Present Constitution provides that taxes may be levied on natural resources severed
from the soil or water to be paid proportionally by the owners at the time of severance.

Present Constitution provides that natural resources may be classified for the purpose
of taxation and may be predicated upon either the quantity or value of the products at the
time and place of severance. Further provides that no further or additional tax or license
shall be levied or imposed on oil, gas or sulphur leases or rights and no additional value
shall be added to the assessment of land due to the presence of oil, gas or sulphur or
their production therefrom.

Proposed Constitutional Amendment retains the present constitution and provides that
the presence of oil or gas or the production thereof may be included in the methodology
to determine the fair market value of an oil or gas well for ad valorem taxes.