§ 14-38-1-13 — Proceeds

Indiana § 14-38-1-13

• Jurisdiction: Indiana
• Art. 38: OTHER PETROLEUM REGULATION
• Ch. 1: Petroleum Exploration on State Property

Text

(a) All proceeds derived:
(1) from or by virtue or by reason of a permit or lease executed or
issued under this chapter; or
(2) from or by reason of any operations under this chapter;
shall, after deducting all costs incurred by the department, be paid to
the treasurer of state for the use of the division of the department
having the custody, control, possession, or authority of or over the real
property involved.
(b) Except as provided in subsection (c), the proceeds shall be
deposited in the proper fund of the appropriate division of the
department.
(c) Except as provided in subsection (d), the proceeds from royalties
or other compensation paid for minerals taken from beneath the
navigable waters of the state shall be deposited in the state general
fund.
(d) The proceeds from royalties or other compensation paid for
minerals taken from beneath the navigable waters of the Wabash River
(as defined in IC 14-13-6-4) shall be deposited in the Wabash River
heritage corridor fund established by IC 14-13-6-23.
[Pre-1995 Recodification Citation: 14-4-3-9.]

Legislative History

As added by P.L.1-1995, SEC.31. Amended by P.L.118-2009, SEC.4.