Louisiana 2014 2014 Regular Session

Louisiana Senate Bill SB570 Comm Sub / Analysis

                    RDCSB570 2991 5505
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DIGEST
The digest printed below was prepared by House Legislative Services. It constitutes no part
of the legislative instrument. The keyword, one-liner, abstract, and digest do not constitute
part of the law or proof or indicia of legislative intent.  [R.S. 1:13(B) and 24:177(E)]
Long	SB No. 570
Present law provides that mineral rights are subject to a prescription of nonuse for 10 years.
Proposed law provides that when land is acquired from any person by an acquiring authority
or other person as part of an economic development project pursuant to a cooperative
endeavor agreement between the acquiring authority and the state through the Dept. of
Economic Development and a mineral right subject to the prescription of nonuse is reserved,
the prescription of nonuse shall thereafter not run against the right for a period of twenty
years from the date of acquisition whether the title to the land remains in the acquiring
authority or is subsequently transferred to a third person, public or private. 
Effective August 1, 2014.
(Adds R.S. 31:149(I))
Summary of Amendments Adopted by Senate
Committee Amendments Proposed by Senate Committee on Judiciary A to the
engrossed bill
1. Provided that twenty years from the date of acquisition shall be the time at
which the ten-year prescription of nonuse for mineral rights begins to run,
when such mineral rights are subject to prescription of nonuse and are
reserved in an instrument by which the land is acquired in a state economic
development project. 
2. Deleted certain provisions regarding notice of reinscription, including
recording, signing and certain information to be included in such notice of
reinscription. 
Summary of Amendments Adopted by House
Committee Amendments Proposed by House Committee on Civil Law and Procedure
to the engrossed bill.
1. Clarified that the prescription of nonuse shall be for a period of twenty years
from the date of acquisition.