Utah Statutes
§ 51-9-307 — New Severance Tax Revenue Special Revenue Fund.
Utah·Title 51 Public Funds and Accounts·Ch. 51-9 Funds and Accounts Act·Part 51-9-3 Infrastructure and Economic Diversification Investment Account and Deposit or Credit of Certain Severance Taxes Act
(1)As used in this section:
(1)(a) "Fund" means the New Severance Tax Revenue Special Revenue Fund created in this section.
(1)(b) "New revenue" means revenue collected above $100,000,000 from the taxes imposed under Title 59, Chapter 5, Severance Tax on Oil, Gas, and Mining, after subtracting the amounts required to be distributed under Sections 51-9-305, 51-9-306, 59-5-116, 59-5-119, and 59-5-121 and under Subsection 59-5-202(5)(c).
(2)There is created a special revenue fund known as the "New Severance Tax Revenue Special Revenue Fund" that consists of:
(2)(a) money deposited by the State Tax Commission in accordance with this section; and
(2)(b) interest earned on the money in the fund.
(3)Beginning July 1, 2021, the State Tax Commission shall deposit into the fund 100% of new reven
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Legislative History
Amended by Chapter 25, 2024 General Session
Nearby Sections
15
§ 51-10-101
Title.§ 51-10-102
Definitions.§ 51-10-201
Fund created.§ 51-10-203
Office of Trust Administrator.§ 51-10-204
Trust administrator duties.§ 51-10-205
Expenditures from the fund.§ 51-10-206
Diné Advisory Committee.§ 51-12-101
Definitions.§ 51-12-102
Reporting.§ 51-12-201
Investment opportunities.§ 51-12-202
Terms of deposit.§ 51-12-203
Penalty.§ 51-13-101
Definitions.