioner two percent of all nonferrous metallic minerals mined during the prior 
1.12 	calendar year. The commissioner must deposit all minerals received under this subdivision 
1.13 	in the strategic minerals reserve.

1.14 	Sec. 2. [93.484] STRATEGIC MINERALS RESERVE.
1.15 	The commissioner of natural resources must establish a strategic minerals reserve to 
1.16 	house and secure all minerals remitted to the state under section 93.482, subdivision 4. All 
1.17 	minerals in the strategic minerals reserve are property of the state. Minerals deposited 
1.18 	in the strategic minerals reserve may not be sold or otherwise liquidated for at least 30 
1.19 	years from the date of deposit.