SF0039S2001

Page 2-line 17 After "value." and before the Senate Standing Committee Amendment (SF0039SS001/A) to this line insert "The fair market value of the parcels shall be determined using a certified appraiser for the surface estate as well as a certified mineral appraiser giving consideration to the methodology set out in subsection (d) of this section for the mineral estate.".

Page 3-after line 5 In the Senate Standing Committee Amendment (SF0039SS001/A) to this line in subsection (d) added by that section after "objectives." insert "The board shall adopt a net present value for the exchange of any mineral rights based on proven and producing mineral reserves with a regular cash flow and net present value return, using a discount rate of at least thirteen percent (13%) over no more than five (5) years, using commodity price estimates no greater than the most recent consensus revenue estimating group commodity price projection for one half (1/2) of the total anticipated federal mineral royalties.". NICHOLAS, BEBOUT